Thriving Tea Rooms With Gift Shop And Accommodation For Sale

Business description

The particular highlights of the business are:
- A well established business.
- Good loyal clientele and tourists.
- Fully equipped business with a gift shop and tea rooms.
- Turnover in excess of £58,000 with high a net profit (See financial summary below).
- A business with great potential.
- An easily run operation.
- A good first time buyers business and ideal purchase for couple.
- Very low overheads.
- A niche concern with the gift shop very little competition.
- Business enjoys superb local reputation.
- The concern provides Creams Teas/Meals/and a Gift shop which sells the finest Lace products.

History
Agents are delighted to place onto the market this thriving business which has been established for over 30 years. The business has been in the hands of the current owner for 11 years and now wishes to sell due to retirement.

Services
This very good business opportunity provides Teas and Gifts in a stunning, freehold detached thatched Cottage.

Staffing
The concern employs no 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 nearby as the area is a tourist haven.

Market
The client base consists of local passing and tourists.

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 early morning and later evenings.
• Increasing the product line to include alcohol.
• With the introduction of a website and e-commerce for the gift shop.
• With an enhanced website.
• To include Sunday lunch and evening meals/special events etc.
• To pay more attention to the history of the building which is 16 century and has a very interesting pass.

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 £48,000 with a gross profit of 70%. The present value of the stock is £8,000.
The potential turnover of the business within the next 2 years is forecast to reach £100,000pa 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:

Freehold

Living accommodation:

On the first floor there are two bedrooms. One is very large and the other is a small double. There is a bathroom and toilet, a large living room and separate dining room. The kitchen is to the rear with access to the side lane and garden. All rooms have exposed beams and all the windows have replaced. The property was re thatched about 5 years ago. It is a listed Grade 2 and has a very interesting pass. The current owner has looked into the history of the building and has details going back to the 16th century. The living accommodation has been refurbished over the last 2 years to a high standard and can be separated from the tea rooms and gift shop. There is a large basement that is unused under the front of the building. To the rear there is a large garage and a garden.

Location:

- Situated in the Godshill area of the Isle of Wight.
- Prominent location just off the main arterial road.
- Excellent parking facilities nearby.
- 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.
- Commercially thriving area with many tourist attractions nearby.
- Well linked with the all the Island by bus and road.
- Many tourist attractions lie close by.
- A lifestyle area.
- Excellent local demographics for this type of area.
- The property has history going back to the 16th century.

Premises details:

The property detached Thatched Cottage with a garage and garden to the rear. The front is branded with an attractive glass front. There is a CCTV system. The main customer service area is carpeted with a middle aisle and it is very well presented and is very conveniently laid out.

The restaurant has over 30 covers and room for 4 outside. The customer service point is to the rear. There are customer toilets.
The Gift shop is to the front of the building and can be separated from the tea rooms.

To the rear there is a store room and a fully equipped kitchen.

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 early morning and later evenings.
• Increasing the product line to include alcohol.
• With the introduction of a website and e-commerce for the gift shop.
• With an enhanced website.
• To include Sunday lunch and evening meals/special events etc.
• To pay more attention to the history of the building which is 16 century and has a very interesting pass.

Competition / Market:

As far as competition is concerned there is another similar business nearby as the area is a tourist haven.

Reasons for selling:

wishes to sell due to retirement.

Trading hours:

Monday to Sunday 10.00am – 5.00pm in the summer.
Monday to Saturday 10.00am – 5.00pm in the winter.

Employees:

0

Years established:

30years

Other information

Furniture / Fixtures value:

£20,000 (included in the asking price)

Inventory / Stock value:

£8,000