| (REF: 1749) Upmarket Market Cafe Central London |
| |
| Seller Reference: |
1749 |
| B4S Reference: |
19323 |
| Asking Price: |
£210,000
|
| Net Profit: |
£30,000 |
| Sales Revenue: |
£315,000 |
| Number of Staff: |
7 |
| Established For: |
50 Years 0 Months |
| Ownership: |
Leasehold |
| Location: |
City of London, Central London, United Kingdom |
| |
Business Details
The particular highlights of the business are:
- A very well located business.
- A long established business.
- Good loyal and varied clientele.
- Fully equipped business with favorable lease terms (see below).
- Turnover in excess of £315,000 with a net profit of 30,000 (see financial summary below).
- A business with great potential which has not been exploited because the owner has personal issues.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business and ideal purchase for a partnership.
- Very low overheads.
- A niche concern with very little competition.
- Business enjoys superb local reputation.
- The concern provides a variety of foods for lunches and to take away.
History
Phoenix Business Transfer Agents are delighted to place onto the market this thriving and long established market cafe which has been established since the 1960’s. The business has been in the hands of the current owner since 1990 and he now wishes to sell due to personal reasons.
Services
This very good business opportunity provides sandwiches, hot foods, breakfasts and Italian style foods to eat in and take away.
Staffing
The concern employs 6 full time and 1 part time staff. The wages are £2,000 per week.
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 within the market.
There is no local competition.
Market
The client base consists of city professionals, workers, workmen and shoppers.
Opportunities
The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings and local and internet advertising.
• Increasing the opening hours to include evenings and weekends.
• Increasing the product line to include more foods and outside catering.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With the introduction of a website and e-commerce.
• Introducing alcohol.
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 business is part of Leadenhall Market. This is a large and very busy market and this unit is over three floors. It has a very traditional feel and the entrance has a canopy and outside seating. The entrance leads to the main serving area with a large counter display and preparation area.
First Floor
On the first floor there are 32 covers and a dumb waiter.
Basement
On the first floor there is a fully equipped kitchen and staff facilities as well as a toilet.
Equipment with sale
All fixtures and fittings and equipment are included in the sale price and are valued at £25,000.
Financial Details
The present turnover is £315,000 per annum with a gross profit of 60% and a net profit of £30,000. The wages are £2,000 pa. The present value of the stock is £500.
The potential turnover of the business within the next 2 years is forecast to reach £400,000+ 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.
|
| |
Property: |
Leasehold |
| |
| |
Lease Terms: |
The original length of the lease was 25 years with 20 years remaining. The rent is £39,000 pa with a review in 5 years. The lease may be renewable or negotiable for longer term if required. The rates are £15,000 pa. |
| |
| |
Current Rent: |
39,000 pa |
| |
| |
Living Accommodation: |
No |
| |
| |
Location: |
- Situated in Leadenhall Market in Central London.
- A large array of businesses attracting many clients.
- Location is within the most affluent area of London which has a huge commercial trade.
- A very well established market.
- Very little competition and good lease.
|
| |
As far as competition is concerned there is another similar business within the market.
There is no local competition.
|
| |
The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings and local and internet advertising.
• Increasing the opening hours to include evenings and weekends.
• Increasing the product line to include more foods and outside catering.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With the introduction of a website and e-commerce.
• Introducing alcohol.
|
| |
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. |
| |
Owner now wishes to sell due to personal reasons. |
| |
Is this a home-based business? |
No |
| |
Can this business be relocated? |
No |
| |
Is this business part of a franchise? |
No |
| |
Monday to Friday: 6.00 am – 4.00 pm.
Saturday: 6.00 am – 11.00 am.
Sunday: Closed.
|
| |
The concern employs 6 full time and 1 part time staff. The wages are £2,000 per week. |
|
|
