Price Reduced Leasehold London Fusion Cafe 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 £67,000 with a net profit of £11,830. (See financial summary below). This is very impressive considering the credit crunch.
- A business with great potential which has not been exploited.
- An easily run operation.
- A superb first time buyers business.

History
Phoenix Business Transfer Agents are delighted to place onto the market this leasehold fusion café opportunity which has been established since 1990. The business has been in the hands of the current owner since 1999 and he now wishes to sell urgently due to family moving abroad.

Services
This very good business opportunity provides a quality English style café service with freshly baked in-house patisseries and a fusion of home cooked Indian food.

Staffing
The concern employs only family members and one non family part time staff. All staff would stay on after a sale.

Owners Role
The owners’ role is hands on and he works six days per week.

Marketing
The owner markets the business via leaflet drops to local residential areas once every six months and doesn’t have a website.

Competition
As far as competition is concerned this is the only café in the immediate area.

Market
The client base consists of mainly local residents with some 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 especially targeted towards hiring the location for events and parties.
• Increasing the opening hours to include evenings.
• Increasing the product line to include a wider choice of cakes and deserts.
• Becoming more efficient with staffing levels.
• Offer free Wi Fi services.
• 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 Details
The property is terraced and is part of a parade of shops and is approximately 500 sq ft. The front is branded with an attractive glass front. There are manual shutters. The main customer service area has a vinyl floor. It is very well presented and is very conveniently laid out.

The café has up to 30 covers. The customer service point is to the right. There is an overhead menu. There are customer toilets.

To the rear is a store room. There are toilets, 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 £5,000.

First Floor
On the first floor there is private accommodation which is not included in the lease and has independent access.

Financial Details
The present turnover is £67,600 per year with a gross profit of £33,800 and a net profit of £11,830. The present value of the stock is £750.
The potential turnover of the business within the next 2 years is forecast to reach £85,000 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:

Leasehold

Lease terms:

The original length of the lease was 20 years with 16 years remaining. The rent is £11,000 pa with a review in 2015. The lease may be renewable or negotiable for longer term if required. The rates are £2,760 pa.

Leasehold rent:

£11000 pa per annum

Location:

- Situated in Highgate area of North London.
- Prominent location on main arterial road.
- Part of a parade of shops.
- Excellent parking facilities nearby.
- Surrounded by a densely populated residential area with schools and other local amenities.
- Area offers exceptional lifestyle.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Commercially thriving area.
- Well linked and on the A1, Archway Road with good railway links.

Premises details:

The property is terraced and is part of a parade of shops and is approximately 500 sq ft. The front is branded with an attractive glass front. There are manual shutters. The main customer service area has a vinyl floor. It is very well presented and is very conveniently laid out.

The café has up to 30 covers. The customer service point is to the right. There is an overhead menu. There are customer toilets.

To the rear is a store room. There are toilets, staff facilities and a fully equipped 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 especially targeted towards hiring the location for events and parties.
• Increasing the opening hours to include evenings.
• Increasing the product line to include a wider choice of cakes and deserts.
• Becoming more efficient with staffing levels.
• Offer free Wi Fi services.
• With the introduction of a website and e-commerce.

Competition / Market:

As far as competition is concerned this is the only café in the immediate area.

Reasons for selling:

Owner wishes to sell urgently due to family moving abroad.

Trading hours:

Monday to Friday 7am to 4pm
Saturday 7am to 5pm
Sunday 9am to 5pm

Employees:

The concern employs only family members and one non family part time staff. All staff would stay on after a sale.

Years established:

20-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)