Leasehold Chinese Restaurant In Swindon Wiltshire For Sale

Business description

The particular highlights of the business are:
• Ideally located concern offering excellent lifestyle.
• A well established business, operating since 1968.
• Good loyal clientele and established client base.
• Fully equipped business with favorable lease terms (see below).
• Turnover in excess of £4,000 per week with a net profit of £1,500 per week. (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 has had personal problems.
• An easily run operation.
• Good loyal well trained staff.

Phoenix Business Transfer Agents are delighted to place onto the market this very successful Chinese Restaurant which has been established since 1968. The business has been in the hands of the current owner since 1981and she now wishes to sell due to family commitments.

This very good business opportunity provides high quality Chinese and English Food to eat in and take away.

The concern employs one full time member of staff who can work front of house or in the kitchen. He is paid £220 per week. In addition there are 4 part time waiting staff that are all paid the minimum wage. They will stay with the business.

The Owner works full time with a very hands on role both in the kitchen and front of house.

The owner markets the business in the Yellow Pages and Thomson directory as well as in local press and is on the local Swindon website.

As far as competition is concerned there are other Chinese Restaurants in the area, but this one is the longest established.

The client base consists of locals and regular customers, 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.
• With the introduction of a website.

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 is £4,000 per week with a gross profit of 80% and a net profit of £1,500 per week. The wages are £1,000 per week. The present value of the stock is £3,000 and the fixtures fittings and equipment are worth £40,000.
The potential turnover of the business within the next 2 years is forecast to reach £7-8,000 per week 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.

Property information

Property:

Leasehold

Lease terms:

The original length of the lease was 15 years with 7 years remaining. The rent is £10,500 pa. The rates are £4,600pa.

Leasehold rent:

£10,500 per annum

Location:

This superb business opportunity is situated in Swindon, in Wiltshire. The location is within the Old Town, which is known as the Chelsea of Swindon. It is on a main arterial road and enjoys much traffic flow and there is a good foot flow of pedestrians. There is a residential area surrounding the property and it is within a commercially thriving part of the area. There is ample free parking nearby. It is a very affluent area and is a renowned Food District. It is approximately 1.5 miles from the town centre itself
The area attracts many shoppers who use the area on a daily basis and there are many local facilities including banks and many other retailers. There are also busy industrial estates nearby.
Swindon is well linked with the M4 and the A420 and the railway station in the town centre. .

Premises details:

Property Details
The property is terraced and is part of a parade of shops and is approximately 25 ft x 40 ft. The front is branded with an attractive glass front. The main customer service area is carpeted with spotlights. It is very well presented and is very conveniently laid out.

The restaurant has 60 covers. The bar is towards the rear of the restaurant.

To the rear is a store room. There are a toilet and staff facilities and a fully equipped kitchen.
Equipment with sale
All fixtures and fittings and equipment are included in the sale price and are valued at £30,000.
First Floor
On the first floor there is a 40 cover restaurant with a private bar.
External
To the front there is a main arterial road with off road parking.

Business Operation

Competition / Market:

As far as competition is concerned there are other Chinese Restaurants in the area, but this one is the longest established.

Reasons for selling:

sale due to family commitments.

Trading hours:

The business operates from Monday to Saturday between noon and 2pm and 5.30pm to 11pm. On Sundays the opening hours are noon until 11pm.

Employees:

owner run with one full time & 4 part time waiting staff

Years established:

41 years

Other information

Support & training:

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.

Furniture / Fixtures value:

£3,000 (included in the asking price)

Inventory / Stock value:

£3,000