Walton Essex Thriving Cafe For Sale

Business description

Business Details
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 £74,000 with a net profit of £30,000 (see financial summary below).
- A business with great potential which has not been exploited because the owners are ready to retire.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business.
- Very large premises with huge scope.

History
Agents are delighted to place onto the market this very spacious and successful cafe which has been established since 1980. The business has been in the hands of the current owners since 2006 and they now wish to sell due to retirement.

Services
This very good business opportunity provides home made dinners including roasts and breakfasts, with an array of other products including sandwiches and jacket potatoes, burgers and children’s meals.

Staffing
The concern employs 1 part time member of staff and up to 5 during peak summer trade.

Owners Role
The owners are a husband and wife team and they work full time.

Marketing
The owners do no marketing for the business and the business has grown through word of mouth.

Competition
As far as competition is concerned there are other cafes in the area but this one has the best local reputation.

Market
The client base consists of tourists and locals.

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 afternoons and evenings.
• Contacting visiting coaching companies.
• Opening early mornings.
• Re- introduce alcohol license for evening trading.
• Introduce outside catering.

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 and is part of a parade of shops and is approximately 50 ft x 30 ft. The front is branded with an attractive glass front. There are in total over 52 covers with attractive industrial wood effect lino flooring. The premise is spacious and very well presented.

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 are a toilet and staff facilities and a fully equipped kitchen.

First Floor
On the first floor there is living accommodation available at a separate rental.

Equipment with sale
All fixtures and fittings and equipment are included in the sale price and are valued at £25,000.

Financial Details
The present turnover is £74,000 per annum with a gross profit of 66% and a net profit of £30,000. The wages are £15,000. The present value of the stock is £500.
The potential turnover of the business within the next 2 years is forecast to reach £150,000 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 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. Broker will not be held liable for any inaccuracies in these figures or any other statements contained in relation to this business.

Property information

Property:

Leasehold

Lease terms:

The original length of the lease was 12 years with 9 years remaining. The rent is £9,259 pa. The lease may be renewable or negotiable for longer term if required. The rates and water is £1,900 pa.

Leasehold rent:

£9,259 pa per annum

Living accommodation:

On the first floor there is living accommodation available at a separate rental.

Location:

- Situated in town centre area of Walton on the Naze in Essex.
- Prominent location on main arterial road close to Tesco.
- Part of a parade of shops.
- Excellent parking facilities nearby.
- Area earmarked for regeneration.
- Surrounded by well populated residential area with schools and other local amenities.
- Local population consists of tourists and locals.
- Area offers exceptional lifestyle.
- Outstanding tourist trade with lots of mobile home sites.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Commercially thriving area.
- A thriving tourist and holiday destination.

Premises details:

The property is terraced and is part of a parade of shops and is approximately 50 ft x 30 ft. The front is branded with an attractive glass front. There are in total over 52 covers with attractive industrial wood effect lino flooring. The premise is spacious and very well presented.

The customer service point is to the rear and there are customer toilets.

To the rear is a store room. There are a toilet and staff facilities 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 afternoons and evenings.
• Contacting visiting coaching companies.
• Opening early mornings.
• Re- introduce alcohol license for evening trading.
• Introduce outside catering.

Competition / Market:

As far as competition is concerned there are other cafes in the area but this one has the best local reputation.

Reasons for selling:

Owner wishes to sell due to retirement.

Trading hours:

The concern employs 1 part time member of staff and up to 5 during peak summer trade.

Employees:

1 part time

Years established:

30 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:

£25,000 (included in the asking price)