Leasehold Licensed Café Restaurant Bar In 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 £150,000. (See financial summary below). This is very impressive considering the credit crunch.
• A business with great potential which has not been exploited because the owner wishes to re locate.
• Recently renovated premise which offers numerous uses including a late night venue.
• An easily run operation.
• Good loyal well trained staff.
• A good first time buyers business.

Phoenix Business Transfer Agents are delighted to place onto the market this thriving business which has been established since 1994. The business has been in the hands of the current owner since 1994 and he now wishes to sell due to re location.

This very good business opportunity provides well priced breakfasts and lunches and a selection of Italian and Turkish food.

The concern employs 3 staff. 3 are full time and 1 is part time. The total wage bill is £1200 per week. All staff would stay on after a sale.
The owners’ role is as a silent partner.

The owner does no marketing for the business.

As far as competition is concerned there are numerous eating places nearby.

The client base consists of local and passing trade.

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 late nights.
• Increasing the product line to include other food items.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With the introduction of a website and e-commerce.

The owner would be available for a business familiarisation period of one week 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.

Financial Details
The present turnover is £150,000 per annum with a gross profit of 60%. The wages are £48,000 pa. The present value of the stock is £500 and the fixtures fittings and equipment are worth £20,000.
In 2008, the turnover was £150,000. 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.
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.

Property information

Property:

Leasehold

Lease terms:

The original length of the lease was 13 years with 10 years remaining. The rent is £15,000 pa with a review in 5 years.

Leasehold rent:

£15,000 per annum

Location:

This superb business opportunity is situated in the Maide Vale area of London. It is just off a main arterial road and enjoys much traffic flow and there is a good foot flow of pedestrians. There is a residential area surrounding the property and it is within a commercially thriving part of the area. There is ample parking nearby.
The area attracts many shoppers who use the area on a daily basis and there are many local facilities including banks and many other retailers. There are also busy industrial estates nearby.
The business forms part of a parade of shops. .

Premises details:

The property is terraced and is part of a parade of shops and is approximately 30 ft x 40 ft. The front is branded with an attractive glass front. The main customer service area is wooden with 8 covers. There is a customer service point o the rear and a large kitchen to the back. It is very well presented and is very conveniently laid out. The café/ restaurant has 8 covers. There is a basement which is being refurbished to a very high standard and has up to 40 covers.
To the rear is a store room. There are a toilet and staff facilities and a fully equipped kitchen.

Equipment with sale
All fixtures and fittings and equipment are included in the sale price and are valued at £20,000.

Size in square feet:

approximately 30 ft x 40 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 late nights.
• Increasing the product line to include other food items.
• 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:

As far as competition is concerned there are numerous eating places nearby.

Support & training:

The owner would be available for a business familiarisation period of one week 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 re location

Trading hours:

The business operates from Monday to Sunday between 11am and 11 pm.

Furniture / Fixtures value:

£20,000 (included in the asking price)

Inventory / Stock value:

£500