Dudley Price Reduced Leasehold Freehold Newsagents Convenience Store For Sale

Business description

The particular highlights of the business are:
• The owner may be prepared to accept staggered payments for the business, enabling the buyer to pay from profits although a lump sum sale would be more favorably considered.
• 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 £150,000 with a net profit of £21,000. (See financial summary below). This is very impressive considering the credit crunch.
• A business with great potential which has not been exploited because the owner wishes to retire.
• An easily run operation.
• Good loyal well trained member of staff.
• A good first time buyers business.

Agents are delighted to place onto the market this well operated convenience store which has been established for over 50 years. The business has been in the hands of the current owner since 2007 and he now wishes to sell due to retirement.

This very good business opportunity provides, with convenience products and an off license. There is a news agency available but the owner chooses not to do this because of other business interests.

The concern employs one full time member of staff who is paid the minimum wage.

The owners’ role is purely managerial.

The owner does not market the business as it is well known locally.

As far as competition is concerned there is another local shop opposite.

The client base consists of local residents largely although there is some passing trade.

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
• Increasing the product line to include more varied items and paper rounds.
• Becoming more efficient with staffing levels
• Working more hands on hours and saving on wages.
• The concern has planning permission for a 2 bedroom flat above the shop and an extension to the shop itself.

The owner would be available for a business familiarisation period of one week 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 turnover for 2008 was £155,000 with a gross profit of 28% and a net profit of £21,000. The wages are £ 10,000 for this year. The present value of the stock is £20,000 and the fixtures fittings and equipment are worth £10,000.
In 2007, the turnover was £150,000. The potential turnover of the business within the next 2 years is forecast to reach over £200,000 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:

Freehold

Living accommodation:

Separately there is a three bed room house available which is over 2 floors. It had a kitchen, bathroom, a lounge with a separate dining room.

Location:

This superb business opportunity is situated in the town of Dudley near Birmingham. It forms part of a small parade of local shops and enjoys much traffic flow and there is a good foot flow of pedestrians. There is a densely populated residential area surrounding the property and it is within a commercially thriving part of the area. There is ample free parking.
The area is a popular estate which is a very working class area.
The location is well linked to Birmingham which is only 20 minutes away and there are Motorways close by both to the South and the North. The locale offers a good lifestyle opportunity.

Premises details:

The property is terraced and is on a corner plot. It had accommodation with the shop which is available freehold or leasehold. It has a branded shop front with electric shutters. It is fully alarmed with a panic room.
The retail area is approximately 20 ft x 30 ft with a large service counter, toilet and 3 fridges and a freezer.
Separately there is a three bed room house available which is over 2 floors. It had a kitchen, bathroom, a lounge with a separate dining room.

Equipment with sale
All fixtures and fittings and equipment are included in the sale price and are valued at £10,000

External
To the front there is off street parking. There is also a garden to the rear.

Business Operation

Expansion potential:

The business is available Freehold or with a flexible lease with a rental of £9,600 p.a. The rates are £470 pa.

Competition / Market:

As far as competition is concerned there is another local shop opposite.

Reasons for selling:

Sale due to retirement.

Trading hours:

The business operates from Monday to Thursday 10 am and 8pm. On Friday and Saturdays the shop opens until 9pm and on Sunday between 2 pm and 9pm.

Employees:

owner run with 1 f/t assistant

Years established:

over 50 years

Other information

Furniture / Fixtures value:

£10,000 (included in the asking price)

Inventory / Stock value:

£20,000

Leasehold asking price:

£29,950 (Furniture / Fixtures included)