Profitable Restaurant In Alford Area Of Lincolnshire For Sale

Business description

The particular highlights of the business are:
- An established business.
- Good loyal clientele.
- Fully equipped freehold business (see below).
- Turnover in excess of £67,000 pa with a net profit of £10,000 (see financial summary below).
- A business with great potential which has not been exploited.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business.
- Very low overheads.
- Business enjoys superb local reputation.
- The concern provides traditional Indian cuisine with eat in facilities for 40 people, the concern also provides a takeaway. The premises also have a 3 bedroom flat above the restaurant.

History
Phoenix Business Transfer Agents are delighted to place onto the market a wonderfully situated Indian restaurant and take away, which has been established since 2006. The business has been in the hands of the current owner since 2006 and now wishes to sell due to a change in personal circumstance.

Services
The concern provides traditional Indian cuisine with eat in facilities for 40 people. The concern also provides takeaway.

Staffing
The concern employs 6 members of staff and the wages are £25,000 p.a.

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
As far as competition is concerned there is another similar business in the same shopping area.

Market
The client base consists of member of the general public.

Opportunities
The concern has great potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings and local advertising.
• Increasing the opening hours to include late evenings.
• Offering a delivery service
• 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 £67,000 with a net profit of £10,000. The wages are £25,000. The present value of the stock is £2000.
The potential turnover of the business within the next 2 years is forecast to reach £180,000 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:

Freehold

Living accommodation:

The upstairs of the property is in need of refurbishment. It consists of 3 bedrooms and a living area.

Location:

- Situated in the Alford area of Lincolnshire.
- Prominent location on main arterial road.
- Part of the small townships main shopping area.
- Excellent parking facilities nearby.
- Surrounded by densely populated residential area.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Complementary businesses all lie close by.

Premises details:

The property is terraced and part of a shopping precinct. The main serving area is well presented and allows dining facilities for 40 people in one sitting. The property has an external storage room and a kitchen and bar area.

Business Operation

Expansion potential:

The concern has great potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings and local advertising.
• Increasing the opening hours to include late evenings.
• Offering a delivery service
• Working more hands on hours and saving on wages.

Competition / Market:

As far as competition is concerned there is another similar business in the same shopping area.

Reasons for selling:

now wishes to sell due to a change in personal circumstance.

Trading hours:

Monday to Sunday: 12.00pm - 2.00pm and 4.30pm – 10.30pm

Employees:

The concern employs 6 members of staff and the wages are £25,000 p.a.

Years established:

5 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:

£35,000 (included in the asking price)

Inventory / Stock value:

£2,000