Off License Near Canary Wharf London For Sale

Business description

Business Details
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 £200,000 with a net profit of £31,000 (see financial summary below).
- A business with great potential which has not been exploited because the current owner has been working 6 day weeks for the last 7 years and has not had the time to fully promote the store.
- An easily run operation.
- A good first time buyers business.
- Ideal purchase for a partnership/family/husband and wife team.
- Low rent and rates.
- Very low overheads.
- Business enjoys a good local reputation.
- The concern provides alcoholic beverages, soft drinks, snacks, tobacco, ice creams and a limited range of packed and tinned groceries.

History
We are delighted to place onto the market this established and very profitable Off License near Canary Wharf in London which has been established since 1990. The business has been in the hands of the current owner since 2004 and he now wishes to retire and return to his country of birth, Portugal.

Services
This very good business opportunity provides alcoholic beverages, soft drinks, snacks, tobacco, ice creams and a limited range of packed and tinned groceries.

Staffing
The concern employs no staff and is run exclusively by a husband and wife team.

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 only a small Nisa store, some 10 minutes walk away.

Market
The client base consists of local residents.

Opportunities
The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings including local and internet advertising.
• Increasing the opening hours to include Sunday trading.
• Increasing the product line to include a wider range of groceries.
• Becoming more efficient with staffing levels.
• 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, part of a parade of shops and is approximately 250 sq ft. The front is branded with an attractive glass front. There are manual shutters and a CCTV system. The main customer service area is tiled with shelving and racking to the walls. It is very well presented and is very conveniently laid out.

To the rear is a store room which is approximately 400 sq ft. There is a toilet, office area and staff facilities.

Equipment with sale
All fixtures, fittings and equipment are included in the sale price and are valued at £2,500.

Financial Details
The present annual turnover is £208,000 with a gross profit of 20% and a net profit of £31,000. The present value of the stock is £5,000.
The potential turnover of the business within the next 2 years is forecast to reach £260,000 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 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. We 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 us 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 8 years with 10 years remaining. The rent is £6,000 pa with a review in 2014. The lease may be renewable or negotiable for longer term if required. The rates are £1,300 pa.

Leasehold rent:

£6,000 pa per annum

Location:

- Situated close to the Canary Warf area of inner London.
- Part of a parade of shops with some 10 units.
- Excellent parking facilities behind the parade of shops.
- Industrial estates nearby.
- Surrounded by a densely populated 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 A1206, A102, A1203 and A13.
- Canary Warf, Greenwich and London City Airport all lie close by.
- Area enjoying much growth and re generation.
- Excellent local demographics for this type of area.

Premises details:

The property is terraced, part of a parade of shops and is approximately 250 sq ft. The front is branded with an attractive glass front. There are manual shutters and a CCTV system. The main customer service area is tiled with shelving and racking to the walls. It is very well presented and is very conveniently laid out.

To the rear is a store room which is approximately 400 sq ft. There is a toilet, office area and staff facilities.

Size in square feet:

250 sq 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 including local and internet advertising.
• Increasing the opening hours to include Sunday trading.
• Increasing the product line to include a wider range of groceries.
• Becoming more efficient with staffing levels.
• With the introduction of a website and e-commerce.

Competition / Market:

As far as competition is concerned there is only a small Nisa store, some 10 minutes walk away.

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:

Owner wishes to retire and return to his country of birth, Portugal.

Trading hours:

Monday to Saturday: 9.00 am - 10.30 pm.
Sunday: Closed.

Furniture / Fixtures value:

£2,500 (included in the asking price)

Inventory / Stock value:

£5,000