Hilton Smythe welcomes to the market The Kiosk, which has been in the area since the 1970’s and in our clients ownership since 2007. Due to ill health our client is now looking to sell this extremely profitable little goldmine.
The Kiosk may only be small, being approximately 10’x 6’ in size but it is a huge business with a level turnover of approximately £700,00 per annum and approximately £100,000 net profit per annum.
The business has 23 newspaper rounds, delivering over 800 papers per day, 7 days a week. Clients include 4 nursing homes, which have all been on long term contracts.
The customer base is far reaching, and the rounds deliver to Sudbury, Long Melford, Newton Green, Bulmer and other surrounding villages. There is little competition in town as the only other newsagent is McColl’s.
The Kiosk has a Lottery machine, sells tobacco products, confectionery, newspapers & magazines, everything you would expect from your local newsagent. Being small the outgoings are low with no rates to pay and an annual rent of just £3216. This is currently a cash only business, meaning a card machine could easily increase turnover.
Our clients know the majority of their customers by name and believe that customer service is one of the key ingredients to their thriving business.
The business has 5* Google reviews and there is plenty of scope to develop this already successful and profitable business by considering the following:
• Add a card machine
• Look at Payzone etc
• Consider an increase to the reasonable delivery charges for newspapers.
There are many reasons to buy The Kiosk including:
• Large customer base
• Little competition
• Thriving business
• Very high footfall area
• Low outgoings
• Further growth opportunity
Hilton Smythe highly advise early viewing to avoid disappointment.Location
The Kiosk is located in Sudbury, Suffolk, in the town centre within a very high footfall area.
The Kiosk is surrounded by many other businesses including independent retailers and some large chains all bringing a high footfall to this market town.
Parking in Sudbury is free up to 3 hours in local car parks and there is a parking area for The Kiosk and neighbouring shops.
Sudbury has a population of 21,971 as of the 2011 census and is a thriving market town with many surrounding villages. Sudbury is located just north of the border with Essex and is located between Braintree, accessible by A131 and Colchester & Bury St Edmunds via the A134. Sudbury has a train line that leads to London Liverpool Street via Marks Tey.Premises
The Kiosk has a door to the side and an open area to the front for serving customers. The kiosk has full shutters to the outside. There is room inside for 2 members of staff at any time.
Although compact the kiosk has all of the following:
• Newspaper display
• Confectionery display
• Chewing gum stand
• Lottery terminal
• Tobacco area
• 2 x Drinks fridges
• 2 x External newspaper stands
In the mornings the newspapers are made up outside under cover on trestle tables.
There are toilet facilities that are shared with some other shops within a building called Kings House.Tenure
We are advised the business is being sold as a Leasehold business opportunity with a 10-year Lease that was signed in 2015. As the landlord is the local authority, this is a fully renewable lease.
The annual rent is just £3,216 and there are no rates to be paid.Hours
The business opening hours:
Monday - Saturday: 4.30 am – 3.00 pm
Sunday: 4.30 am – 11.00 amStaff
The business is run and managed by our clients with the help of a member of staff.Financial Profile
The Kiosk generated an advised turnover of circa £689,329 as of the 2018 accounts, with a gross profit of £140,410 a net profit of £101,261 and an adjusted net profit of £128,982
The assets being sold with the business are worth in the region of £3,000.