London Leasehold Newsagent And Off Licence Price Reduced For Sale

Business description

The particular highlights of the business are:
- A well established business.
- Good loyal clientele.
- Fully equipped business with favorable lease terms (see below).
- Turnover in excess of £200,000 with a net profit of £46,800. (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.
- Business enjoys superb local reputation
- The concern provides Newspapers, Magazines, General Convenience Lines, Off License and Western Union money transfers.

History
Phoenix Business Transfer Agents are delighted to place onto the market this Leasehold Newsagents and Off License which has been established since 1996. The business has been in the hands of the current owner since November 2010 and he now wishes to sell and return to his native country.

Services
This very good business opportunity provides Newspapers, Magazines, General Convenience Lines, Off License and Western Union money transfers.

Staffing
The concern employs two part-time members of 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 are only low levels of 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 shop floor area. There is scope to increase the area by approximately 100 sq ft.
• Increasing the services to include The National Lottery and PayZone.
• 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.


The present annual turnover is £234,000 with a gross profit of 40% and a net profit of £46,800.
The wages are £200 pw. The present value of the stock is £15,000.
The potential turnover of the business within the next 2 years is forecast to reach £300,000 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 15 years remaining. The rent is £10,800 pa with a review in 2015. The lease may be renewable or negotiable for longer term if required. The rates are £1,770 pa.

Leasehold rent:

£10800pa per annum

Location:

- Situated in Finsbury Park 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.
- A commercially thriving area.
- Well linked with the A1201, A103, A503, A1 and A10.
- Harringay, Holloway, Hampstead Heath, Highgate and Hornsey all lie close by.
- 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 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 non-slip vinyl 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 are a toilet and staff facilities.

Size in square feet:

500sq 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 shop floor area. There is scope to increase the area by approximately 100 sq ft.
• Increasing the services to include The National Lottery and PayZone.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.

Competition / Market:

There are only low levels of local competition.

Reasons for selling:

he now wishes to sell and return to his native country.

Trading hours:

Monday to Saturday: 6am to 11pm
Sunday: 7am to 10.30pm

Employees:

The concern employs two part-time members of staff.

Years established:

15years

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