Profitable Newsagent In Somerset For Sale

Business description

Business Details
The particular highlights of the business are:
- The owner may be prepared to accept staggered payments for the business, enabling the buyer to pay from profits although a lump sum sale would be more favorably considered.
- A well established business.
- Good loyal clientele.
- Fully equipped business with favorable lease terms (see below).
- Turnover in excess of £155,000 with a net profit of £22,000 (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 newspapers, tobacco, confectionary, groceries, greeting cards, soft drinks and ice cream.

History
Phoenix Business Transfer Agents are delighted to place onto the market this profitable newsagent in Somerset which has been established since 2006. The business has been in the hands of the current owner since 2006 and he now wishes to sell due to retirement.

Services
This very good business opportunity provides newspapers, tobacco, confectionary, groceries, greeting cards, soft drinks and ice cream.

Staffing
The concern employs no staff and is a family run business.

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 some local competition but regarded as low level.

Market
The client base consists of local residents, tourists and some by passers.

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.
• Apply for off license permission.
• Increasing the opening hours to include later afternoons and evening.
• Increasing the product line to include wines, spirits and beers.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With the introduction of a website 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 Details
The property is terraced, part of a parade of shops and is approximately 900 sq ft. The front is branded with an attractive glass front. The main customer service area is carpeted with a middle aisle, shelving and racking to the walls. It is very well presented and is very conveniently laid out.

Equipment with sale
All fixtures, fittings and equipment are included in the sale price and are valued at £2,500.

Financial Details
The present annual turnover is £156,000 with a gross profit of 50% and a net profit of £22,000.The present value of the stock is £4,500.
The potential turnover of the business within the next 2 years is forecast to reach £195,000 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 6 years remaining. The rent is £12,000 pa with a review in 2013. The lease may be renewable or negotiable for longer term if required. The rates are £TBC.

Leasehold rent:

£12,000 pa per annum

Location:

- Situated in the town centre area of Highbridge in Somerset.
- Prominent location on main arterial road.
- Part of a parade of shops.
- Excellent parking facilities nearby.
- Industrial estates nearby.
- Surrounded by densely well populated residential area with schools and other local amenities.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Well linked with the A38 and M5.
- Burnham-on-Sea and Weston Super-Mare 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, part of a parade of shops and is approximately 900 sq ft. The front is branded with an attractive glass front. The main customer service area is carpeted with a middle aisle, shelving and racking to the walls. It is very well presented and is very conveniently laid out.

Size in square feet:

900 sq 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 including local and internet advertising.
• Apply for off license permission.
• Increasing the opening hours to include later afternoons and evening.
• Increasing the product line to include wines, spirits and beers.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With the introduction of a website and e-commerce.

Competition / Market:

There some local competition but regarded as low level.

Reasons for selling:

Owner wishes to sell due to retirement.

Trading hours:

Monday to Friday: 5.00 am to 4.00 pm.
Saturday: 5.00 am to 1.00 pm.
Sunday: 5.00 am to 11.00 pm.

Employees:

The concern employs no staff and is a family run business.

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:

£2,500 (included in the asking price)

Inventory / Stock value:

£4,500