THRIVING LEASEHOLD BUSINESS ERDINGTON BIRMINGHAM
Price:
Leasehold - £111,000
Location:
West Midlands , Erdington, Birmingham
Business Type:
Retail businesses
Business Details
The particular highlights of the business are:
- A long 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 £35,000 (see financial summary below).
- A business with great potential which has not been exploited because the owner has other businesses.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business and ideal purchase for a partnership.
- Low rent and rates.
- Very low overheads.
- A niche concern with very little competition.
- Business enjoys superb local reputation.
- The concern provides a variety of goods including CTN, ethnic foods, a Halal butchery and hardware.
History
Phoenix Business Transfer Agents are delighted to place onto the market this thriving business which has been established since 1960. The business has been in the hands of the current owner since 2002 and he now wishes to sell due to other business interests.
Services
This very good business opportunity provides an array of products including CTN, Halal butchers, Caribbean foods, various hardware lines, paypoint, pay zone and western union.
Staffing
The concern employs 2 full time staff and the wages are £600 per week.
Owners Role
The owner is involved in the day to day running of the business.
Marketing
The owner markets the business through leaflet drops in local area.
Competition
There is no local competition for some of the products especially hardware.
Market
The client base consists of locals and passing trade as well as local workers.
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.
• There is a huge demand for an off licence.
• Increasing the opening hours to include late nights.
• Increasing the product line to include more varied products.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
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 and is part of a parade of shops and is approximately 20 ft x 70 ft. The front is branded with an attractive glass front. There are electric shutters. The main customer service area is tiled with 2 aisles, shelving and racking to the walls. It is very well presented and is very conveniently laid out. The counter area is to the front, the meat and butchery area to the rear which is fully equipped with a cold display fridge and cold room.
To the rear is a store room. There is a toilet and staff facilities.
Equipment with sale
All fixtures, fittings and equipment are included in the sale price and are valued at £15,000.
Financial Details
The present annual turnover is £350,000 with a gross profit of 20% and a net profit of £30-35,000. The wages are £600 per week. The present value of the stock is £15,000.
The potential turnover of the business within the next 2 years is forecast to reach £500,000 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.
- Situated in Erdington area of Birmingham in West Midlands.
- Prominent location on main arterial road.
- Part of a parade of numerous shops.
- Excellent free parking facilities.
- Industrial estates nearby.
- Surrounded by 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.
- Area enjoying much growth and re generation.
- Excellent local demographics for this type of area.
There will be a new 15 year lease available. The rent will be £15,000 pa with a review in 5 years. The lease may be renewable or negotiable for longer term if required. The rates are £720 pa.
Monday to Saturday: 6.00 am – 7.00 pm.
Sunday: 7.00 am – 2.00 pm.
North Yorkshire
£ 750,000
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