There is an opportunity to purchase the business either with or without residential accommodation above the retail shop. A new lease will be granted by the landlord, Nottingham City Council, which has indicated that they wish to have staged increases in rent over the period of a lease.
Weekly sales are currently in excess of £6,000 ex VAT. Commission from the National Lottery and Paypoint add a further amount of approximately £370 per week. The business shows an annual profit, before employee costs, of £43,000. The staff costs are £21,481 for the manager, £11,232 for staff and £7,020 for the paper delivery staff. Using the accounts year ending March 2016 an owner operator would be able to take a wage of circa £25,000 when added to the net profit of £3615.
The business provides the full range of goods and services normally associated with this type of business, including a small number of newspaper delivery rounds.
The business is located in modern premises in a popular parade of shops. However, the interior of the premises are ready for refurbishment, which could also benefit the sales and profitability of the business.
The asking price has been realistically set to reflect the need to improve the retail offer and the likely increase in rent.
The business will appeal to buyers seeking to purchase their first business in this sector and to those who have experience but are looking to have accommodation attached to the business.
The business occupies premises in a popular parade of shops in a Nottingham suburb. There is on street parking in front of the shop.
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