Toy And Cycle Shop In East London Reduced 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 £290,000 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.
- Low rent and rates.
- Very low overheads.
- A niche concern with very little competition.
- Business enjoys superb local reputation
- The concern provides toys and cycles and is a Raleigh Cyclelife Dealership, with a high volume of business in cycle repair and maintenance (the business is also a member or Cyclesheme.co.uk, Cycle Plus and Bike 2 Work).

History
Phoenix Business Transfer Agents are delighted to place onto the market this Long Established Leasehold Toys & Cycle Shop which has been established since 1934. The business has been in the hands of the current owner’s family since 1934 and he now wishes to sell due to a change of career.

Services
This very good business opportunity provides toys and cycles and is a Raleigh Cyclelife Dealership, with a high volume of business in the area of cycle repairs and maintenance (the business is also a member or Cyclesheme.co.uk, Cycle Plus and Bike 2 Work).

Staffing
The concern employs 2 full-time and 1 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 and has a website.

Competition
There is no local competition.

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.
• Becoming more efficient with staffing levels.
• Increasing the open hours to include Sunday trading.
• With an enhanced 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. The owner would also be happy for an on the job observation period to assess the business prior to offers being made.

Financial Details
The present annual turnover is £300,000 with a gross profit of 41%.
The potential turnover of the business within the next 2 years is forecast to reach £360,000 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:

Leasehold

Lease terms:

The new lease being offered is of 15 years with 15 years remaining. The rent is £33,000 pa. The lease may be renewable or negotiable for a longer term if required. The rates are £9,478.

Leasehold rent:

£33,000 per annum

Location:

- Situated in the Leyton area in East London.
- Prominent location on main arterial road.
- Part of a parade of shops.
- Excellent parking facilities nearby.
- Industrial estates nearby.
- Surrounded by a 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 A104, A112 and A12.
- Stratford, Walthamstow, Wanstead and Aldersbrook all lie close by.
- Area enjoying much growth and regeneration.
- Close to the 2012 Olympic venues.
- Excellent local demographics for this type of area.

Premises details:

The property is terraced, part of a parade of shops and is approximately 1,500 sq ft. The front is branded with an attractive glass front. There are electric shutters. The main customer service areas have wooden and cemented flooring with shelving to the walls. It is very well presented and is very conveniently laid out.

To the rear is a store room. a toilet, staff facilities and a fully fitted kitchen.

Size in square feet:

approximately 1,500 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 and local and internet advertising.
• Becoming more efficient with staffing levels.
• Increasing the open hours to include Sunday trading.
• With an enhanced website and e-commerce.

Competition / Market:

There is no local competition.

Reasons for selling:

he now wishes to sell due to a change of career

Trading hours:

Monday to Saturday: 9.15am – 5.30pm
Sunday: Closed

Employees:

The concern employs 2 full-time and 1 part-time staff.

Years established:

established since 1934

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:

£30,000 (included in the asking price)