Leasehold Mobile Phone Shop In North London For Sale

Business description

The particular highlights of the business are:
- The owner may be prepared to accept staggered payments for the business, enabling the buyer to pay from profits although a lump sum sale would be more favorably considered.
- 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 £168,000 with a net profit of £83,000. (See financial summary below). This is very impressive considering the credit crunch.
- A business with great potential which has not been exploited because of other businesses
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business.

History
Phoenix Business Transfer Agents are delighted to place onto the market this well branded phone shop which has been established for 10 years. The business has been in the hands of the current owners since business opened and they now wishes to sell due to other businesses.

Services
This very good business opportunity provides pay as you go and contract phones as well as accessories.

Staffing
The concern employs 4 staff. 3 are full time and 1 is part time.

Owners Role
The owners’ roles are hands on and they deal with the day to day running of the business

Marketing
The owner doesn’t currently do any marketing for the business

Competition
As far as competition is concerned there is some in the area.

Market
The client base consists of a wide range of clientele.

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 and opened 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.

Property Details
The front is branded with an attractive glass front. There is a CCTV system. The main customer service area is tiled. It is very well presented and is very conveniently laid out.

To the rear is a store room. There are staff facilities as well as a staff toilet and an office.

Equipment with sale
All fixtures and fittings and equipment are included in the sale price and are valued at £30,000.

Financial Details
The present turnover is £168,000 per annum with a gross profit of 50% and a net profit of £83,000.
The potential turnover of the business within the next 2 years is forecast to reach £250,000 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.

Property information

Property:

Leasehold

Lease terms:

The original length of the lease was 20 years with 11 years remaining. The rent is £14,000 pa with a review in 2years. The lease may be renewable or negotiable for longer term if required. The rates are £2,000.

Leasehold rent:

£14,000 per annum

Location:

- Situated in Southgate area of North London in London
- Prominent location on main arterial road
- Part of a parade of shops
- Excellent parking facilities nearby
- Surrounded by densely populated residential area with schools and other local amenities.
- Local population consists of a mixed clientele
- Very good tourist trade
- High levels of passing trade
- Good volumes of traffic and pedestrian flow
- Commercially thriving area

Other information

Expansion potential:

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.

Competition / Market:

As far as competition is concerned there is some in the area.

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 other businesses

Trading hours:

Monday to Saturday: 9:00- 19:30

Furniture / Fixtures value:

£30,000 (included in the asking price)