Busy Takeaway On Main Road 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 £208,000 pa with a gross profit of £124,000 (see financial summary below).
- A business with great potential which has not been exploited because of owner’s ill health.
- Good loyal well trained staff.
- A good first time buyers business and ideal purchase for couple or partnership.
- Low rent and rates.
- Very low overheads.
- A niche concern with very little competition.
- Business enjoys superb local reputation.
- The concern provides a takeaway menu.

History
Phoenix Business Transfer Agents are delighted to place onto the market this busy take a way which has been established since 2002. The business has been in the hands of the current owner since 2010 and he now wishes to sell due to ill health.

Services
This very good business opportunity provides a takeaway menu.

Staffing
The concern employs 3 and the wages are £21,000.

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
As far as competition is concerned there is another similar business close by.

Market
The client base consists of locals.

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 product line.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With an enhanced website.
• Have a home delivery service.

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 £208,000 with a gross profit of £124,000. The wages are £21,000. The present value of the stock is £15,000.
The potential turnover of the business within the next 2 years is forecast to reach £312,000 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 15 years with 6 years remaining. The rent is £24,500 pa with a review in 5 years. The lease may be renewable or negotiable for longer term if required. The rates are £7000.

Leasehold rent:

£24500pa per annum

Living accommodation:

On the first floor there is a kitchen, bathroom and toilet. There are also 2 bedrooms. Second Floor On the second floor there are 2 further bedrooms.

Location:

- Situated in the Church street area of Croydon.
- Prominent location on main arterial road.
- Part of a parade of shops which is part of the main shopping centre.
- Excellent parking facilities nearby.
- Industrial estates nearby.
- Surrounded by 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 rest of Croydon.
- Croydon Central main commercial area 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. 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 takeaway has 16 covers. The customer service point is to the rear and there is an overhead menu.
To the rear is a store room. There is a toilet, staff facilities and a fully fitted kitchen.
There is a walk in fridge and walk in freezer.

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 product line.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With an enhanced website.
• Have a home delivery service.

Competition / Market:

As far as competition is concerned there is another similar business close by.

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:

now wishes to sell due to ill health.

Trading hours:

Monday to Sunday: 11.00am - 11.00pm

Furniture / Fixtures value:

£35,000 (included in the asking price)

Inventory / Stock value:

£15,000