LONG ESTABLISHED AND PROFITABLE NEWSAGENT IN BOURNEMOUTH - PRICE REDUCED
Price:
Leasehold - £59,000
Location:
Dorset, Bournemouth Square, Bournemouth
Business Type:
Retail businesses
Business Details
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 £200,000 with a net profit of £27,000 (see financial summary below).
- A business with great potential which has not been exploited because the current owners have not applied for a license to sell alcohol and could gain a lot more trade by being licensed and extending the opening hours.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business and ideal purchase for a family or business partnership.
- Low rent and rates.
- Very low overheads.
- Business enjoys superb local reputation.
- The concern provides newspapers, magazines, confectionary, greetings cards, postcards, soft drinks, hot drinks, snacks, souvenirs and a range of fancy beach goods and toys.
History
Phoenix Business Transfer Agents are delighted to place onto the market this Long Established and Profitable Newsagents in Bournemouth which has been established since 1947. The business has been in the hands of the current owners since 2000 and they now wish to sell due to retirement.
Services
This very good business opportunity provides newspapers, magazines, confectionery, greetings cards, postcards, soft drinks, hot drinks, snacks, souvenirs and a range of fancy beach goods and toys.
Staffing
The concern employs two part time members of staff who work at weekends.
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 is another similar but poorly run business some 500 yards away.
Market
The client base consists of local residents, office and retail workers and tourists/holiday makers.
Opportunities
The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings including local and internet advertising.
• Increasing the opening hours to include evenings.
• Develop newspaper and magazine deliveries to the vast number of hotels and B&B’s in the Bournemouth area.
• Increasing the product line to include alcoholic drinks.
• 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.
Property Details
The property is terraced, part of a parade of shops and is approximately 500 sq ft. The front is branded with an attractive glass front. There is a CCTV system. The main customer service area is tiled with a middle aisle, shelving and racking to the walls. It is very well presented and is very conveniently laid out.
To the rear is a store room. There is a toilet, staff facilities and a small kitchen area.
Equipment with sale
All fixtures, fittings and equipment are included in the sale price and are valued at £5,000.
Financial Details
The present annual turnover is £215,310 with a gross profit of £48,106 and a net profit of £27,000. The wages are £6,955 pa. The present value of the stock is £15,000.
The potential turnover of the business within the next 2 years is forecast to reach £265,000 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 close to the Town Centre, Pier and Beach area of Bournemouth in Dorset.
- Prominent position and corner location on main arterial road.
- Part of a parade of shops and close to the main shopping centre area.
- Excellent cheap parking facilities and a short walk from the sea front.
- Surrounded by a densely populated residential area with schools and other local amenities.
- High levels of passing trade.
- Excellent volumes of traffic and pedestrian flow.
- A commercially thriving area.
- Well linked with the A35, B3066 and A347.
- Bournemouth Beach, 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 10 years with 9 years remaining. The rent is £10,800 pa with a review in 2013. The lease may be renewable or negotiable for longer term if required. The rates are £4,080 pa.
Monday to Sunday: 7.00 am – 6.00 pm.
North Yorkshire
£ 750,000
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