Freehold Minimarket In Cardiff With Extensive Accommodation 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 £350,000 with a net profit of £51,678. (See financial summary below).
- A business with great potential which can be extended to increase the shop floor area.
- An easily run operation.
- An ideal purchase for a national chain of minimarkets/convenience stores or a family.
- Low rent and rates.
- Very low overheads.
- A niche concern with very little competition.
- Business enjoys superb local reputation.
- The concern provides an extensive range of convenience products, the National Lottery, PayPoint, Western Union, newspapers and magazines, frozen foods and frozen ready meals.

History
We are delighted to place onto the market this Freehold Minimarket with Extensive Accommodation which has been established since the 1960’s. The business has been in the hands of the current owner since 1998 and he now wishes to sell due to retirement.

Services
This very good business opportunity provides an extensive range of convenience products, the National Lottery, PayPoint, Western Union, newspapers and magazines, frozen foods and frozen ready meals.

Staffing
The concern employs no staff and is a family run operation.

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
There is very little local competition.

Market
The client base consists of local residents with high volumes of passing trade.

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 in-store bakery, fresh fruit and vegetables, flowers, newspaper deliveries and an internal or external ATM as there is no local bank or other ATM available nearby.
• Becoming more efficient with staffing levels.
• With the introduction of a website and e-commerce.

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 £361,239 with a gross profit of £87,337 and a net profit of £51,678.
The present value of the stock is £50,000.
The potential turnover of the business within the next 2 years is forecast to reach £450,000 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 we 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. We 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 we 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:

On the first floor there is a very spacious 6 bedroom flat, decorated to a very high standard, which comprises of 4 single rooms and 2 doubles. There are also 2 sitting rooms, 1 bathroom and 2 toilets.

Location:

- Situated in the affluent Rhiwibine area of Cardiff in South Wales.
- Prominent location on main arterial road.
- Excellent parking free facilities.
- Surrounded by a densely populated residential area with schools and other local amenities.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- A commercially thriving area.
- Well linked with the A470, A469, A4054 and M4.
- Cardiff Bay, Cardiff City Centre, Newport and the Welsh Valleys 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 is part of a parade of shops and is approximately 1,900 sq ft. The front is branded with an attractive glass front. There is a CCTV system. The main customer service area is tiled with a middle aisle and shelving and racking to the walls. It is very well presented and is very conveniently laid out.

To the rear is a store room. There are a toilet and staff facilities and fully fitted kitchen/dining area.

Size in square feet:

1900sq ft

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 in-store bakery, fresh fruit and vegetables, flowers, newspaper deliveries and an internal or external ATM as there is no local bank or other ATM available nearby.
• Becoming more efficient with staffing levels.
• With the introduction of a website and e-commerce.

Competition / Market:

There is very little local competition.

Reasons for selling:

wishes to sell due to retirement.

Trading hours:

Monday to Saturday: 7.30am to 9pm
Sunday: 8am to 8pm

Employees:

0

Years established:

51years

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:

£40,000 (included in the asking price)