FREEHOLD B&B IN HAMPSHIRE
Price:
Freehold - £695,000
Location:
Hampshire , Hythe, Southampton
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 £120,000 with a net profit of £36,000 (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 couple or partnership.
- Very low overheads.
- A niche concern with very little competition.
- Business enjoys superb local reputation.
- The concern provides an up market bed & breakfast.
History
Phoenix Business Transfer Agents are delighted to place onto the market this Freehold B&B in Hampshire which has been established since 1995. The business has been in the hands of the current owner since 2010 and they now wish to sell due to family commitments.
Services
This very good business opportunity provides an up market bed & breakfast.
Staffing
The concern employs 4 part-time members of staff.
Owners Role
The owner is involved in the day to day running of the business.
Marketing
The owner markets the business through an established website with online bookings.
Competition
There is no local competition.
Market
The client base consists of a varied portfolio which includes a regular stream of business from a nearby oil refinery.
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 service to include evening meals.
• Increase the opening hours to include weekends.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With an enhanced website.
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 detached and has 12 guest rooms comprising of 2 family rooms, 3 single rooms, 3 twin and 4 double rooms, some with en-suite and others with separate facilities. All rooms have a flat screen TV with Free View. There is a tastefully decorated restaurant where breakfasts are served.
There is a fully equipped kitchen.
There is private accommodation for the owners.
External
To the side there is a private car park with spaces for up to 12 vehicles.
To the rear there is an attractive enclosed garden with seating and a smoking area.
Equipment with sale
All fixtures, fittings and equipment are included in the sale price and are valued at £15,000.
Financial Details
The present annual turnover is £121,000 with a gross profit of 65% and a net profit of £36,000. The wages are £7.50 ph. The present value of the stock is £300.
The potential turnover of the business within the next 2 years is forecast to reach £170,000 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.
- Situated in the Hythe area of Southampton in Hampshire.
- Prominent location on a main arterial road.
- Excellent free private parking.
- 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.
- A commercially thriving area.
- Well linked with the A326 and M27.
- The New Forest and Southampton both lie close by.
- Area enjoying much growth and regeneration.
- A lifestyle area.
- Excellent local demographics for this type of area.
Monday to Friday: 24/7 with flexible booking in and out times.
Saturday to Sunday: Closed.
There is private accommodation for the owners.
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