Very Busy Newsagents And Sweetshop In Romford For Sale

Business description

The particular highlights of the business are:
- A well established business.
- Good loyal clientele.
- Fully equipped business with favorable lease terms (see below).
- Turnover in excess of £520,000 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 partnership or couple.
- Business enjoys superb local reputation
- The concern provides news papers, sweets, lotto pay point.

History
Agents are delighted to place onto the market this busy newsagent, which has been established since 2007. The business has been in the hands of the current owner since 2007and now wishes to sell to focus on other businesses.

Services
This very good business opportunity provides lotto, newspapers, sweets etc.

Staffing
The concern employs 3 part time 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 some 1/4 miles away.

Market
The client base consists of locals and passing.

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 later PM.
• Increasing the product line to include off license and more general goods.
• 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 £520,000 with a gross profit of 25%. The wages are £600pw. The present value of the stock is £15,000
There is also a rental income of £15,000 pa.
The potential turnover of the business within the next 2 years is forecast to reach £750,000 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 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:

Leasehold

Lease terms:

The original length of the lease was 15 years with 10 years remaining. The rent is £40,000 pa. The rates are £2000.

Leasehold rent:

£40000pa per annum

Location:

- Situated in Market area of Romford in Essex.
- Prominent location in the main Market area.
- Part of a parade of shops part of the main shopping centre.
- Excellent parking facilities.
- Industrial estates 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.
- Well linked with the central London by Train and road.
- Area enjoying much growth and re generation.
- A lifestyle area.
- Excellent local demographics for this type of area.

Premises details:

The property is terraced and is part of a parade of shops. The front is branded with an attractive glass front. There are electric shutters and a CCTV system. The main customer service area is tiled with a middle aisle and shelving and racking to the walls. It is very well presented and is very conveniently laid out.

To the rear is a store room. There are a toilet and staff facilities and a kitchen area.

EXTERNAL
To the rear is a parking area.

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 later PM.
• Increasing the product line to include off license and more general goods.
• Working more hands on hours and saving on wages.
• With the introduction of a website and e-commerce.
• With an enhanced website.

Competition / Market:

As far as competition is concerned there is another similar business some 1/4 miles away.

Reasons for selling:

wishes to sell to focus on other businesses.

Trading hours:

Monday to Friday 8.00am to 6.00pm
Saturday 8.00am to 6.00pm
Sunday 10.00am to 4.00pm

Employees:

The concern employs 3 part time staff.

Years established:

4 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:

£10,000 (included in the asking price)

Inventory / Stock value:

£15,000 (included in the asking price)

Home based:

This business can be run from home.