LEASEHOLD NEWSAGENTS WITH ACCOMMODATION IN BOURNEMOUTH PRICE REDUCED
Price:
Leasehold - £89,000
Location:
Dorset, Town Centre, Bournemouth
Business Type:
Retail businesses
The particular highlights of the business are:
- A well established business.
- Good loyal clientele.
- Fully equipped business with favorable lease terms (see below).
- Turnover in excess of £350,000 with a net profit of £16,382. (See financial summary below).
- A business with great potential which has not been exploited because of the current owners health problems.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business and ideal purchase for a husband and wife team.
- Low rent and rates.
- Very low overheads.
- Business enjoys superb local reputation.
- The concern provides newspapers, magazines, confectionary, snacks, PayZone and a small range of groceries and toiletries.
History
Phoenix Business Transfer Agents are delighted to place onto the market this Leasehold Newsagents with Accommodation in Bournemouth which has been established since the 1970’s. The business has been in the hands of the current owner since 2009 and he now wishes to sell due to ill health.
Services
This very good business opportunity provides newspapers, magazines, confectionary, snacks, PayZone and a small range of groceries and toiletries.
Staffing
The concern employs two part-time members of staff.
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 are reasonable levels of no local competition due to the town centre positioning of the business.
Market
The client base consists of local residents, retail and office workers allied with high levels of seasonal tourist 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.
• Increasing the product lines to include a wider range of groceries and alcoholic drinks.
• Increasing the services to include the National Lottery and Newspaper deliveries.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With the introduction of a website and e-commerce.
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 £359,852 with a gross profit of £72,205 and a net profit of £16,382. The wages are £12,000 pa. The present value of the stock is £10,000.
The potential turnover of the business within the next 2 years is forecast to reach £425,000 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 town centre area of Bournemouth in Dorset.
- Prominent location on main arterial road.
- Part of a parade of shops.
- Excellent parking facilities nearby.
- Industrial estates nearby.
- Surrounded by a densely populated residential area with schools and other local amenities.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- A commercially thriving area.
- Well linked with the A35, A347 and A338.
- Bournemouth Beach, The Town Centre, Poole Harbor and The New Forest all lie close by.
- Area enjoying much growth and re generation.
- A lifestyle area.
- Excellent local demographics for this type of area.
The original length of the lease was 15 years with 4 years remaining. The rent is £15,500 pa (including the accommodation) with a review in 2015. The lease may be renewable or negotiable for longer term if required. The rates are £3,988 pa (also including the accommodation).
Monday to Saturday: 7am to 6pm
Sunday: 8am to 4pm
The accommodation above the store is spread over two floors and is a very spacious 3 bedroom apartment presented to a very high standard of décor which includes a living room/diner/kitchen. All with great views over the town centre of Bournemouth.
The accommodation has a rentable value of £1,200 pm.
North Yorkshire
£ 750,000
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