THRIVING FULLY STAFFED CAFÉ NORTH LONDON
Price:
Leasehold - £30,000
Location:
London, North Finchley
Business Type:
Food Service Businesses
The particular highlights of the business are:
- A fully staffed business which would be more profitable with working owners.
- A long established business.
- Good loyal clientele.
- Fully equipped business with favorable lease terms (see below).
- Turnover in excess of £72,000 with a net profit of £28,000 on the accounts (see financial summary below).
- A business with great potential which has not been exploited because the owner has other business interests.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business and ideal purchase for a sole trader.
- Low rent and rates.
- Very low overheads.
- A niche concern with very little competition.
- Business enjoys superb local reputation.
- The concern provides a traditional café menu to eat in and take away.
History
Phoenix Business Transfer Agents are delighted to place onto the market this fully managed cafe which has been established since 1995. The business has been in the hands of the current owner since 2007 and he now wishes to sell due to other business interests.
Services
This very good business opportunity provides breakfasts, lunches and dinners with a very extensive menu.
Staffing
The concern employs 2 full time staff who together operates the business. The wages are £500 per week.
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
There is no local competition.
Market
The client base consists of locals, regulars, workers and contractors as well as 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 later opening and evening trade. An alcohol licence would allow night trade as there are options for al fresco dining.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With the introduction of a website.
• Sunday trading.
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 £72,000 with a gross profit of 80% and a net profit of £28,000. The wages are £25,000. The present value of the stock is £500.
The potential turnover of the business within the next 2 years is forecast to reach £130,000 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 N12 area of North London.
- Prominent location on main arterial road.
- Part of a parade of shops with some 10 units.
- Excellent parking facilities directly outside.
- Industrial estates nearby.
- Surrounded by densely populated residential area with schools and other local amenities.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Commercially thriving area.
- Used by local contractors.
- Area enjoying much growth and re generation.
- Excellent local demographics for this type of area.
The original length of the lease was 15 years with 12 years remaining. The rent is £10,400 pa. The lease may be renewable or negotiable for longer term if required. The rates are £1,300 pa.
Monday to Saturday: 7.00 am – 3.00 pm.
Sunday: Closed.
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