Thriving Freehold Cafe In Paignton Price Reduced For Sale

Business description

The particular highlights of the business are:
- Ideally located concern offering excellent lifestyle.
- A well established business.
- Good loyal clientele.
- Fully equipped business with favorable lease terms (see below).
- Turnover in excess of £65,000 pa with a net profit of £24,000. (See financial summary below).
- A business with great potential which has not been exploited because the current opening hours are extremely limited and therefore offer a great deal of potential for future growth.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business.
- The concern provides a traditional English menu.

History
Agents are delighted to place onto the market this exceptional thriving Freehold Café in Paignton which has been established since 1981. The business has been in the hands of the current owners since 2003 but they now wish to sell due to retirement.

Services
This very good business opportunity provides a very easily run café offering a traditional English menu.

Staffing
The concern employs two part-time staff who are paid at the rate of £6.25 per hour.

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

Marketing
The owner relies on their reputation and word of mouth. They do not market the business in any other way.

Competition
There is no immediate competition in the area.

Market
The client base consists of regular local trade and tourists in season.

Opportunities
The concern has huge potential. In particular the turnover and profits can be increased by:
• Introducing marketing activity.
• Dramatically increasing the opening hours to include afternoons and evenings.
• Increasing the product line to include more homemade produce.
• 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.


The present turnover is £65,000 pa with a gross profit of £48,000 and a net profit of £24,000. The wages are £5,000. The present value of the stock is £1,000.
The potential turnover of the business within the next 2 years is forecast to reach £100,000 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. 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:

Freehold

Living accommodation:

First Floor On the first floor there is a delightful double bedroom, lounge, kitchen and bathroom. Second Floor On the second floor there is a further very large double bedroom.

Location:

- Situated in busy area of Paignton very close to sea front.
- Good parking facilities nearby.
- Surrounded by densely populated residential area with schools and other local amenities.
- Local population consists of locals, tourists and students.
- Area offers exceptional lifestyle in a highly sought after area.
- Outstanding tourist trade.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Commercially thriving area.
- Well linked by the main road between Torquay and Paignton.

Premises details:

The property is semi-detached and is opposite a parade of shops and is approximately 50ft x 50 ft. The front is branded with an attractive glass front. The main customer service area is tiled.
The café has 35 covers. The customer service point is to the rear with an overhead menu. There are customer toilets.

To the rear is a store room, which houses the freezers, There is a toilet, staff facilities and a fully equipped kitchen.


External
To the front there is easy parking with a paved area in front of the café. At the rear of the cafe there is Private Parking for the owners

Size in square feet:

50ft x 50ft

Business Operation

Expansion potential:

The concern has huge potential. In particular the turnover and profits can be increased by:
• Introducing marketing activity.
• Dramatically increasing the opening hours to include afternoons and evenings.
• Increasing the product line to include more homemade produce.
• With the introduction of a website and e-commerce.

Competition / Market:

There is no immediate competition in the area.

Reasons for selling:

they now wish to sell due to retirement.

Trading hours:

Tuesday to Saturday: 8.00am to 1.30pm
Sunday: 10.00am to 2.00pm

Employees:

The concern employs two part-time staff who are paid at the rate of £6.25 per hour.

Years established:

15 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:

£15,000 (included in the asking price)

Inventory / Stock value:

£1,000