Massive Potential Freehold Town Centre Newsagent In Staffordshire For Sale

Business description

Business Details
The particular highlights of the business are:
- A well established business.
- Good loyal clientele.
- Turnover in excess of £200,000 with a net profit of £11,480 (see financial summary below).
- A business with great potential to increase profitability.
- An easily run operation.
- A good first time buyers business and ideal purchase for a family run business as there is excellent accommodation.
- Low rates.
- Very low overheads.
- Business enjoys superb local reputation.
- The concern provides newspapers, magazines, confectionary, snacks, tobacco, greetings cards, and up to 500 paper deliveries per week. The concern also sells handmade greeting cards produced on the premises and also supplies a range of products for customers wishing to produce their own handmade cards.

History
Phoenix Business Transfer Agents are delighted to place onto the market this Freehold Town Centre Newsagents with Massive Potential which has been established for over 40 years. The business has been in the hands of the current owner since 2004 and they now wish to sell due to returning to previous full time employment.

Services
This very good business opportunity provides newspapers, magazines, confectionary, snacks, tobacco, greetings cards, and up to 500 news paper delivery accounts per week. Fireworks & ice cream sold at seasonal times. The concern also sells handmade greeting cards produced on the premises and also supplies a range of products for customers wishing to produce their own handmade cards.

Staffing
The concern employs newspaper delivery staff members and is a family run business.

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 are other similar businesses within the town centre.

Market
The client base consists of local residents, office and retail workers with a high level of passing trade.

Opportunities
The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings including local and internet advertising.
• Increasing the opening hours to include evenings to exploit the massive potential of the off license trade.
• Increasing the product lines to include fresh and packaged groceries and alcoholic drinks.
• Becoming more efficient with staffing levels.
• 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.

Property Details
The property is terraced, part of a parade of shops and is approximately 1,000 sq ft. The front is branded with an attractive glass front. The main customer service area is carpeted with a middle aisle, 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 is an external toilet and staff facilities.

Above the Shop on the First and Second Floors
There is a very spacious 4 bedroom apartment over 2 floors, central heated with regular services.

First Floor
Kitchen, dining room, bedroom 1 with fitted cupboards and a lounge with a gas fire.

Second Floor
Toilet, bathroom, bath, sink and separate shower cubicle. Bedroom 2 has the original fireplace. Bedroom 3 with original fire place and fitted wardrobes. Bedroom 3 with original fire place and fitted wardrobes. The second floor all so has an Office with fitted desk and shelving.

Basement
There is a sizable basement below the shop providing ample additional storage space.

External
To the rear there is a small back yard with a brick built outer building originally housing a toilet and wood/coal store currently being utilized as a store room. There is also an alley way providing side access to this area.

Equipment with sale
All fixtures, fittings and equipment are included in the sale price and are valued at £3,000.

Financial Details
The present annual turnover is £221,344 with a gross profit of £55,806 and a net profit of £11,480. The present value of the stock is £15,000.
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 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:

Above the Shop on the First and Second Floors There is a very spacious 4 bedroom apartment over 2 floors, central heated with regular services. First Floor Kitchen, dining room, bedroom 1 with fitted cupboards and a lounge with a gas fire. Second Floor Toilet, bathroom, bath, sink and separate shower cubicle. Bedroom 2 has the original fireplace. Bedroom 3 with original fire place and fitted wardrobes. Bedroom 3 with original fire place and fitted wardrobes. The second floor all so has an Office with fitted desk and shelving.

Location:

- Situated in the market town of Leek in Staffordshire.
- Prominent location on main arterial road.
- Part of a parade of shops.
- 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.
- A commercially thriving area.
- Well linked with the A53, A520 and A523.
- Stoke-on-Trent, Macclesfield, Buxton and The Peak District all lie close by.
- Area enjoying much growth and re generation.
- A lifestyle area.
- Excellent local demographics for this type of area.

Premises details:

Property Details
The property is terraced, part of a parade of shops and is approximately 1,000 sq ft. The front is branded with an attractive glass front. The main customer service area is carpeted with a middle aisle, 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 is an external toilet and staff facilities.

Above the Shop on the First and Second Floors
There is a very spacious 4 bedroom apartment over 2 floors, central heated with regular services.

First Floor
Kitchen, dining room, bedroom 1 with fitted cupboards and a lounge with a gas fire.

Second Floor
Toilet, bathroom, bath, sink and separate shower cubicle. Bedroom 2 has the original fireplace. Bedroom 3 with original fire place and fitted wardrobes. Bedroom 3 with original fire place and fitted wardrobes. The second floor all so has an Office with fitted desk and shelving.

Basement
There is a sizable basement below the shop providing ample additional storage space.

External
To the rear there is a small back yard with a brick built outer building originally housing a toilet and wood/coal store currently being utilized as a store room. There is also an alley way providing side access to this area.

Size in square feet:

1,000 sq ft

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 including local and internet advertising.
• Increasing the opening hours to include evenings to exploit the massive potential of the off license trade.
• Increasing the product lines to include fresh and packaged groceries and alcoholic drinks.
• Becoming more efficient with staffing levels.
• With the introduction of a website and e-commerce.

Competition / Market:

As far as competition is concerned there are other similar businesses within the town centre.

Reasons for selling:

Owners wish to sell due to retirement.

Trading hours:

Monday to Saturday: 5.00 am – 5.00 pm.
Sunday: 5.30 am - 12.30 pm.

Employees:

The concern employs no staff and is a family run business.

Years established:

40 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:

£3,000 (included in the asking price)

Inventory / Stock value:

£15,000