Off Licence & Grocery Store In Ilford For Sale

Business description

The particular highlights of the business are:
- 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 pa with a net profit of £16,421. (See financial summary below). This is very impressive considering the credit crunch.
- A business with great potential which has not been exploited because owner has other business interests. .
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business.
- This business opportunity provides alcohol, cigarettes, confectioners, groceries, phone and oyster cards.

History
Agents are delighted to place onto the market this leasehold off license and grocery store which has been established since pre war. The business has been in the hands of the current owner since 1998 and he now wishes to sell due to other business interests.

Services
This very good business opportunity provides alcohol, cigarettes, confectioners, groceries, phone and oyster cards

Staffing
The concern employs 3 part time staff. They are paid at the rate of £6.50 per hour. The total wage bill is £30,000.00. All staff would stay on after a sale.

Owners Role
The owners’ role is managing and working in the concern and he works when required.

Marketing
The owner does not market the business and does not have a website.


Competition
As far as competition is concerned there is one nearby

Market
The client base consists of local, business people and passing trade.

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.
• Working more hands on hours 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 20 years with 8 years remaining. The rent is £6,500.00 pa with a review in 3 yrs. The lease may be renewable or negotiable for longer term if required. The rates are £300.00.

Leasehold rent:

£6500pa per annum

Location:

- Situated in Ilford area of Essex.
- Prominent location on main arterial road.
- Part of a parade of shops.
- Industrial estates nearby.
- Area earmarked for regeneration.
- Surrounded by densely populated residential area with schools and other local amenities.
- Local population consists of local and business persons.
- Area offers exceptional lifestyle.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Commercially thriving area.
- Well linked with A2, A102, A12 and good railway links.

Premises details:

The property is terraced and is part of a parade of shops and is approximately 600 sqft. The front is branded with an attractive glass front. There are manual shutters and a CCTV system. The main customer service area has laminated flooring with a middle aisle and shelving and racking to the walls. It is very well presented and is very conveniently laid out.

To the rear is a store room, toilet, staff facilities and a small 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.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With the introduction of a website and e-commerce

Competition / Market:

As far as competition is concerned there is one nearby

Reasons for selling:

other business interests.

Trading hours:

Monday to Saturday – 09.00am – 11.00pm

Employees:

The concern employs 3 part time staff. They are paid at the rate of £6.50 per hour. The total wage bill is £30,000.00. All staff would stay on after a sale.

Years established:

14

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)

Inventory / Stock value:

£40,000