Profitable Leasehold General Store Barnstaple Devon For Sale

Business description

The particular highlights of the business are:
- Ideally located concern offering excellent lifestyle.
- A well established business.
- Good loyal clientele.
- Fully equipped business with favorable lease terms (see below).
- Turnover in excess of £130,000 pa with a net profit of £22,000. (See financial summary below).
- There is an ATM Machine on the premises which guarantees £5,500 pa
- A business with great potential which has not been exploited as the business is well know
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business.

History
Agents are delighted to place onto the market this profitable Leasehold General Store which has been established since 1985. The business has been in the hands of the current owner since 2009 and the current owner now wishes to sell due to his desire to return to London to be closer to his family.

Services
This very good business opportunity provides Newspapers and magazines

Staffing
The concern has no staff and is family run.

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

Marketing
The owner currently relies on word of mouth to promote the business but recognizes that there is significant opportunity to improve the turnover by introducing some local advertising.

Competition
There is very little competition in the immediate proximity of the business.

Market
The client base consists of mainly local residents


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 a newspaper delivery service, National Lottery and Pay Point.
• Introduction of the internet 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 original length of the lease was 16 years with 14 years remaining. The rent is £10,500 pa with a review in 3 years. The lease may be renewable or negotiable for longer term if required. The rates are £1,250pa.

Leasehold rent:

£75,000 per annum

Living accommodation:

On the first floor there is a 3 bedroom flat with a kitchen and bathroom which the owner currently lives in, but this could be let separately if required.

Location:

- Situated near the centre of Barnstaple in Devon.
- Prominent location on main cross roads.
- Part of a parade of shops.
- Parking facilities nearby.
- Surrounded by densely populated residential area with schools and other local amenities.
- Local population consists of mixed age groups of students and older couples.
- Area offers exceptional lifestyle.
- Very good local trade.
- Very high levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Commercially thriving area.
- Well linked with the main A39 and good railway links.

Premises details:

The property is terraced and is part of a parade of shops and is approximately 100ft x 125 ft. The front is branded with an attractive glass front. There is a CCTV system. The main customer service area has vinyl flooring 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 is a toilet, staff facilities and a fully equipped 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 a newspaper delivery service, National Lottery and Pay Point.
• Introduction of the internet and e-commerce.

Competition / Market:

There is very little competition in the immediate proximity of the business.

Reasons for selling:

to be closer to his family

Trading hours:

Monday to Thursday: 07.00am to 10.00pm
Friday: 07:00am to 11:00pm
Saturday: 08.00am to 10:00pm
Sunday: 09:00am to 10:00pm

Employees:

0

Years established:

1985

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:

£10,000 (included in the asking price)