LEASEHOLD RESTAURANT/ CAFÉ IN BRISTOL PRICE REDUCED
Price:
Leasehold - £69,950
Location:
Avon, Cotham, Bristol
Business Type:
Food Service Businesses
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 £85,000 with a net profit of £20,539 (see financial summary below).
- A business with great potential which has not been exploited because the owner is ready to retire.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business and ideal purchase for a couple or partnership.
- Low rent and rates.
- Very low overheads.
- Business enjoys superb local reputation.
- The concern provides a combined service of a traditional English café with various homemade main meal dishes.
History
Phoenix Business Transfer Agents are delighted to place onto the market this Leasehold Restaurant/ Café in Bristol which has been established since the 1960’s. The business has been in the hands of the current owner since 1979 and he now wishes to sell due to retirement.
Services
This very good business opportunity provides a combined service of a traditional English café with various homemade main meal dishes.
Staffing
The concern employs 1 full-time and 2 part-time members of staff.
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
Competition in the area is quite high due to the popularity of the area and due to the high level of students.
Market
The client base consists of locals, students and high levels of 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 including local and internet advertising.
• Increasing the opening hours to include evenings and Monday trading.
• Increasing the product line to include Sunday lunches.
• The location and student population makes this a perfect opportunity to change the restaurant into a Mexican or other trendy ethnically focused catering establishment.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With the introduction of a website and e-commerce.
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 terraced, part of a parade of shops and is approximately 1,500 sq ft. The front is branded with an attractive glass front. The main customer service area is wooden on the ground floor and tiled in the basement. It is very well presented and is very conveniently laid out.
The restaurant has 52 covers and is expandable to 80 covers with a small amount of refurbishment. The customer service point is to the rear. There are customer toilets.
First and Second Floors
On the first and second floors there are a number of rooms currently used for storage and preparation which can be converted into office space.
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 £89,848 with a gross profit of £41,916 and a net profit of £20,539. The wages are £20,000 pa. The present value of the stock is £1,000.
The potential turnover of the business within the next 2 years is forecast to reach £150,000 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 Cotham area of Bristol.
- Prominent location on main arterial road.
- Part of a parade of shops.
- Parking facilities in front of the restaurant.
- Surrounded by a densely populated residential area with a high student population, schools and other local amenities.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- A commercially thriving area.
- Well linked with the M4, M32 and A4018.
- Bristol City Centre, The Waterfront, Clifton, Bath, Somerset, Devon, Cornwall and South Wales all lie close by.
- Area enjoying much growth and regeneration.
- A lifestyle area.
- Excellent local demographics for this type of area.
The current owner is also the landlord and he is offering a new lease which is negotiable up to 15 years. The rent is £18,000 pa with a review every 5 years. The lease may be renewable or negotiable for longer term if required. The rates are £6,000 pa.
Tuesday to Saturday: 9.00 am - 4.30 pm.
Sunday: 10.00 am – 3.00 pm.
North Yorkshire
£ 750,000
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