Established Freehold Italian Restaurant In Bagshot Surrey For Sale

Business description

The particular highlights of the business are:
- A well established business.
- Good loyal clientele.
- Fully equipped business with favorable lease terms (see below).
- Turnover in excess of £200,000 with a net profit of £80,000. (See financial summary below).
- A business with great potential.
- An easily run operation.
- Good loyal well trained staff.
- An ideal purchase for an existing restaurant owner looking to enhance their portfolio.
- A niche concern with very little competition.
- The Business can be used as commercial property as there is a huge space at the back.
- Business enjoys superb local reputation.
- The concern provides excellent Italian Cuisine in a spacious and superbly presented environment.

History
Phoenix Business Transfer Agents are delighted to place onto the market this Freehold Established Italian Restaurant in Bagshot, Surrey. The business has been in the hands of the current owners since 1993 and they now wish to sell due to retirement.

Services
This very good business opportunity provides Italian Cuisine in a spacious and superbly presented environment.

Staffing
The concern employs 5 full-time members of staff.

Owners Role
The owner is involved in the day to day running of the business.

Marketing
The owner markets the business only via a well established website as the business is well known and highly rated.

Competition
There is no local competition.

Market
The client base consists of local residents from this very affluent and wide ranging catchment area of Surrey.

Opportunities
The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings and local and internet advertising.
• Increase the open hours to include Sunday trading.
• Increase the services to include Sunday lunches.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With an enhanced website.

Training and Handover
The owner would be available for an extensive training and handover period for the benefit of the new owners if required. The Owner would also be happy for an on the job observation period to assess the business prior to offers being made.


The present annual turnover is £240,000 with a gross profit of 68% and a net profit of £80,000. The wages are £30,000 pa.
The potential turnover of the business within the next 2 years is forecast to reach £300,000 pa given the changes that are required to be made to the business. Full financial disclosure is available on request after viewings and the signing of a confidentiality agreement.
Please note Phoenix do not guarantee the accuracy of these figures which are in many cases estimated and are not verified. Please do not rely on the accuracy of these figures and seek professional help before making any offers. Phoenix will not be held liable for any inaccuracies in these figures or any other statements contained in relation to this business.


Disclaimer
These details do not constitute part of an offer or contract.
The statements and descriptions given are made without warranties by Phoenix Business Agents Limited who it should be noted have NOT verified the information provided.
Purchasers should in all cases undertake financial due diligence using their own professional advisors before committing themselves in contract rather than relying on illustrations ,figures and information given on behalf of the seller.

Property information

Property:

Freehold

Living accommodation:

4 Double Bedrooms, family bathroom with bath, toilet and hand basin

Location:

- Situated in the High Street area of Bagshot in Surrey.
- Prominent location on main arterial road.
- Excellent on-site parking facilities for 22 to 25 vehicles.
- Surrounded by a well populated residential area with schools and other local amenities.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- A commercially thriving and very affluent area.
- Well linked with the A322, A30 and M3.
- Lightwater, Camberley, Woking, Bracknell, Farnborough and Wokingham all lie close by.
- A lifestyle area.
- Excellent local demographics for this type of area.

Premises details:

The property is semi detached and very spacious. The front is branded with a glass front and canopy. The customer service area has a ceramic tiled floor and ceiling with inset lighting. Air Conditioning/Heating and Gas Central Heating. The restaurant has approximately 70/80 covers. To the rear is a Bar with sink, fridge, mirror-backed shelving and touch screen till. Fully tiled ladies cloakroom with 2 toilets and 2 hand basins also fully tiled men’s cloakrooms with 1 toilet, urinal and 1 hand basin.

Large kitchen with mainly stainless steel equipment comprising of 1 6-burner gas cooker, 1-8 burner gas cooker, 2 salamanders, chargrill, single deep fryer, 1 4-door stainless steel counter fridge, 1 2-door plus 4 drawer stainless steel counter fridge, Hobart dishwasher, ice cream deep freeze, 1 upright deep freeze, 2 stainless steel fridges, stainless steel tables, 2 double sinks and drainers.
The first floor of the property is approximately 1,600 sq. ft. This is currently an office area, comprising of 5 offices, reception and fully fitted kitchen, ladies & gents toilets. This office area has potential for letting to provide a rental income.

Included in the sale and to the rear of the Restaurant is a 4 bedroom detached house with lounge, separate dining room, kitchen and cloakroom with toilet and wash basin.
First Floor
4 Double Bedrooms, family bathroom with bath, toilet and hand basin
External
Large brick built garage with ground and first floor, used for storage with a wine fridge and additional storage fridge. The Car Park provides spaces for up to 25 vehicles.

Business Operation

Expansion potential:

The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings and local and internet advertising.
• Increase the open hours to include Sunday trading.
• Increase the services to include Sunday lunches.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With an enhanced website.

Competition / Market:

There is no local competition.

Reasons for selling:

they now wish to sell due to retirement.

Trading hours:

Monday to Saturday: 12noon to 2.30pm – 6.30pm to 10.30pm
Sunday: Closed

Employees:

4 Double Bedrooms, family bathroom with bath, toilet and hand basin

Years established:

18 years

Other information

Support & training:

The owner would be available for an extensive training and handover period for the benefit of the new owners if required. The Owner would also be happy for an on the job observation period to assess the business prior to offers being made.

Furniture / Fixtures value:

£60,000 (included in the asking price)