Freehold Guest House In Great Yarmouth 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 £27,000 pa with a net profit of £8,000. (See financial summary below).
- A business with great potential.
- An easily run operation.
- A good first time buyers business and ideal purchase for a husband and wife team.
- Very low overheads.
- Business enjoys superb local reputation.
- The concern provides Bed & Breakfast and is Dog Friendly.

History
Phoenix Business Transfer Agents are delighted to place onto the market this Freehold Guest House which has been established since 1990. The business has been in the hands of the current owner since 2006 and she now wishes to sell due to retirement.

Services
This very good business opportunity provides Bed & Breakfast and is Dog Friendly.

Staffing
The concern employs no staff.

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

Marketing
The owner markets the business via two websites.

Competition
As far as competition is concerned there many other similar businesses in Great Yarmouth but very few that can boast being Dog Friendly.

Market
The client base consists of tourists

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.
• Becoming more efficient with staffing levels.
• 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 £28,000 with a net profit of £8,000. The present value of the stock is £200.
The potential turnover of the business within the next 2 years is forecast to reach £56,000 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:

The property is terraced and has 7 guest rooms comprising of 3 super king size rooms and 1 king size all with en-suite bathrooms. There are also 3 double standard and single rooms with shared bathroom facilities. There is also a well presented dining/breakfast room and spacious owners accommodation. All rooms are equipped with: Freeview tv, hairdryer, towels, tea/coffee making facilities, fan, radio, alarm clocks, complimentary toiletries, biscuits and chocolates.

Location:

- Situated close to the sea front area of Great Yarmouth in Norfolk.
- Prominent location on main arterial road.
- Excellent free parking facilities with permits issued by the Guest House.
- 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 thriving tourist area.
- Well linked with the A12, A47 and A419.
- The Beach, Norwich, Lowestoft and the Norfolk Broads 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 and has 7 guest rooms comprising of 3 super king size rooms and 1 king size all with en-suite bathrooms. There are also 3 double standard and single rooms with shared bathroom facilities. There is also a well presented dining/breakfast room and spacious owners accommodation.

All rooms are equipped with: Freeview tv, hairdryer, towels, tea/coffee making facilities, fan, radio, alarm clocks, complimentary toiletries, biscuits and chocolates.

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.
• Becoming more efficient with staffing levels.
• With an enhanced website.

Competition / Market:

As far as competition is concerned there many other similar businesses in Great Yarmouth but very few that can boast being Dog Friendly.

Reasons for selling:

wishes to sell due to retirement.

Trading hours:

Open 7 days a week.

Employees:

The concern employs no staff.

Years established:

21years

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:

£200