OFF-LICENCE AND CONVENIENCE STORE, ROMFORD, ESSEX
Price:
Leasehold - £85,000
Location:
Essex , Romford
Business Type:
Retail businesses
The particular highlights of the business are:
- Ideally located concern offering excellent lifestyle.
- A well established business.
- Good loyal clientele.
- Fully equipped business with favorable lease terms (see below).
- Turnover in excess of £338,000 pa with a net profit of £25,000.00 (See financial summary below). This is very impressive considering the credit crunch.
- A business with great potential which has not been exploited because .
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business.
History
Phoenix Business Transfer Agents are delighted to place onto the market this thriving Off-License and Convenience Store which has been established since2010. The business has been in the hands of the current owner since 2010 and he now wishes to sell due to other businesses.
Services
This very good business opportunity provides newspapers, cigarettes, alcohol, and groceries
Staffing
The concern employs 1 staff who is part time. The total wage bill is £39,000.00.
Owners Role
The owners’ role is managing and working in the business and works full time.
Marketing
The owner does not market the business and does not have a website.
Competition
As far as competition is concerned there is none in the immediate locality.
Market
The client base consists of locals families and persons from a private estate nearby
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 line to include more variety alcohol and stock, lottery and oyster cards
• 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 and is part of a parade of shops and is approximately 32ft x 17 ft. The front is branded with an attractive glass front. There are electric shutters and a alarm system. The main customer service area is wooden with middle aisles and 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 are a toilet and staff facilities and a kitchen.
Equipment with Sale
All fixtures and fittings and equipment are included in the sale price and are valued at £7,000.00
External
To the front there is off street parking.
To the rear there is a garage.
Financial Details
The present turnover is £338,000.00 per annum with a gross profit of £34,478.00 and a net profit of £25,000.00. The wages are £39,000.00 The present value of the stock is £10,000.00
The potential turnover of the business within the next 2 years is forecast to reach £450,000.00 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 Romford area of Essex.
- Part of a parade of shops.
- Excellent parking facilities nearby.
- Industrial estates nearby.
- Area earmarked for regeneration.
- Surrounded by densely populated residential area with schools and other local amenities.
- Local population consists of local community.
- Area offers exceptional lifestyle.
- Good volumes of pedestrian flow.
- Commercially thriving area.
- Well linked with A13, A1306, A1112, and good railway links.
The original length of the lease was 15 years with 14 years remaining. The rent is £9,000.00 pa with a review inTBA. The lease may be renewable or negotiable for longer term if required. The rates are £471.00
Monday to Thursday – 0730 - 2100
Friday – Saturday – 0700 - 2200
Sunday – 0730 - 1800
North Yorkshire
£ 750,000
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