Superbly Presented Leasehold Indian Restaurant In Coventry For Sale

Business description

The particular highlights of the business are:
- A well established business.
- Good loyal clientele.
- Fully equipped business with favourable lease terms (see below).
- Turnover in excess of £200,000 pa with a net profit of £36,000 (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.
- Business enjoys superb local reputation
- The concern provides Indian Cuisine including a delivery and takeaway service.

History
Agents are delighted to place onto the market this Superbly Presented Leasehold Indian Restaurant in Coventry which has been established since 2009. The business has been in the hands of the current owner since 2009 and they now wish to sell due to other business interests.

Services
This very good business opportunity provides Indian Cuisine including a delivery and takeaway service.

Staffing
The concern employs 5 full-time and 5 part-time staff. The wages are £6.93ph for full-time and £5.93ph for part-time.

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

Marketing
The owner markets the business via a dedicated website.

Competition
As far as competition is concerned there are other similar businesses within the area.

Market
The client base consists of mainly local residents with high levels of passing, takeaway and delivery trade within a wide catchment area.

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 opening hours to include lunch time trading. The business is licensed to be open until 4am.
• Increasing the marketing activity to promote special occasions and events including outside catering.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With an enhanced website.

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 £218,000 with a gross profit of 75% and a net profit of £36,000. The present value of the stock is £5,000.
The potential turnover of the business within the next 2 years is forecast to reach £436,000 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 we 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 us 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 15 years with 13years remaining. The rent is £26,000 pa with a review in 2012. The lease may be renewable or negotiable for longer term if required. The rates are £800 pa.

Leasehold rent:

£26000pa per annum

Living accommodation:

On the first floor there is a 3 bedroom flat which currently generates up to £8,400 pa in additional revenue.

Location:

- Situated in Far Gosford Street in the Gosford Green area of Coventry.
- Prominent location on main arterial road.
- Part of a parade of shops.
- Excellent free parking facilities nearby.
- Industrial estates nearby.
- Surrounded by a densely populated residential area with schools and other local amenities.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Commercially thriving area.
- Well linked with the A428, A4053, A444, A4600, A4114, M6 and M69.
- Coventry City Centre, Rugby, Nuneaton and Warwick all lie close by.
- Area enjoying much growth and regeneration.
- Excellent local demographics for this type of area.

Premises details:

The property is terraced, part of a parade of shops and is approximately 1,000 sq ft. The front is branded with an attractive glass front. The main customer service area is tiled. It is superbly presented and is very conveniently laid out.

The restaurant has 70 to 85 covers. The customer service point is to the left. There are customer toilets.

Size in square feet:

1000sq 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 and internet advertising.
• Increasing the opening hours to include lunch time trading. The business is licensed to be open until 4am.
• Increasing the marketing activity to promote special occasions and events including outside catering.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With an enhanced website.

Competition / Market:

As far as competition is concerned there are other similar businesses within the area.

Reasons for selling:

they now wish to sell due to other business interests.

Trading hours:

Monday to Sunday: 5.00pm –12.00am

Employees:

The concern employs 5 full-time and 5 part-time staff. The wages are £6.93ph for full-time and £5.93ph for part-time.

Years established:

2 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:

£19,000 (included in the asking price)

Inventory / Stock value:

£5,000