Leasehold Newsagent Convenience Store North Somerset 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 £140,000 pa (see financial summary below).
- A business with great potential which has not been exploited because of the current owner’s family commitments and ill health.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business and ideal for a husband and wife team
- Low rent and rates.
- Very low overheads.
- A niche concern with very little competition.
- Business enjoys superb local reputation.
- The concern provides newspapers, general convenience, off license, ice creams, confectionary, tobacco products and a small range of hardware.

History
Phoenix Business Transfer Agents are delighted to place onto the market this Leasehold Newsagents, which has been established since 1970’s. The business has been in the hands of the current owner since 2003 and he now wishes to sell due to family commitments and ill health.

Services
This very good business opportunity provides newspapers, general convenience, off license, ice creams, confectionary, tobacco products and a small range of hardware.

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
There is no 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 opening hours to include later evening opening to take full advantage of the off license.
• Increasing the product ranges of convenience products by removing the hardware and remerchandising that area of the store. There is also plenty of scope to develop and increase the range of beers, wines and spirits.
• Introduce the National and Health Lotteries, PayZone and/or PayPoint
• 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 £143,000 with a gross profit of £42,900. The present value of the stock is £5,000.
The potential turnover of the business within the next 2 years is forecast to reach £180,000 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:

Leasehold

Lease terms:

The original length of the lease was 21 years with 19.5 years remaining. The rent is £8,000 pa with a review in 2013. The lease may be renewable or negotiable for longer term if required. The rates are £1,900.

Leasehold rent:

£8000pa per annum

Location:

- Situated close to the town centre area of Clevedon in North Somerset.
- Prominent location on main arterial road.
- Excellent free parking facilities nearby.
- Industrial estates nearby.
- 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.
- Commercially thriving area.
- Well linked with the M5, B3130, B3124 and B3133.
- Bristol, Weston-Super-Mare, South Wales, Devon and Cornwall all lie close by.
- 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, part of a parade of shops and is approximately 500 sq ft. The front is branded with an attractive glass front. There is a CCTV system. 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 and staff facilities.

Size in square feet:

500 sq 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 opening hours to include later evening opening to take full advantage of the off license.
• Increasing the product ranges of convenience products by removing the hardware and remerchandising that area of the store. There is also plenty of scope to develop and increase the range of beers, wines and spirits.
• Introduce the National and Health Lotteries, PayZone and/or PayPoint
• Becoming more efficient with staffing levels.
• With the introduction of a website and e-commerce.

Competition / Market:

There is no local competition.

Reasons for selling:

he now wishes to sell due to family commitments and ill health.

Trading hours:

Monday to Saturday 5.30am – 7.30pm
Sunday: 5.30am – 2.30pm

Employees:

The concern employs no staff and is family run.

Years established:

41 years

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:

£7,500 (included in the asking price)

Inventory / Stock value:

£5,000