Sandwich Bar In Margate For Sale

Business description

Business Details
The particular highlights of the business are:
- Good loyal clientele.
- Fully equipped business with favorable lease terms (see below).
- Turnover in excess of £50,000 with a gross profit of 68% (see financial summary below).
- A business with great potential which has not been exploited because of family commitments.
- An easily run operation.
- A good first time buyers business and ideal purchase for couple.
- Low rent and rates.
- Very low overheads.
- Business enjoys superb local reputation and provides a delivery service to local shops and offices.
- The concern provides fresh food at good prices.

History
Phoenix Business Transfer Agents are delighted to place onto the market this Sandwich Bar which has been established since 2005. The business has been in the hands of the current owner since 2007 and now wishes to sell due to family commitments.

Staffing
The concern employs 2 part time 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
As far as competition is concerned there is another similar business near by.

Market
The client base consists of local and passing trade. Margate is a tourist haven and this sandwich bar is close to the beach and main line station.


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 advertising with leaflet drops.
• Increasing the opening hours to include later afternoons and Sundays.
• Increasing the product line to include alcohol.
• Increasing outside catering market.
• Increasing the current delivery service.
• Becoming more efficient with staffing levels.

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 15 ft x 30 ft. The front is branded with an attractive front. The main customer service area is carpeted with shelving and racking to the walls behind service area. It is very well presented and is very conveniently laid out.

The café has 12 covers. The customer service point is to the side. There is an overhead menu. There are customer toilets.
There is a basement that is used for storage.

EXTERNAL
To the front, there is a room to put additional seating.

EQUIPMENT WITH SALE
All fixtures, fittings and equipment are included in the sale price and are valued at £3,000.

FINANCIAL DETAILS
The present annual turnover is £55,000 with a gross profit of 68%. The wages are £300. The present value of the stock is £1,000.
The potential turnover of the business within the next 2 years is forecast to reach £76,000 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 4 years remaining. The rent is £5,196 pa. The lease may be renewable or negotiable for longer term if required. The rates are £1,500.

Leasehold rent:

£5,196 pa per annum

Location:

- Situated in Margate area of Kent.
- Prominent location on a main arterial road close to the main line station which has direct links to London.
- Part of a parade of shops with excellent parking facilities.
- 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.
- Margate main shopping and beach both lie close by.
- Area enjoying much growth and re-generation.
- A lifestyle area.

Premises details:

The property is terraced, part of a parade of shops and is approximately 15 ft x 30 ft. The front is branded with an attractive front. The main customer service area is carpeted with shelving and racking to the walls behind service area. It is very well presented and is very conveniently laid out.

The café has 12 covers. The customer service point is to the side. There is an overhead menu. There are customer toilets.
There is a basement that is used for storage.

EXTERNAL
To the front, there is a room to put additional seating.

Size in square feet:

15 ft x 30 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 advertising with leaflet drops.
• Increasing the opening hours to include later afternoons and Sundays.
• Increasing the product line to include alcohol.
• Increasing outside catering market.
• Increasing the current delivery service.
• Becoming more efficient with staffing levels.

Competition / Market:

As far as competition is concerned there is another similar business near by.

Reasons for selling:

Owner wishes to sell due to family commitments.

Trading hours:

Monday to Saturday: 7.30 am - 3.00 pm.

Employees:

The concern employs 2 part time staff.

Years established:

6 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:

£3,000 (included in the asking price)

Inventory / Stock value:

£1,000