Leasehold Established & Well Presented Chinese Restaurant in South Yorkshir
Price:
Leasehold - £90,000
Location:
South Yorkshire, Rotherham
Business Type:
Food Service 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 £125,000 pa with a net profit of £13,000 (see financial summary below).
- A business with great potential.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business
- Low rent and rates.
- Very low overheads.
- A niche concern with very little competition.
- Business enjoys superb local reputation.
- The concern provides excellent quality Chinese cuisine to dine in and takeaway in very well presented surroundings.
History
Phoenix Business Transfer Agents are delighted to place onto the market this well presented and established Chinese restaurant which has been established since 1988. The business has been in the hands of the current owner since 1999 and he now wishes to sell due to retirement.
Services
This very good business opportunity provides excellent quality Chinese cuisine to dine in and takeaway in very well presented surroundings.
Staffing
The concern employs one full-time and one part-time staff and is otherwise a family run business.
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
As far as competition is concerned there are only two other Chinese restaurants in the town centre.
Market
The client base consists of local residents and town centre shoppers. There is a high level of lunchtime 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 open hours to include Sunday trading.
• 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 £130,000 and a net profit of £13,000. The present value of the stock is £5,000.
The potential turnover of the business within the next 2 years is forecast to reach £180,000 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 Rotherham in South Yorkshire.
- 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.
- Commercially thriving area.
- Well linked with the A630, A6021, A6123 and the M1.
- Sheffield, Doncaster and Barnsley all lie close by.
- Area enjoying much growth and regeneration.
- Excellent local demographics for this type of area.
The original length of the lease was 25 years with 1.5 years remaining. The rent is £22,500 pa with a review in 2013. The lease may be renewable or negotiable for longer term if required. The rates are £1,172.
Monday to Thursday: 12noon to 2pm - 6pm to 11pm
Friday to Saturday: 12noon to 2pm - 6pm to 11.30pm
North Yorkshire
£ 750,000
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