Fish And Chip Shop Restaurant With Living Accommodation For Sale

Business description

The particular highlights of the business are:
- A well established business.
- Good loyal clientele.
- Fully equipped business with favourable lease terms (see below).
- Turnover in excess of £208,000 pa with a gross profit of £160,000(see financial summary below).
- A business with great potential which has not been exploited because family reasons
- An easily run operation.
- A good first time buyers business and ideal purchase for couple
- Low rent and rates.
- Very low overheads.
- A niche concern with very little competition.
- Business enjoys superb local reputation
- The concern provides fish and chips take away and restaurant.

History
We are delighted to place onto the market this large unit which has been established since 1980. The business has been in the hands of the current owner since 2000 and now wishes to sell due to family reasons.

Services
This very good business opportunity provides Fish and Chips Restaurant and Take away.

Staffing
The concern employs no staff and is family run.

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

Marketing
No marketing or promoting of the business has recently been undertaken as the business is well known.

Competition
As far as competition is concerned there is another similar business some 1/4 miles away.

Market
The client base consists of locals and passing.

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 opening hours to include later PM.
• Increasing the product line to include new products.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With the introduction of a website and e-commerce.
• To extend the Restaurant by a further 16 covers

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.

Financial Details
The present annual turnover is £208,000with a gross profit of £160,000The present value of the stock is £2000
The potential turnover of the business within the next 2 years is forecast to reach £275,000 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 20 years. The rent is £20,000 pa with a review in 5 years. The lease may be renewable or negotiable for longer term if required. The rates are £5,000.

Leasehold rent:

£20,000 per annum

Living accommodation:

On the first floor there is 5 bedrooms Living room, Kitchen, Bathroom and toilet.

Location:

- Situated in the busy area of Manor Street in Braintree.
- Prominent location on main arterial road.
- Excellent free parking facilities nearby.
- Industrial estates nearby.
- Surrounded by densely populated residential area with schools and other local amenities.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Commercially thriving area.
- Well linked with the center of Braintree
- Bus station and Central Braintree all lie close by.
- Area enjoying much growth and regeneration.
- A lifestyle area.
- Excellent local demographics for this type of area.
- Affluent area.

Premises details:

The property is detached with a very large yard area and side entrance. The front is branded with an attractive glass front. The main customer service area is tiled It is very well presented and is very conveniently laid out.

The restaurant has 18 covers. The customer service point is to the side. There is an overhead menu. There are customer toilets.

To the rear is a large store/preparation room. There is a toilet, staff facilities and a fully fitted kitchen.

First Floor
On the first floor there is 5 bedrooms Living room, Kitchen, Bathroom and toilet.

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 opening hours to include later PM.
• Increasing the product line to include new products.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With the introduction of a website and e-commerce.
• To extend the Restaurant by a further 16 covers

Competition / Market:

As far as competition is concerned there is another similar business some 1/4 miles away.

Reasons for selling:

now wishes to sell due to family reasons.

Trading hours:

Monday to Sunday 11.00am - 10.00pm

Employees:

The concern employs no staff and is family run.

Years established:

has been established since 1980

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:

£20,000 (included in the asking price)

Inventory / Stock value:

£2,000