Two Leasehold Sandwich & Coffee Bars In Central London For Sale

Business description

The particular highlights of the business are:
- A well established business.
- Good loyal clientele.
- Fully equipped business with favorable lease terms (see below).
- Turnover in excess of £280,000 with a net profit of £104,000. (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 partnership or 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 has two outlets which provide coffees, cold drinks and juices, sandwiches, gourmet wraps, burgers/grill, breakfasts, soups and omelettes.

History
Phoenix Business Transfer Agents are delighted to place onto the market these two Leasehold Sandwich & Coffee Houses which have been established since April 2010. The business has been in the hands of the current owner since April 2010 and he now wishes to sell and relocate to a new location close to home.

Services
This very good business opportunity has two outlets which provide coffees, cold drinks and juices, sandwiches, gourmet wraps, burgers/grill, breakfasts, soups and omelettes.

Staffing
The concern employs two full-time members of staff.

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 but the concern does operate a web-site.

Competition
There are only low levels of local competition.

Market
The client base consists of mainly office workers in this affluent commercial 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 Saturday and Sunday trading.
• Increasing the product line to include Sunday lunches.
• 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.

The present annual turnover for both outlets combined is £283,400 with a gross profit of £182,000 and a net profit of £104,000. The wages are £1,100 per week. The present value of the stock is £1,000.
The potential turnover of the business within the next 2 years is forecast to reach £350,000 pa 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.

Disclaimer
These details do not constitute part of an offer or contract.
The statements and descriptions given are made without warranties by Phoenix Business Agents Limited who it should be noted have NOT verified the information provided.
Purchasers should in all cases undertake financial due diligence using their own professional advisors before committing themselves in contract rather than relying on illustrations ,figures and information given on behalf of the seller.

Property information

Property:

Leasehold

Lease terms:

The original length of the two business leases were 22 years with 15 years remaining. The rent is £22,584 pa. The leases may be renewable or negotiable for longer terms if required. The total rates payable are just are £2,100 pa.

Leasehold rent:

£22,584 per annum

Location:

- Situated in The Islington area of Central London.
- Prominent location on main arterial road.
- Part of a parade of shops with some.
- Excellent parking facilities nearby.
- Surrounded by a densely populated and very affluent residential area with schools and other local amenities.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- A commercially thriving area.
- Well linked with the A201, A401, A5201 and A5200.
- Clerkenwell, Finsbury, Farringdon, The Barbican and Moorgate all lie close by.
- A lifestyle area.
- Excellent local demographics for this type of area.

Premises details:

The first property is terraced and is part of a parade of shops and is approximately 600 sq ft. The front is branded with an attractive glass front. The main customer service area is tiled. It is very well presented and is very conveniently laid out. The second property is a canteen situated a short distance away inside a luxury office complex and is approximately 600 sq ft.

Both cafés have over 24 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 a toilet and staff facilities.

Size in square feet:

600sq ft

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 Saturday and Sunday trading.
• Increasing the product line to include Sunday lunches.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With an enhanced website.

Competition / Market:

There are only low levels of local competition.

Reasons for selling:

he now wishes to sell and relocate to a new location close to home.

Trading hours:

Monday to Friday: 7am to 4pm
Saturday and Sunday: Closed

Employees:

The concern employs two full-time members of staff.

Years established:

1yr

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:

£25,000 (included in the asking price)

Inventory / Stock value:

£1,000