Leasehold Café with Accommodation Croydon
Price:
Leasehold - £128,500
Location:
London, Croydon
Business Type:
Food Service Businesses
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 £73,500 with a gross profit of £51,000. (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 couple.
- Low rent and rates.
- Very low overheads.
- A niche concern with very little competition.
- Business enjoys superb local reputation.
- The concern provides English café menu and is fully licensed.
History
Phoenix Business Transfer Agents are delighted to place onto the market this busy café which has been established since 1983. The business has been in the hands of the current owner since inception and he now wishes to sell due to retirement.
Services
This very good business opportunity provides English café menu and is fully licensed.
Staffing
The concern employs 2 part-time.
Owners Role
The owner is involved in the day to day running of the business.
Marketing
No marketing or promoting of the business has recently been undertaken as the business is well known.
Competition
As far as competition is concerned there is another similar business close by.
Market
The client base consists of locals and passing trade.
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 to include Sundays and later evening trade.
• Increasing the product line to include a takeaway service.
• Becoming more efficient with staffing levels.
• With the introduction of a website and e-commerce.
• 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.
The present annual turnover is £73500 with a gross profit of 70% the wages are £12,500 pa. The present value of the stock is £2,000.
The potential turnover of the business within the next 2 years is forecast to reach £180,000 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 Addisconbe road area of Croydon.
- Prominent location on main arterial road
- Part of a parade of shops which is part of the local shopping area.
- Excellent parking facilities.
- Industrial estates nearby.
- Surrounded by densely well populated residential area with schools and other local amenities.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Commercially thriving area.
- Well linked with the Croydon and Central London.
- Area enjoying much growth and re generation.
- A lifestyle area.
- Excellent local demographics for this type of area.
The original length of the lease was new 10 years with 10 years remaining. The rent is £22,500 pa with a review in 3years. The rates are £1,200pa.
Monday to Saturday: 08.00 – 3.00pm.
On the first floor there is a 1 double and 1 single bedroom with lounge, bathroom and toilet and a fully fitted kitchen. The accommodation has been refurbished to a high standard.
Second Floor
On the second floor there is an option to convert the loft into a third bedroom.
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