Business
Please quote reference B07017

CoGoGo are delighted to have been given the opportunity to manage the sale of Coffee Bank London which is a well-established Coffee Shop/Café with a renowned reputation amongst local residents. This is a superb opportunity to take on a popular, profitable and well used local business in an area teeming with customers which still offers further potential.

Coffee Bank was founded by the current owners when they identified the need for a quality coffee shop in the area. The business has been a real labour of love for the owners, a husband and wife team, and considerable money was spent setting and ensuring that their coffee shop is one of the nicest in this part of London.

The business is now being sold, albeit reluctantly and with heavy hearts only due to the owners wishes to pursue a change of direction and spend more time with their young family. The vendors are keen to see their beloved coffee shop / café / pass to an ambitious and entrepreneurial new owner(s) who can take this already thriving business to the next level

Coffee Bank already enjoys a great reputation and has an impressive number of regular customers many of whom are known on a first name basis by the owners who are popular and well respected members of the local community.

The business serves traditional fare that is freshly prepared on the premises using seasonal and local ingredients wherever possible. Customers can choose to eat at or collect from the premises and 20% of the sales come from deliveries via Uber Eats and Deliveroo.

The business holds an alcohol licence.

The menu includes;

• Hot and cold drinks ( best coffee in town reputedly!)
• Breakfasts, traditional and vegetarian, served all day
• Sandwiches & Toasties
• Breakfast Smoothies
• Milkshakes
• Cakes
• Organic Bakery items
• Sourdough Bread
• Salads
• Pasta
• Vegetarian Options

The business is especially well known for its home made cakes and pastries such as Mixed Berry Tart, Banoffee Tart, Red Velvet Cake, Apple Crumble Tart, Strawberry Tart etc.

The sale will include the company website and Facebook page and the business enjoys great visibility online with lovely reviews such as;

• “Very friendly staff and atmosphere, good selection of food and drinks“
• “Beautifully creamy Cappuccino, delivered with delightful customer service and a very convenient location on East Finchley High Road”
• “Very Fine Food…and Very nice service“

Scope to improve;

• Advertising and marketing campaign
• Increase the delivery service which would have a significant effect on turnover
• Extend the opening hours, perhaps opening as a Bistro in the evenings
• Explore the possibility of operating a Sandwich Round delivering to local businesses at lunch times
• Develop an outside catering side to the business.

Reasons to buy;

• A well-established business with an enviable reputation, many existing customers and great visibility on the internet
• Current owners happy to offer a handover to ensure the continued success
• Prime trading position in the centre of the city with loads of footfall
• Ideal owner managed or partnership business
• Lends itself perfectly as a ‘Bolt On’ to an existing food business
• All fixtures, fittings and equipment included making this a real Turnkey business opportunity.

Very rarely do coffee shops of this calibre come to the open market so early enquiry is highly recommended. This lovely little business is likely to attract considerable interest.

Location
Coffee Bank London is located in East Finchley.

East Finchley is an area in North London, immediately north of Hampstead Heath. Like neighbouring Muswell Hill it straddles the London boroughs of Barney and Haringey, with most of East Finchley falling into the London Borough of Barnet. It has the greenest high road in London.

The business is served by East Finchley Underground Station which is well known for its Art Deco style. The station is on the High Barnet Branch of the Northern line which serves the city (via Bank) and the West End (via Charing Cross) with trains every 2-3 minutes

Coffee Bank is located in High Road which is an unusually busy and vibrant shopping area. The business sits alongside other complimentary retail businesses, many of which are interesting independents and thus benefits from really high levels of footfall and passing trade.

The business is beautifully presented and maintained with clear visible signage and distinctive livery.

Premises
Coffee Bank occupies premises ideally suited to the trade. The premises were previously a NatWest Bank branch and so the premises retain a number of interesting and period features. The business briefly comprises a generous coffee shop with tables and chairs providing approximately 40 covers and an open plan preparation area. There are two rooms to the rear, a kitchen and a dry goods store all presented to the highest standards and fastidiously maintained. Additionally there is a basement that is dry and has power and light and is currently used for storage.

Tenure
We are advised that the business is being sold on a Leasehold basis, with 7 years remaining on the 10 year lease. The rent is £45,000 per annum and are advised that rates are approximately £15,000 per annum. 

Hours
The business hours are –

Monday – 8:00am – 5:00pm
Tuesday – 8:00am – 5:00pm
Wednesday – 8:00am – 5:00pm
Thursday – 8:00am – 5:00pm
Friday – 8:00am – 5:00pm
Saturday – 8:00am – 5:00pm
Sunday – 9:00am – 5:00pm

Staff
We are advised that the business ir run and managed by the 2 owners, with the help of 5 part-time members of staff. 

Financial Profile
We are advised that the business generated a turnover in the region of £246,000. Further financials can be made available upon request.