Thriving Italian Restaurant In Sea Front Location 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 £260,000 pa with a net profit which is undisclosed (see financial summary below).
- A business with great potential which has not been exploited because the owners are moving aboard.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business and ideal purchase for partnership or couple.
- Low rent and rates.
- Very low overheads.
- A niche concern with very little competition.
- Business enjoys superb local reputation.
- The concern provides Italian Cuisine.

History
We are delighted to place onto the market this thriving restaurant which has been established since 1980. The business has been in the hands of the current owner since 2010 and now wishes to sell due to moving abroad.

Services
This very good business opportunity provides Italian Cuisine.

Staffing
The concern employs 4. The wages are £4800pm.

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
There is no local competition.

Market
The client base consists of locals and tourist.

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 lunchtimes.
• Increasing the product line to include delivery service.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With the introduction of a website and e-commerce.
• 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 £260,000 with a gross profit of £192,000 and a net profit undisclosed. The wages are £4800 pm. The present value of the stock is £14,000.
The potential turnover of the business within the next 2 years is forecast to reach £350,000 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 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 20 years with 19years remaining. The rent is £40,000pa. The rates are £16,000.

Leasehold rent:

£40,000 per annum

Location:

- Situated in the sea front area of West Cliff-on-Sea in Essex.
- Prominent location on main arterial road.
- Part of a parade of shops.
- Excellent free parking facilities nearby.
- Industrial estates nearby.
- Surrounded by 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 all the local amenities.
- South End and the Sea Front all lie close by.
- Area enjoying much growth and regeneration.
- A lifestyle area.
- Excellent local demographics for this type of area.
- Affluent area.

Premises details:

The property is terraced, part of a parade of shops. The front is branded with an attractive glass front. The main customer service area is wooden. It is very well presented and is very conveniently laid out.
The restaurant has 80 covers. The customer service point and bar is to the front. There are customer toilets.

To the rear are 2 store rooms. There is a toilet, staff facilities and a fully fitted kitchen.

External
To the rear is entrance.

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 lunchtimes.
• Increasing the product line to include delivery service.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With the introduction of a website and e-commerce.
• With an enhanced website.

Competition / Market:

There is no local competition.

Reasons for selling:

now wishes to sell due to moving abroad.

Trading hours:

Monday to Sunday 5.00pm - 11.00pm
Saturday 12pm – 3.00pm
Sunday 12pm - 3.00pm

Employees:

The concern employs 4. The wages are £4800pm.

Years established:

31years

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:

£42,000 (included in the asking price)

Inventory / Stock value:

£14,000