Licensed Family Owned Snooker And Pool Club For Sale

Business description

This is a private, family owned business with around 3,000 registered members, 100 of whom play between four and five times a week and the rest on a more casual basis.

The building measures approximately 118ft deep x 58ft along the front (36m x 17.7m) and there is a little extra to the rear, because the building is slightly wider, so the whole plot is in excess of 7,000 sq ft (650 sq m). It was built to last and is in a very good position for future housing development. The business could be re-located if planning was sought and granted, there is virtually no competition so customers will go to where the tables are located.

There is a well stocked bar is a large room with several tables and a 42” flat screen plasma television and three gaming machines, two have £250.00 jackpots and the other a £5.00 jackpot. A selection of fast food and breakfasts are available in this room.

There are eighteen standard snooker tables, on two floors and a separate room with a “Match table” which can be used for competitions. In addition there are three American pool tables and an English pool room which is large enough to be used for pool tournaments and has three tables plus a recently purchased competition table on a raised section.

All tables appear to be in excellent condition and we are advised that all cloths and cushions are replaced at least every five months on every table.

This business was started in 1982 and it maintains a reasonably constant turnover, with a good declared profit. It is very well organised easy to operate and very secure, the present owner has made a very good living from it but now wants to enjoy his profits in his retirement. The business is operated by the owner’s son and his wife and his son in law manages the business with the help of four part time bar staff, cleaners are also employed and the wage bill is nearly £30,000.

In out opinion this is an excellent business in a valuable building with more potential that the account show although they still show a good profit

Accounts for year ending 31st October 2006 show a turnover of £ 219,226, which is an increase on the previous year. We have accounts back to 2003 all showing a turnover in excess of £200,000. We are advised that 50% of this is from food and bar sales.

The declared operating profit for 2006 was over £34,000 but with all of the allowable add backs, including the rent, depreciation etc: this business would show a profit around £70.000 for a working couple and this does not reflect the true potential of the business. There would also be a clear balance sheet on completion.

Property information

Property:

Freehold

Location:

In a busy road, on a bus route, quite close to the town cenre

Other information

Expansion potential:

There are various ways to expand this business

Competition / Market:

Little locally

Support & training:

Any required

Reasons for selling:

Retirement of the senior partner

Financing available:

This business and property should easily sustain finance, subject to status