Leasehold Bed and Breakfast in Bolton, MUST VIEW
Price:
Leasehold - £130,000
Location:
Greater Manchester , Bolton
The particular highlights of the business are:
- A good first time buyers business
- A well established business in an ideal location.
- Fully equipped business with favourable lease terms (see below).
- 10 Bedrooms providing sleeping for over 15 people.
-Turnover in excess of £64,000 pa with a net profit of £16,178 (see financial summary below).
- An easily run operation, can be managed/run by an individual.
- Low rent and rates.
- Very low overheads.
- The concern provides Bed and Breakfast facilities.
History
Phoenix Business Transfer Agents are extremely pleased to place on the market this Bed and Breakfast whose great potential has yet to be reached; the establishment was established circa 1961. The business has been in the hands of the current owner since 2007 and they now wish to sell due to not having the time required to manage the business.
Services
This very good business opportunity provides bed and breakfast facilities for the local businesses; whilst also serving the tourist communities.
Staffing
The concern currently employs 1 person to manage the business.
Owners Role
The owner is involved in the day to day running of the business.
Marketing
The owner currently looks after the stock and day to day running of the business.
Competition
As far as competition is concerned there are two similar premises within a 1.5 mile radius.
Market
The client base consists of members if the public. At present there are no commercial contracts in place.
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 to include evening meals and a licensed bar.
• With the enhancing of the website and e-commerce.
• Opting for a more hands-on approach to cut down on wages.
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 estimated to be £64,192 with a gross profit of £55,087 and a net profit of £16,178. The present value of the stock is £600.
The potential turnover of the business within the next 2 years is forecast to reach £100,000 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 Bolton area of Lancashire.
- Set 5 minutes walk from a busy retail road.
- Parking facilities at the rear of the building.
- Surrounded by densely populated residential area.
- Positioned in a perfect location for this type of business.
- A lifestyle area.
- Excellent local demographics for this type of area.
- Affluent area.
The lease agreement on successful purchase will be 10 years at an annual rent of £18,200.
Bed and Breakfast currently offers twenty four hour service
The building is semi-detached. It consists of 10 bedrooms. Four single bedrooms, two twin bedrooms and four double/family rooms. There is a large dinning area allowing seating for 15 in one seating and on the top floor there is a storage room. At ground level there is a private lounge and office area.
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