Hereford Leasehold Thai Restaurant For Sale

Business description

The particular highlights of the business are:
• The owner may be prepared to accept staggered payments for the business, enabling the buyer to pay from profits although a lump sum sale would be more favorably considered.
• Ideally located concern offering excellent lifestyle.
• A well established business.
• Good loyal clientele.
• Fully equipped business with favorable lease terms (see below).
• Turnover in excess of £100,000 with a gross profit of 70% and a net profit of £20,000. (See financial summary below). This is very impressive considering the credit crunch.
• A business with great potential which has not been exploited because the owners have other business interests.
• An easily run operation.
• Good loyal well trained staff.
• A good first time buyers business.

Phoenix Business Transfer Agents are delighted to place onto the market this thriving Thai restaurant which has been established since 1997. The business has been in the hands of the current owner since 2007 and she now wishes to sell due to other business interests.

This very good business opportunity provides authentic Thai food.

The concern employs 2 full time staff one front of house who is paid £150 per week and the other £200 being the chef.

The owners’ role is very little and he visits the business very rarely.

The owner markets the business in local newspapers.

As far as competition is concerned there is only a couple of Thai restaurants locally.

The client base consists of locals and professionals.

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 afternoon trading.
• Working more hands on hours and saving on wages.
• With the introduction of a website.

The owner would be available for a business familiarisation period of one week 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 turnover is £100,000 with a gross profit of 70% and a net profit of £20,000. The wages are £350 per week. The present value of the stock is £500 and the fixtures fittings and equipment are worth £15,000.
The potential turnover of the business within the next 2 years is forecast to reach £150,000 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.

Property information

Property:

Leasehold

Lease terms:

The original length of the lease was 10 years with 8 years remaining. The rent is £17,400 with a review in 4 years. The rates are £3550.

Location:

This superb business opportunity is situated in Hereford in the County of Herefordshire. It is In the town centre just behind the High Street and is surrounded by many other businesses and offices. The locale offers a good lifestyle opportunity.

Premises details:

Property Details
The property is terraced and is part of a parade of shops and is approximately 20 ft x 30 ft. The front is branded with an attractive glass front. There are electric shutters and a CCTV system. The main customer service area is carpeted. It is very well presented and is very conveniently laid out.

The restaurant has 18 covers on the ground floor.
To the rear is a store room and a fully equipped kitchen.

First Floor
On the first floor there are 32 covers and the toilets

Other information

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 afternoon trading.
• Working more hands on hours and saving on wages.
• With the introduction of a website.

Competition / Market:

As far as competition is concerned there is only a couple of Thai restaurants locally.

Support & training:

The owner would be available for a business familiarisation period of one week 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.

Reasons for selling:

Owner wishes to sell due to other business interests.

Trading hours:

The business operates from Monday to Sunday between 6pm and 11pm.