Persian And English Cuisine Restaurant In Ramsgate Kent For Sale

Business description

Business Details
The particular highlights of the business are:
- A well established business.
- Good loyal clientele.
- Fully equipped business.
- Turnover in excess of £100,000 with a gross profit of £68,000 (see financial summary below).
- A business with great potential which has not been exploited because the current owner has other business interests.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business and ideal purchase for partnership.
- Low rent and rates.
- A niche concern with very little competition.
- Business enjoys superb local reputation.
- The concern provides English and Persian food.

History
Phoenix Business Transfer Agents are delighted to place onto the market this very well known Restaurant which has been established since 2007. The business has been in the hands of the current owner since 2007 and now wishes to sell due to other business interests.

Staffing
The concern employs 3 part time staff.

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

Marketing
The owner markets the business on Facebook and has a website.
No marketing or promoting of the business has recently been undertaken as the business is well known.

Competition
As far as competition is concerned there is another similar business that has a Persian menu.
Market
The client base consists of locals and tourists.

Opportunities
The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings including local and internet advertising.
• Increasing the product line to include other menus.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With an enhanced website.
• Music and special events.
• Wedding parties etc.
• Christmas Parties for local businesses.

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 DETAILS
The property is terraced and is off the main road. The front is branded with an attractive glass front. The main customer service area is wooden floor with a middle bar and reception area. It is very well presented and is very conveniently laid out.

The restaurant has 50 covers. The customer service point and bar is to the middle. There are customer toilets.

To the rear is a store room and a fully equipped kitchen.
There is a large basement that could be used as further seating if refurbishment was completed.

EXTERNAL
To the rear there is a small yard.

EQUIPMENT WITH SALE
All fixtures, fittings and equipment are included in the sale price and are valued at £20,000.

FINANCIAL DETAILS
The present annual turnover is £100,000 with a gross profit of £68,000. The present value of the stock is £5,000.
The potential turnover of the business within the next 2 years is forecast to reach £150,000 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 20 years with 16 years remaining. The rent is £12,000 pa with a review in 2 years. The lease may be renewable or negotiable for longer term if required. The rates are £3,500 and may be subject to discount.

Leasehold rent:

£12,000 pa per annum

Location:

- Situated in Ramsgate area of Kent.
- Prominent location just off main road.
- Part of local shopping center with large a car park and free parking after 6.00 pm.
- Surrounded by densely well populated residential area with schools and other local amenities.
- High levels of passing trade tourists and local people.
- Good volumes of traffic and pedestrian flow.
- Commercially thriving area with many shops and offices nearby.
- Well linked with London by road and train.
- Broadstairs, the city of Canterbury, the Port of Dover and the Ferry Port of Ramsgate all lie close by.
- Area enjoying much growth and re generation.
- A lifestyle area.

Premises details:

The property is terraced and is off the main road. The front is branded with an attractive glass front. The main customer service area is wooden floor with a middle bar and reception area. It is very well presented and is very conveniently laid out.

The restaurant has 50 covers. The customer service point and bar is to the middle. There are customer toilets.

To the rear is a store room and a fully equipped kitchen.
There is a large basement that could be used as further seating if refurbishment was completed.

EXTERNAL
To the rear there is a small yard.

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 including local and internet advertising.
• Increasing the product line to include other menus.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With an enhanced website.
• Music and special events.
• Wedding parties etc.
• Christmas Parties for local businesses.

Competition / Market:

As far as competition is concerned there is another similar business that has a Persian menu.

Reasons for selling:

Owner wishes to sell due to other business interests.

Trading hours:

Monday to Sunday: 9.30 am – 4.00 pm then 6.00 pm – 11.00 pm.

Employees:

The concern employs 3 part time staff.

Years established:

4 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:

£20,000 (included in the asking price)

Inventory / Stock value:

£5,000