Simphi are delighted to welcome onto the market this well-established newsagent business in a prime trading location in Bury.
The business has been trading for over 20 years and has been under our clients’ ownership since 2009. It is only now being offered to the market due to our clients’ desire for a well-deserved rest.
The business occupies substantial premises in an ideal trading location on a main road. The business is situated next to the town centre and is also surrounded by densely populated residential areas, therefore benefitting from a very high volume of footfall and passing trade.
The business also benefits from ample on-street parking facilities to the front and back of the premises.
The business operates from a large and substantial corner property situated on an extremely busy main road. The location is ideal as the business is situated in the middle of a huge residential area. However, with the town centre and access to major motorways only a stone’s throw away, our clients enjoy a huge amount of passing customers.
This double fronted business has a large sign on the front door and front windows to identify itself from other businesses in the area. However, with a lack of other newsagents/ convenience stores in the immediate vicinity, our clients enjoy a huge footfall of passing and regular customers.
Due to the excellent location, our clients enjoy repeat business from extremely loyal customers who sometimes visit on more than one occasion each day.
The business briefly comprises of the following:
Ground Floor – shop floor, large storage to the rear, and a small kitchenette area. There is also a WC at the rear.
There is also a separate access to the flat upstairs from the rear of the premises, however, this is currently not in use.
The business currently operates on a leasehold with rent currently £5200.00 per annum. Our client has indicated that he pays this quarterly.
The lease expires October 2017 but the landlord has permitted an extension to the current lease and/or would negotiate a new lease with the new owner.
Monday to Friday – 05:30 – 19:30
Saturday - 05:30 – 19:30
Sunday - 05:30 – 15:00
The business is currently owner managed, both husband and wife run the business on a daily basis and are sometimes aided by family and friends as and when required.
Turnover: £720,000 pa
Net Profit: £52,000 pa (Approx.)
Owners salary: Undisclosed
Utility costs: £310.00 pm
Our clients also offer a wide range of other products, including; PayPoint, Payzone, Lottery, Tobacco, GIRO service, Parcel return/collection, Newssheets and Confectionery. There is also a LINK cash machine to allow customers the withdrawal of funds.
A sophisticated computer system is installed to record the newssheet delivery service. The system auto updates and records many items such as invoices etc.
There is also potential for the new owner to increase the turnover by adding Alcohol and Groceries to its range of products sold