Highly Successful Pub In Corfe Mullen Dorset 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 £350,000 pa (see financial summary below).
- A business with great potential for continued development.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business and ideal purchase for a husband and wife team
- Low rent and rates.
- Very low overheads.
- A niche concern with very little competition.
- Business enjoys superb local reputation
- The concern provides two bars with a fine range of cask ales and continental lagers, a fine restaurant which caters for lunchtime and evening trade and has an excellent reputation for good honest and traditional pub fayre

History
Phoenix Business Transfer Agents are delighted to place onto the market Highly Successful Pub which has been established since 1963. The business has been in the hands of the current owner since 2004 and he now wishes to sell due to retirement.

Services
This very good business opportunity provides two bars with a fine range of cask ales and continental lagers, a fine restaurant which caters for lunchtime and evening trade and has an excellent reputation for good honest and traditional pub fayre.

Staffing
The concern employs 14 part time staff. The wages are £36,970.

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 very good website.

Competition
There is no local competition.

Market
The client base is of local residents from this very affluent area with high volumes of passing trade and private events.

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.
• Developing the Events side of the business for the private and commercial sectors
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With an enhanced website.

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 information

Property:

Leasehold

Lease terms:

The pub is under a tenancy agreement which is reviewed on a 3 yearly basis and a new agreement will be issued to new owners. The rent is £38,220 pa. The agreement may be negotiable for a longer term if required. The rates are £15,800.

Leasehold rent:

£38,220 per annum

Living accommodation:

On the first floor there is a 3 bedroom self contained flat with living/dining room, bathroom and kitchenette. External

Location:

- Situated in the heart of Corfe Mullen in Dorset.
- Prominent location on main arterial road.
- Excellent free parking facilities.
- 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 A31 and A350.
- Bournemouth, Poole, Christchurch and Wareham all lie close by.
- Area enjoying much growth and regeneration.
- A lifestyle area.
- Excellent local demographics for this type of area.
- Very affluent area

Premises details:

The property is detached sitting in large grounds with ample customer car parking and is extremely well presented and conveniently laid out.

The restaurant has 44 covers with another 76 covers divided between the front and rear gardens.

To the rear is a store room, customer toilet, staff facilities and a fully fitted 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.
• Developing the Events side of the business for the private and commercial sectors
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With an enhanced website.

Competition / Market:

There is no local competition

Reasons for selling:

Retirement

Trading hours:

Lunchtime: Mon - Sat 12 - 2:30pm
Evening Tue - Sat 6 - 9pm
Sun 12 - 7:30pm

Employees:

The concern employs 14 part time staff. The wages are £36,970

Years established:

49 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:

£40,000 (included in the asking price)

Inventory / Stock value:

£4,500