Leasehold Post Office & Convenience Store In Bedfordshire 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 £480,000 pa with a net profit of £92,711(see financial summary below).
- A business with great potential.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business and ideal purchase for a husband and wife team or family
- Low rent and rates.
- Very low overheads.
- A niche concern with very little competition.
- Business enjoys superb local reputation
- The concern provides Post Office services including Car Tax, Passport check, send and currency on demand, a comprehensive range of general convenience lines, ATM, photo booth, photocopying, lottery and off license.

History
Agents are delighted to place onto the market this leasehold Post Office and convenience store which has been established since the 1940’s. The business has been in the hands of the current owner since 2001 and he now wishes to sell due to other business interests.

Services
This very good business opportunity provides Post Office services including Car Tax, Passport check, send and currency on demand, a comprehensive range of general convenience lines, ATM, photo booth, photocopying, lottery and off license.

Staffing
The concern employs 2 full time and 1 part time staff.

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 for the Post Office services and Lottery but there is a one other store providing local competition for convenience products.

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 take more advantage of the off license.
• Becoming more efficient with staffing levels.
• 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.

Property information

Property:

Leasehold

Lease terms:

The current owners own the freehold and are offering a new 10 year lease with 3 yearly reviews. The rent is £24,000 pa. The lease is negotiable for longer term if required. The rates are £4,600.

Leasehold rent:

£24,000 per annum

Living accommodation:

On the first floor there is a 4 bedroom self contained flat

Location:

- Situated in the centre of Caddington in Bedfordshire.
- Prominent location on main arterial road.
- Part of a parade of shops.
- Excellent free parking facilities 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 M1 Junction 10 and A5.
- Luton, Dunstable, and Harpenden 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 1,500 sq ft. The front is branded with an attractive glass front. There are electric shutters and a CCTV system. The main customer service area is tiled with a middle aisles and shelving to the walls. It is very well presented and is very conveniently laid out. To the rear is a store room, toilet, staff facilities and a fully fitted 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.
• Increasing the opening hours to take more advantage of the off license.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With the introduction of a website and e-commerce.

Competition / Market:

There is no local competition for the Post Office services and Lottery but there is a one other store providing local competition for convenience products.

Reasons for selling:

Other business interests

Trading hours:

Monday to Saturday Shop 6.00am – 9. 00pm
Sunday 6.00am – 5. 00pm
Monday to Friday Post Office 9.00am – 5.30pm
Saturday 9.00am – 12.30pm

Employees:

3

Years established:

72 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:

£35,000 (included in the asking price)

Inventory / Stock value:

£40,000