Leasehold Italian Restaurant In Poole With Accommodation 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 £50,000 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 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 Italian Cuisine.

History
Phoenix Business Transfer Agents are delighted to place onto the market this Italian Restaurant which has been established since 1996. The business has been in the hands of the current owner since 2011 and he now wishes to sell due to the breakdown of his relationship with his wife and business partner.

Services
This very good business opportunity provides Italian Cuisine.

Staffing
The concern employs 2 part time staff.

Owners Role
The owner is involved in the day to day running of the business.

Marketing
The owner markets the business with leaflet drops to local residential areas and via Groupon and Magicard.
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Competition
As far as competition is concerned there are 3 other similar businesses in the area.

Market
The client base is mainly from the local and highly populated residential area.

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.
• Increasing the opening hours to include Sunday trading.
• Becoming more efficient with staffing levels.
• Working with a business partner and saving on wages.
• 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. 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 original length of the lease was 15 years with 5 years remaining. The rent is £10,000 pa with a review in 2013. The lease may be renewable or negotiable for longer term if required. The rates are £1,500

Leasehold rent:

£10,000 per annum

Living accommodation:

On the first floor there is a self contained 2 bedroom flat

Location:

- Situated in the Parkstone area of Poole in Dorset.
- 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 A35, A31, A3049 and A338.
- Poole town center, Bournemouth and Christchurch all lie close by.
- Area enjoying much growth and regeneration.
- A lifestyle area.
- Excellent local demographics for this type of area.
- Affluent area.

Premises details:

The property is terraced, part of a parade of shops and is approximately 900 sq ft. The front is branded with an attractive glass front. The main customer service area is tiled with a middle aisle and shelving to the walls. It is very well presented and is very conveniently laid out.

The restaurant has 40 covers. The customer service point is to the rear. There are customer toilets.

To the rear is a store room. There is a 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.
• Increasing the opening hours to include Sunday trading.
• Becoming more efficient with staffing levels.
• Working with a business partner and saving on wages.
• With the introduction of a website and e-commerce

Competition / Market:

As far as competition is concerned there are 3 other similar businesses in the area

Reasons for selling:

Family Reasons

Trading hours:

Monday to Saturday: 12.00pm – 2.30pm then 6.00pm – 10.30pm
Sunday: Closed

Employees:

The concern employs 2 part time staff.

Years established:

16 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:

£5,000 (included in the asking price)

Inventory / Stock value:

£2,000