Leasehold Salad Bar In North London 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 £190,000 pa with a net profit of £30,000 (see financial summary below).
- A business with great potential.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business
- Low rent and rates.
- Very low overheads.
- A niche concern with very little competition.
- Business enjoys superb local reputation.
- The concern provides salads, waffles, crepes, wraps, smoothies, milkshakes, frosteas, chocolattes and freshly made juices.

History
We are delighted to place onto the market this profitable Leasehold Salad Bar which has been established since 2010. The business has been in the hands of the current owner since 2010 and he now wishes to sell due to other business interests.

Services
This very good business opportunity provides salads, waffles, crepes, wraps, smoothies, milkshakes, frosteas, chocolattes and freshly made juices.

Staffing
The concern employs 1 full-time and 1 part-time and the wages are £6.00 ph.

Owners Role
The owner is involved in the day to day running of the business.

Marketing
The owner markets the business on Twitter, Facebook and Linkdin and also has a website.

Competition
There is no local competition.

Market
The client base consists of shoppers and commuters in this very busy area of London.

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 product line to include coffees, confectionary, pastries and cakes.
• Promoting the basement area for private functions
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With an enhanced website.

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 £197,000 with a net profit of £30,000. The wages are £6.00 ph. The present value of the stock is £200.
The potential turnover of the business within the next 2 years is forecast to reach £230,000 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 10 years with 9 years remaining. The rent is £28,500 pa with a review in 2015. The lease may be renewable or negotiable for longer term if required. The rates are £11,000.

Leasehold rent:

£28500pa per annum

Location:

- Situated in the Finchley Road area of Swiss Cottage in North London.
- Prominent location on main arterial road.
- Part of a parade of shops.
- Excellent 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 A41, A5 and A502.
- Camden Town, Marylebone, Regents Park and Belsize Park 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 900 sq ft with a similar sized area in the basement. The front is branded with an attractive glass front. There are electric shutters. The main customer service area is wooden with a middle aisle and shelving to the walls. It is very well presented and is very conveniently laid out.

The salad bar has 24 covers. The customer service point is to the left. There is an overhead menu. There are customer toilets.

In the basement is a store room and an office. There is a 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 product line to include coffees, confectionary, pastries and cakes.
• Promoting the basement area for private functions
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With an enhanced website.

Competition / Market:

There is no local competition.

Reasons for selling:

now wishes to sell due to other business interests.

Trading hours:

Monday to Sunday 7.00am – 10.00pm

Employees:

The concern employs 1 full-time and 1 part-time and the wages are £6.00 ph.

Years established:

1 year

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:

£17,000 (included in the asking price)

Inventory / Stock value:

£200