Fine Dinning Restaurant And Bar In Prime Location For Sale

Business description

The particular highlights of the business are:
- A newly established business.
- Good loyal clientele.
- Fully equipped business with favorable lease terms (see below).
- Turnover in excess of £340,000 with a gross profit of £210,000. (See financial summary below).
- A business with great potential to increase and develop.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business and ideal purchase for partnership or couple.
- Low rent and rates for the area.
- A niche concern with very little competition.
- Business enjoys superb local reputation.
- The concern provides a fine a dining experience to a very high standard.

History
Agents are delighted to place onto the market this Restaurant and Bar which has been established since 2010. The business has been in the hands of the current owner since 2010 and now wishes to sell to spend more time with family.

Services
This very good business opportunity provides Fine Dinning and Bar.

Staffing
The concern employs 3 full time and 9 part-time.

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

Marketing
The owner markets the business on “Trip Adviser” This is Brighton” Time out in Brighton” and Argus food and drink guide” and has a website with online booking.

Competition
As far as competition is concerned there is another similar business some miles away.

Market
The client base consists of locals, tourist and distention diners.

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.
• Increasing the product line to include private dinning.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• Increasing the number of covers.
• Open longer Hours Licensed till 2am Friday and Saturday.
• Open on Mondays.

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 £340,000 with a gross profit of 68%. The wages are £8000 per month. The present value of the stock is £5,000.
The potential turnover of the business within the next 2 years is forecast to reach £600,000 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:

Leasehold

Lease terms:

The original length of the lease was 16 years with 12 years remaining. The rent is £35,000 pa. The rates are £4000.

Leasehold rent:

£35000pa per annum

Location:

- Situated in the very busy area of Brighton and Hove.
- Prominent location just off a main arterial road.
- Part of the shopping and dining area.
- Excellent parking facilities.
- Surrounded by densely well populated residential area with schools and other local amenities.
- High levels of passing trade
- Good volumes of traffic and pedestrian flow
- Commercially thriving area with many shops and Restaurant.
- Well linked with Central London by Rail from Brighton Main Line.
- Hove and Brighton Sea fronts and the famous Lanes area of Brighton all lie close by.
- Area enjoying much growth and re generation.
- A lifestyle area.
- Excellent local demographics for this type of area.

Premises details:

The property is terraced. The front is branded. There are manual shutters and a CCTV system. The main customer service area is wooden flooring. It is very well presented.

The restaurant has a total of 90 covers. There are customer toilets.

There is a store room. There are a toilet and staff facilities and a fully equipped kitchen.

Ground Floor
On the ground floor there is kitchen /preparation area. A dinning room with 12 covers and an entrance lobby.

First Floor
On the first floor there is a 30 covers restaurant that has been refurbished over the last 6 months to a high standard.
There is an office (that could be developed for Private Dinning room for up to 10 covers.)
There is also a staff changing room and further storage.

Basement
There is a Bar area with a further 50 covers the bar has also been refurbished to a high standard.

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.
• Increasing the product line to include private dinning.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• Increasing the number of covers.
• Open longer Hours Licensed till 2am Friday and Saturday.
• Open on Mondays.

Competition / Market:

As far as competition is concerned there is another similar business some miles away.

Reasons for selling:

now wishes to sell to spend more time with family.

Trading hours:

Tuesday to Sunday: 12pm to 12am closed between 3.00pm and 6.00pm.
Monday Closed

Employees:

The concern employs 3 full time and 9 part-time.

Years established:

1 year

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:

£50,000 (included in the asking price)

Inventory / Stock value:

£5,000