Uniquely Situated Restaurant in Elstree
Price:
Leasehold - £113,500
Location:
Hertfordshire , Elstree
Business Type:
Food Service 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 £85,000 with a net profit of £12,000 (see financial summary below).
- A business with great potential which has not been exploited.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business and ideal purchase for a couple or partnership.
- Low rent and rates.
- Very low overheads.
- A niche concern with very little competition.
- Business enjoys superb local reputation.
- The concern provides high quality home cooked foods.
History
Phoenix Business Transfer Agents are delighted to place onto the market this Uniquely Situated Restaurant which has been established since 1940. The business has been in the hands of the current owner since 2008 and now wishes to sell due to other business interests.
Services
This very good business opportunity provides high quality home cooked foods.
Staffing
The concern employs 2 part-time members of staff.
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 business some 5 miles away.
There is no local competition.
Market
The client base consists of on site employees, flyers and visitors.
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.
• 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 restaurant has 48 covers. The customer service point is to the rear and there are customer toilets.
To the rear is a store room. There is a toilet, staff facilities and a fully equipped kitchen.
EXTERNAL
To the front there is a garden area with tables and chairs.
EQUIPMENT WITH SALE
All fixtures, fittings and equipment are included in the sale price and are valued at £40,000.
FINANCIAL DETAILS
The present annual turnover is £90,000 with a gross profit of 55% and a net profit of £12,000. The wages are £12,000 pa. The present value of the stock is £2,000.
The potential turnover of the business within the next 2 years is forecast to reach £113,500 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 Elstree area of Hertfordshire.
- The restaurant is situated in the centre of Elstree aerodrome.
- Excellent parking facilities.
- A lifestyle area.
- Excellent local demographics for this type of area.
The original length of the lease was 5 years with 2.5 years remaining. The rent is £1.00 pa with a review in 2.5 years. The lease may be renewable or negotiable for longer term if required.
Monday to Saturday: 9.00 am – 4.00 pm.
Sunday: 10.30 am - 4.00 pm.
North Yorkshire
£ 750,000
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