Superbly Presented Restaurant & Takeaway In Central Luton 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 £100,000 pa (see financial summary below).
- A business with great potential.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business and ideal purchase for a husband and wife team or business partnership
- Low rent and rates.
- Very low overheads.
- Business enjoys superb local reputation
- The concern provides good quality fried chicken, burgers and chips to eat in or takeaway.

History
Agents are delighted to place onto the market this Leasehold Restaurant Takeaway which has been established since 2010. The business has been in the hands of the current owner since 2010 and he now wishes to sell due to other business interests.

Services
This very good business opportunity provides good quality fried chicken, burgers and chips to eat in or takeaway.

Staffing
The concern employs 1 part-time member of staff. The wages are £6.00 ph.

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 are other similar businesses within this busy town centre 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 product line to include pizza and kebabs.
• Becoming more efficient with staffing levels.
• 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 400 sq ft. The front is branded with an attractive glass front. There are electric shutters. The main customer service area is tiled.. It is very well presented and is very conveniently laid out.

The restaurant has 28 covers. The customer service point is to the rear. There is an overhead menu. There are customer toilets.

To the rear is a store room. There is a toilet, staff facilities and a fully fitted kitchen.

First Floor
On the first floor there is a 3 bedroom apartment generating an income of £9,720 pa.

Equipment with Sale
All fixtures, fittings and equipment are included in the sale price and are valued at £40,000.

Financial Details
The present annual turnover is £104,000with a gross profit of 50%. The wages are £6.00 ph.
The potential turnover of the business within the next 2 years is forecast to reach £208,000 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. We 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 9 years with 7 1/2 years remaining. The rent is £16,500 pa with a review in 2012. The lease may be renewable or negotiable for longer term if required. The rates are currently under review.

Leasehold rent:

£125,000 per annum

Living accommodation:

On the first floor there is a 3 bedroom apartment generating an income of £9,720 pa

Location:

- Situated in the Town Centre area of Luton in Bedfordshire.
- Prominent location on main arterial road.
- Part of a parade of shops.
- Excellent 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 A505, A6 and M1.
- Dunstable, Leighton Buzzard and Stevenage 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 400 sq ft. The front is branded with an attractive glass front. There are electric shutters. The main customer service area is tiled.. It is very well presented and is very conveniently laid out.

The restaurant has 28 covers. The customer service point is to the rear. There is an overhead menu. There are customer toilets.

To the rear is a store room. There is a toilet, staff facilities and a fully fitted kitchen.

Size in square feet:

400 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 and local and internet advertising.
• Increasing the product line to include pizza and kebabs.
• Becoming more efficient with staffing levels.
• With the introduction of a website and e-commerce.

Competition / Market:

As far as competition is concerned there are other similar businesses within this busy town centre area.

Reasons for selling:

other business interests

Trading hours:

Monday to Sunday: 11am – 11pm

Employees:

The concern employs 1 part-time member of staff. The wages are £6.00 ph

Years established:

since 2010

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:

£40,000 (included in the asking price)