Large Leasehold Convenience Store in Sheffield
Price:
Leasehold - £620,000
Location:
South Yorkshire, Sheffield
Business Type:
Retail businesses
The particular highlights of the business are:
- A well established business.
- Good loyal clientele.
- Fully equipped business with favourable lease terms (see below).
- Turnover in excess of £1,000,000 pa with a net profit of £49,479 (see financial summary below).
- An easily run operation.
- Good, loyal and well trained staff.
- Business enjoys superb local reputation
- The concern provides confectionary, magazines, newspapers, snacks, Paypoint and a large selection of groceries.
History
Phoenix Business Transfer Agents are delighted to place onto the market this convenience store/mini market which has been established since 1995. The business has been in the hands of the current owner since 2008 and now wishes to sell to focus on other interests.
Services
This very good business opportunity provides the local community with a small “Supermarket” on their doorstep as they offer a comprehensive range of groceries and toiletries.
Staffing
The concern employs 7 and the wages are approximately £130,000 per annum.
Owners Role
The owner is involved in the day to day running of the business.
Marketing
The owner currently markets via leaflet drops every 3 weeks.
Competition
As far as competition is concerned there is another similar business in the same precinct.
Market
The client base consists of the general public, the vast majority of which are students.
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 product line to include The National Lottery.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• Applying strategic offers to targeted markets.
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 £1,076,995 with a gross profit of £224,421 and a net profit of £49,479. The wages are £130,000. The present value of the stock is £70,000.
The potential turnover of the business within the next 2 years is forecast to reach £2,000,000 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 the Sheffield area of South Yorkshire.
- Prominent location just off a main arterial road.
- Part of a parade of shops with twenty units nearby.
- Excellent parking facilities nearby.
- Surrounded by densely populated residential area and is walking distance from the town centre.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Thriving student accommodation nearby.
- A lifestyle area.
- Affluent area.
The original length of the lease was 15 years with 11 years remaining. The rent is £42,400pa with a review in 2022. The rates are £12,260 pa.
The concern currently operates 24 hours.
North Yorkshire
£ 750,000
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