LEASEHOLD CHINESE RESTAURANT AND TAKEAWAY, ESSEX
Price:
Leasehold - £155,000
Location:
Essex , Barking
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 £208,000 pa with a net profit of £20,000. (See financial summary below). This is very impressive considering the credit crunch.
- A business with great potential which has not been exploited because the vendor has other business interests. .
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business.
- The business provides Chinese food with a fully licensed bar and provides a takeaway service.
History
Phoenix Business Transfer Agents are delighted to place onto the market this thriving leasehold Chinese restaurant which has been established since1999. The business has been in the hands of the current owners since 1999 and they now wish to sell due to other business interests.
Services
This very good business opportunity provides Chinese food with a fully licensed bar and provides a takeaway service.
Staffing
The concern employs 3 full time staff. They are paid at the rate of £6.10 per hour. The total wage bill is £30,000. All staff would be prepared to stay on after a sale.
Owners Role
The owners’ role is managing and working in the business full time.
Marketing
The owner does not market the business however there is a website.
Competition
As far as competition is concerned there is another restaurant near the train station but this does not affect this business.
Market
The client base consists of local community, business people and 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 and local and internet advertising.
• Providing a home delivery service
• With an enhanced website.
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.
- Situated in Barking area of Essex in Greater London.
- Prominent location on main arterial road.
- Part of a parade of shops.
- Excellent parking facilities nearby.
- Industrial estates nearby.
- Area earmarked for regeneration.
- Surrounded by well populated area with schools and other local amenities.
- Local population consists of locals and business persons.
- Area offers exceptional lifestyle.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Commercially thriving area.
- Well linked with A13 and good railway links.
The original length of the lease was 25 years with 19 years remaining. The rent is £10,000 pa with a review every 5 years. The lease may be renewable or negotiable for longer term if required. The rates are £500.00
Tuesday to Sunday: 12.00 noon - 3.00pm then 6.00pm - 11.30pm
Monday: - Closed
North Yorkshire
£ 750,000
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