Hilton Smythe welcomes to the market Pizza King Ltd. This business was originally established in 2004 by our client. This has been a popular takeaway in this location, seeing a generous amount of repeat loyal trade. The owner is now looking to sell the business due to the desire to focus on other business interests.
The business runs as a pizza takeaway offering a variety of fast food products. As well as pizzas they also sell kebabs, wraps, deserts and children’s meals. This is a family friendly takeaway that offers its services 7 days a week, to eat in or takeaway. The shop also offers a delivery service, which has proven to be very popular; orders can be taken through the JustEat site.
The takeaway is currently generating an advised turnover of around £150,000 per annum with a gross profit of 60%. Although this is a healthy turnover we feel there is scope to boost this figure. Our client has run this business at a steady pace to suit, due to other business commitments. Our client has taken on a large amount of staff, with a hands on new owner looking to work at the business, the staffing bills could be reduced massively.
This beach front location guarantees trade all year round. Each year there are flocks of tourists that visit the busy town of Douglas, allowing for a high increase of trade; especially in the warmer summer months.
This is an exceptional business that would make a great first time purchase for those with experience in the trade. Hilton Smythe highly advise early viewing to take in the full potential of the trade.
Pizza King Ltd is located on Queens Promenade in Douglas, Isle of Man.
The takeaway is situated on the main promenade that runs along the beach. This is a popular location that receives a heavy amount of footfall and passing trade. There is a variety of retail stores along this stretch, such as restaurants, tourist points, nightclubs, guest houses and much more. These are complimentary business that allow for a generous amount of trade. Along the road is on street parking, allowing for customers to easily call in.
The road on which the business is located is an arterial road that runs across the coast into the town centre of Douglas. The business is also just a short drive from the A2, which links to further A-roads. There are bus stops close by, which have regular routes around the Isle of Man. The closest train station is in the centre of Douglas, which is just a short 10 minute drive away. Douglas also has the nearest ferry port to Heysham in Lancaster.
Single glass fronted shop with door into takeaway/dining area. The store is well-signed and the property has been completed to a high standard. The front windows are actually bi-folding doors and the front of the store opens up.
There are approximately 24 covers for dining inside. There are bar stools, dining chairs and also leather bench seating. The main counter has an open pizza kitchen/cooking area behind. To the rear, there is a preparation and storage area.
There is a basement that runs along the bottom of the shop, which is used for storage.
Equipment included in the sale is as follows-
Large commercial pizza oven
Commercial double deep fat fryer
Commercial microwave oven
50" flat screen JVC TV
Tables and chairs
2 commercial stainless steel fridges
Large chest freezer
3 EPOS till systems
6 credit card terminals
There are also 3 vehicles that are included in the sale. These are used for delivery purposes. There is a Toyota Yaris, a jeep, and a Mercedes A180.
We are advised the business is being sold as a Leasehold opportunity.
Original lease length: 10 years
Remaining lease length: 10 years as of 2016.
Rent: £18,200 per annum
The business is open 7 days a week from 4pm till late each night.
The business is run and managed by our clients, with the help of three full time and seven part time members of staff.
The business generates a turnover in the region of £150,000 per annum.
Gross profit 60%
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