Busy Leasehold Cafe 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 £90,000 with a net profit of £29,000. (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 provides a Traditional English café with eat in and take away service with gourmet Italian coffee.

History
Phoenix Business Transfer Agents are delighted to place onto the market this Busy Leasehold Café in Central London which has been established since 1966. The business has been in the hands of the current owner since 2005 and he now wishes to sell due to retirement.

Services
This very good business opportunity provides a Traditional English café with eat in and take away service with gourmet Italian coffee.

Staffing
The concern employs two part-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 as the business is well known.

Competition
There is no local competition.

Market
The client base consists of local residents with high levels of 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.
• Increasing the opening hours to include later weekday and Saturday afternoons and Sundays.
• 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.


The present annual turnover is £93,600 with a gross profit of 50% and a net profit of £29,000. The wages are £270 per week. The present value of the stock is £2,000.
The potential turnover of the business within the next 2 years is forecast to reach £135,000 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 lease was 13 years with 8 years remaining. The rent is £11,496 pa with a review in 2012. The lease may be renewable or negotiable for longer term if required. The rates are £1,000 pa.

Leasehold rent:

£11,496 per annum

Location:

- Situated in the Camden area of Central London.
- Prominent location on main arterial road.
- Excellent parking facilities.
- Surrounded by a densely populated and highly 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 A501, A4200, A5200, A40 and M40.
- Islington, Saint Pancras, Bloomsbury and Regents Park all lie close by.
- A lifestyle area.
- Excellent local demographics for this type of area.

Premises details:

The 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 café has 18 covers inside and 20 outside in fine weather. The customer service point is to the left. There is an overhead menu. There are customer toilets.

There is ample storage space in the basement. There is a toilet and staff facilities.

Size in square feet:

600sq ft

Other information

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 later weekday and Saturday afternoons and Sundays.
• 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:

There is no local competition.

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.

Reasons for selling:

wishes to sell due to retirement.

Trading hours:

Monday to Friday: 6.30am to 3pm
Saturday: 7am to 12noon
Sunday: Closed

Furniture / Fixtures value:

£6,000 (included in the asking price)

Inventory / Stock value:

£2,000