Leasehold Newsagents With Accommodation In Brighton For Sale

Business description

Business Details
The particular highlights of the business are:
- Very well located.
- A well established business.
- Good loyal clientele.
- Fully equipped business with favorable lease terms (see below).
- Turnover in excess of £225,000 with a net profit of £30,000. (See financial summary below).
- A business with great potential which has not been exploited because the owner wishes to retire.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business and ideal purchase for a couple or a partnership.
- Low rent and rates.
- Very low overheads.
- A niche concern with very little competition.
- Business enjoys superb local reputation
- The concern provides a CTN and off licence service.
- Property comes with 2 x 2 bed room flats.

History
Phoenix Business Transfer Agents are delighted to place onto the market this well operated CTN in Brighton which has been established since 1980. The business has been in the hands of the current owner since 2006 who now wishes to sell due to retirement.

Services
This very good business opportunity provides a CTN and off licence service.

Staffing
The concern employs one full time member of staff who is paid £250 per week.

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 locals 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.
• Increasing the opening hours to include later openings.
• Increasing the product line to include more varied products.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.

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.

Financial Details
The present annual turnover is £225,000 with a gross profit of 25% and a net profit of £30,000. The wages are £250 per week. The present value of the stock is £15,000.
The potential turnover of the business within the next 2 years is forecast to reach £400,000 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 16 years with 12 years remaining. The rent is £10,800 pa with a review in 3 years. The lease may be renewable or negotiable for longer term if required. The rates are £2,157 pa.

Leasehold rent:

£10,800 per annum

Living accommodation:

On the first floor is a 2 bed room flat with a further 2 bed room flat in the basement.

Location:

- Situated in Edward Street area of Brighton in West Sussex.
- Prominent location on main arterial road.
- Excellent parking facilities opposite premises.
- Surrounded by a well 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 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 20ft x 30 ft. The front is branded with an attractive glass front. 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 is a toilet and staff facilities.

First Floor
On the first floor is a 2 bed room flat with a further 2 bed room flat in the basement.

Size in square feet:

20ft x 30 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 openings.
• Increasing the product line to include more varied products.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.

Competition / Market:

There is no local competition.

Reasons for selling:

retirement.

Trading hours:

Monday to Saturday: 6 am – 7 pm.
Sunday: 6 am – 1 pm

Employees:

The concern employs one full time member of staff who is paid £250 per week.

Years established:

established since 1980

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:

£15,000 (included in the asking price)

Inventory / Stock value:

£15,000