Freehold Or Leasehold Option Busy Kent Off Licence 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 £182,000 pa with a gross profit of £40,000 (see financial summary below).
- A business with great potential.
- 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.

History
Phoenix Business Transfer Agents are delighted to place onto the market this Freehold or Leasehold Shop which has been established since 2008. The business has been in the hands of the current owner since 2008 and now wishes to sell due to retirement.

Services
This very good business opportunity provides off license and general goods.

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 mornings.
• Increasing the product line to include newspapers.
• Working more hands on hours and saving on wages.
• 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 £182,000 with a gross profit of £40,000. The present value of the stock is £6,000.
The potential turnover of the business within the next 2 years is forecast to reach £225,000 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

Lease terms:

The original length of the lease was 10 years with 10 years remaining. The rent is £10,400pa. The lease may be renewable or negotiable for longer term if required. The rates are £nil this does not include the flats and shops.
The Freehold will include flats and shops can be purchased at £175,000.

Leasehold rent:

£10400pa per annum

Living accommodation:

The property is terraced and part of a parade of shops. The front is branded with an attractive glass front. The main customer service area is carpeted with a middle aisle and shelving to the walls. It is very well presented and is very conveniently laid out. To the rear is a store room. There is a toilet, staff facilities. There are 4 one bedroom flats that are included in the freehold together with 2 shops on either side. All the flats and shops are on long term lease with a yearly rent of £330 pa in total. External To the front there is a pavement area. To the rear is parking for 1 car.

Location:

- Situated in the high street area of Sheerness in Kent.
- Prominent location on main arterial road.
- Part of a parade of shops and part of the main shopping centre.
- 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.
- Area enjoying much growth and regeneration.
- A lifestyle area.
- Excellent local demographics for this type of area.
- Affluent area.

Premises details:

The property is terraced and part of a parade of shops. The front is branded with an attractive glass front. The main customer service area is carpeted with a middle aisle and shelving to the walls. It is very well presented and is very conveniently laid out.
To the rear is a store room. There is a toilet, staff facilities.

There are 4 one bedroom flats that are included in the freehold together with 2 shops on either side. All the flats and shops are on long term lease with a yearly rent of £330 pa in total.

External
To the front there is a pavement area.
To the rear is parking for 1 car.

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 mornings.
• Increasing the product line to include newspapers.
• Working more hands on hours and saving on wages.
• With the introduction of a website and e-commerce.

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 retirement.

Trading hours:

Monday to Saturday: 12.00pm - 10.00pm
Sunday 2.00pm – 10.00pm

Employees:

The concern employs no staff and is family run.

Years established:

3 yrs

Other information

Furniture / Fixtures value:

£3,000 (included in the asking price)

Inventory / Stock value:

£6,000

Leasehold asking price:

£58,000 (Furniture / Fixtures included)