Intelligent Business Transfer are excited to offer to the market this very rare opportunity to purchase a convenience store in the lovely area of Ravenshead, Nottingham.
The company has been trading under its current owner for nine years, but has been established as a business for almost sixty years. Within these nine years, the business has gained a superb reputation whilst growing on a month-by-month basis. The business Annual Turnover for last year was approximately £300,000 with an impressive adjusted net profit.
The store operates as a traditional convenience store and retains the majority of their customers due to the friendly atmosphere of the store. The business sells essential items such as bread and milk, but a substantial amount of their turnover is made up of cigarette and newspaper sales. The business also sells a significant number of greeting cards and the business benefits from the substantial profit margins on these.
The business has the perfect foundations for success and also offers a potential buyer several ways in which they can improve the impressive financial figures. One way in which this could be achieved, would be to extend the opening hours of the store. The financial figures have been achieved from relatively modest opening hours and would benefit from staying open in the evenings and longer at weekends. The business could also increase the number of products in which they stock, such as selling dairy products, which has been voiced to the current owners on several occasions. The turnover would also benefit from the introduction of the National Lottery.
The company’s current Annual Turnover is in the region of £300,000, with a healthy adjusted net profit figure. The business also enjoys having minimal overheads, as the current owners sub let two offices above the store, which almost covers their rent.
It is with a heavy heart that the current owners are looking to sell the business due to retirement and ill health. The business would suit an entrepreneur or couple with the drive and energy to manage this busy convenience store and implement the changes mentioned above.
We strongly recommend an early viewing to appreciate what is on offer and to avoid disappointment.
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