THRIVING FREEHOLD CONVENIENCE STORE WITH POTENTIAL HAMPSHIRE plus sav

Price:

Freehold - £800,000

Turnover:

Seller Ref:

2343

Location:

Hampshire , Rake

Business Type:

Retail businesses

See Other:

Convenience stores for sale in Hampshire
Off licences for sale in Hampshire
Retail businesses for sale in Hampshire

Description:

THE BUSINESS:

The particular highlights of the business are:
- A freehold business with a property development opportunity and post office potential.
- Outstanding 4 bed room living accommodation.
- A very long established business.
- Good loyal clientele.
- Fully equipped business with favorable lease terms (see below).
- Turnover in excess of £450,000 with a net profit of £70,000. (See financial summary below).
- A business with great potential which has not been exploited because the owners wish to retire.
- An easily run operation.
- Good loyal well trained staff.
- An ideal purchase for a family or a couple.
- Very low overheads.
- An unopposed business with no competition.
- Business enjoys superb local reputation.
- The concern provides a convenience and off licence service with national lottery.

History
Phoenix Business Transfer Agents are delighted to place onto the market this freehold convenience store with huge potential which has been established since 1931. The business has been in the hands of the current owner since 1996 and he now wishes to sell due to retirement.

Services
This very good business opportunity provides a convenience and off licence service with national lottery.

Staffing
The concern employs one part time staff and is family run.

Owners Role
The owner and his wife are 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 is no local competition.

Market
The client base consists of local’s regulars 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.
• Increasing the opening hours to include late nights until 10 pm and later opening on Saturdays and Sundays.
• Increasing the product line to include more varied products.
• There is already in place an agreement with Royal Mail to allow a Post Office on this site. A counter and full facilities are available and the salary would be in the region of £27,000 pa.
• There is a property development opportunity for a 3 bedroom house on the premises for which the market value would be £300,000.

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 £450,000 (this does not include National Lottery which earns £75 per week commission and top ups which yield a net commission of £1,560 pa.) with a gross profit of 25% and a net profit of £70,000. The wages are £5,200. The present value of the stock is £30,000.
The potential turnover of the business within the next 2 years is forecast to reach £600,000 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.

Location Details:

- Situated in Rake area of Hampshire. - Prominent location on main arterial road. - A detached and distinct property. - Excellent parking facilities. - Surrounded by densely populated residential area with schools and other local amenities. - High levels of passing trade. - Good volumes of traffic flow. - A very affluent area. - Area enjoying much growth and re generation. - A lifestyle area. - Excellent local demographics for this type of area.

Trading Hours:

Monday to Friday: 7.00 am to 7.30 pm Saturday: 8.00am – 6.30 pm Sunday: 8.30 am – 1.00 pm

Accommodation:

The whole property is detached. There is a ramp leading to the entrance of this very nice and spacious shop. There is a large service counter with a self contained post office area and aisles along the main shop floor. There are display shelves and fridges to the sides. To the rear is a large kitchen and work area. There are a toilet and staff facilities and two large store rooms. The rear area offers development potential (subject to planning permission) for a three bed room property. There is separate owners’ accommodation consisting of 4 bed rooms, lounge, large kitchen diner and bathroom. It is set over two floors and is well presented and highly desirable. There is a garden with an outbuilding and the accommodation has separate access from the front and rear. There is a large forecourt for up to 12 vehicles and separate on street parking bays. There is also a garage and shed.