LUCRATIVE WITH TREMENDOUS POTENTIAL FOR GROWTH, LEASEHOLD CAFÉ IN DEVON
Price:
Leasehold - £95,000
Business Type:
Food Service Businesses
The particular highlights of the business are:
- Ideally located concern offering excellent lifestyle.
- A well established business.
- Good loyal clientele.
- Fully equipped business with favorable lease terms (see below).
- Turnover in excess of £65,000 with a net profit of £31,000. (See financial summary below).
- A business with great potential which has not been exploited because the owner has not been able to coordinate opening hours to take advantage of local business opportunities. The café is the nearest to the local theatre but does not stay open late to serve this very lucrative opportunity.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business.
History
Phoenix Business Transfer Agents are delighted to place onto the market this lucrative café business which has been established for over 20 years. The business has been in the hands of the current owners since 2005 and they now wish to sell due to retirement.
Services
This very good business opportunity provides a complete English café service complemented with a high quality patisserie
Staffing
The concern employs three part time staff. They are paid at the rate of £5.80 per hour all working 16 hours per week. All staff would stay on after a sale.
Owners Role
The owners’ role is hands on and they work five days per week.
Marketing
The owner is not currently implementing any marketing activity and doesn’t have a website.
Competition
As far as competition is concerned there is none at this highly popular location
Market
The client base consists of locals and tourists.
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 late evenings to complement the local theatre productions.
• Increasing the product line to include evening meals and a table license to match the evening opportunities provided by the local theatre.
• 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.
Property Details
The property is terraced and is part of a parade of shops. The front is branded with an attractive glass front. There are electric shutters. The main customer service area is tiled. It is very well presented and is very conveniently laid out.
The café has 44 covers inside with an additional 6 cover outside. The customer orders dispatch point is to the rear of the premises but all orders are taken from the customers tables by staff. There are customer toilets.
To the rear is a store room. There are a toilet and staff facilities and a fully equipped kitchen.
Equipment with sale
All fixtures and fittings and equipment are included in the sale price and are valued at £5,000.
Financial Details
The present turnover is £66,706 per year with a gross profit of £51,230 and a net profit of £31,000. The present value of the stock is £2,000.
The potential turnover of the business within the next 2 years is forecast to reach £100,000 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.
- Situated of the highly desirable holiday area of Paignton in South Devon.
- Prominent location on main arterial road.
- Part of a parade of shops.
- Excellent parking facilities nearby.
- Surrounded by a densely populated residential area with schools and other local amenities.
- Local population consists of local residents, leisure industry workers and tourists.
- Area offers exceptional lifestyle.
- Outstanding tourist trade.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Commercially thriving area.
- Well linked with the A379, A3022, B3060 and B3199.
The original length of the lease was 15 years with 9 years remaining. The rent is £7,600 pa with a review in 2011. The lease may be renewable or negotiable for longer term if required. The rates are £11,060 pa.
Monday to Saturday: 9am to 3.30pm
Sunday: Closed
North Yorkshire
£ 750,000
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