Highly Profitable Pub In Leicester 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 pa with a net profit of £60,000. (See financial summary below).
- A business with great potential which has not been exploited because the owners wish to retire.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business and ideal purchase for a couple.
- Very low overheads.
- Business enjoys superb local reputation.
- The concern provides a traditional pub service with a limited food menu.
- Tie for beers and bottles only.
- 98% of trade wet sales with very little dry sales which have not been exploited at all.
- Annual barrelage of 300 which is very impressive.

History
We are delighted to place onto the market this thriving Public house in Leicester which has been established over 100 years. The business has been in the hands of the current owner since 1999 and they now wish to sell due to retirement.

Services
This very good business opportunity provides a traditional pub service.

Staffing
The concern employs 3 staff, 1 full time and 2 part-time. The wages are £20,800.

Owners Role
The owners are involved in the day to day running of the business.

Marketing
The owner markets the business in local papers and has no website.

Competition
As far as competition is concerned there are 4 other pubs locally.

Market
The client base consists of locals, regulars and 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.
• Advertising the function room for weddings and other events
• Arranging more themed nights.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With the introduction of a website.
• Increase the food and lunchtime trade with a good menu.

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 £350,000 with a gross profit of 53% and a net profit of £60,000. The wages are £21,000 pa. The present value of the stock is £5,000.
The potential turnover of the business within the next 2 years is forecast to reach £410,000 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 us the agent 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 with 8 years remaining. The rent is £45,292 pa. The lease may be renewable or negotiable for longer term if required. The rates are £5,730 pa.

Leasehold rent:

£45292pa per annum

Living accommodation:

On the first floor there are 2 double and 2 single rooms with a bathroom and lounge as well as a kitchen.

Location:

- Situated in Blaby area of Leicester in Leicestershire.
- Prominent location on main arterial road.
- Car park with premises.
- 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 main arterial road.
- Business situated on outskirts of Leicester on the way to Ludderworth.
- Area enjoying much growth and re generation.
- A lifestyle area.
- Excellent local demographics for this type of area.

Premises details:

The property is detached and has a car park and beer garden. The bar is open plan and has many features. The toilets are to the rear and there is a large cellar and kitchen.

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.
• Advertising the function room for weddings and other events
• Arranging more themed nights.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With the introduction of a website.
• Increase the food and lunchtime trade with a good menu.

Competition / Market:

As far as competition is concerned there are 4 other pubs locally.

Reasons for selling:

due to retirement.

Trading hours:

Monday to Thursday Noon to 11 pm
Friday and Saturday Noon to 1 am
Sunday Noon to 10.30 pm

Employees:

The concern employs 3 staff, 1 full time and 2 part-time. The wages are £20,800.

Years established:

100years

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:

£30,000 (included in the asking price)

Inventory / Stock value:

£5,000