Local Store and Butchers Situated in Vibrant Area of Sheffield
Price:
Leasehold - £160,000
Location:
South Yorkshire, Sheffield
Business Type:
Retail businesses
The particular highlights of the business are:
- A well established business in an ideal location.
- Fully equipped business with favourable lease terms (see below).
- Turnover in excess of £364,000 pa with a net profit of £40,000 (see financial summary below).
- An easily run operation.
- A good first time buyers business.
- Low rent and rates.
- Very low overheads.
- The concern provides general convenience, passport photos, fresh fruit and vegetables and a Halal butchers.
History
Phoenix Business Transfer Agents are delighted to place onto the market local store and butchers whose great potential has yet to be reached. The store was established in 2006. The business has been in the hands of the current owner since 2009 and they now wish to sell due to not having the time required to manage the business.
Services
This very good business opportunity provides the local community with an excellent range of general convenience items and Halal meat products.
Staffing
The concern currently employs two part-time staff.
Owners Role
The owner is involved in the day to day running of the business.
Marketing
The owner hasn’t carried out any marketing in recent history.
Competition
As far as competition is concerned there is another similar business approximately 20 minutes walk away.
Market
The client base consists of members if the public from the surrounding housing estates.
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 the National Lottery, newspapers, and an off-license.
• With the introduction of a website and e-commerce.
• Adding the facility to sell mobile phone top ups.
• Adding a cash machine to the store.
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 £364,000 with a gross profit of £145,600 and a net profit of £40,000. The present value of the stock is £15,000.
The potential turnover of the business within the next 2 years is forecast to reach £720,000 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.
The original length of the lease was 10 years with 5 years remaining. The rent is £1,100 pa with a review in 5 years. The lease may be renewable or negotiable for longer term if required. The rates are £4,000.
Monday to Sunday 08.00am – 11.00pm
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