| (REF: 1502) Thriving Ctn Central London |
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| Seller Reference: |
1502 |
| B4S Reference: |
22312 |
| Asking Price: |
£60,000
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| Net Profit: |
£35,000 |
| Sales Revenue: |
£350,000 |
| Number of Staff: |
2 |
| Established For: |
16 Years 0 Months |
| Ownership: |
Leasehold |
| Location: |
Undisclosed, East London, United Kingdom |
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Business Details
The particular highlights of the business are:
- Ideally located concern with very large premises.
- A well established business.
- Good loyal clientele.
- Fully equipped business with favorable lease terms (see below).
- Turnover in excess of £350,000 with a net profit of £35,000. (See financial summary below). This is very impressive considering the credit crunch.
- A business with great potential which has not been exploited because the owner is re locating.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business.
History
Phoenix Business Transfer Agents are delighted to place onto the market this excellent business opportunity which has been established since 1995. The business has been in the hands of the current owner since 2007 and he now wishes to sell due to re location.
Services
This very good business opportunity provides a CTN service as well as Western Union, Pay point, Lottery, Oyster Card, and Fed Ex.
Staffing
The concern employs 2 staff. One is full time and one is part time.
Owners Role
The owners role is hands on and he works full time in the business.
Marketing
The owner does no marketing.
Competition
As far as competition is concerned there are other newsagents in the area but this one is the largest.
Market
The client base consists of office workers 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 products and develop the internet café more.
Becoming more efficient with staffing levels.
Working more hands on hours and saving on wages.
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 property is terraced and is part of a parade of shops and is approximately 500 sq metres and 600 sq metres in the basement. The front is branded with an attractive glass front. There are electric shutters. The main customer service area is carpeted with a middle aisle and shelving and racking to the walls. It is very well presented and is very conveniently laid out. To the rear is a store room. There are a toilet and staff facilities and a fully equipped kitchen.
Equipment with sale
All fixtures and fittings and equipment are included in the sale price and are valued at £15,000.
Basement
There is an internet café set up with 2 stations and a kitchen and toilets. There is also an office and a large store room.
Financial Details
The present turnover is £350,000 per annum with a gross profit of 30% and a net profit of £35,000. The wages are £17,000 pa. The present value of the stock is £20,000 and the fixtures fittings and equipment are worth £15,000.
In 2009, the turnover was £350,000. The potential turnover of the business within the next 2 years is forecast to reach £450,000 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.
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Property: |
Leasehold |
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Lease Terms: |
The original length of the lease was 10 years with 8 years remaining. The rent is £43,000 pa with a review in 3 years. |
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Current Rent: |
43,000 pa |
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Living Accommodation: |
No |
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Location: |
- Situated in EC Postcode area of London.
- Prominent location just off on main arterial road
- Part of a parade of shops
- Excellent metered parking facilities nearby
- Surrounded by well populated residential area with schools and other local amenities.
- Local population consists of office workers and shoppers.
- Commercially thriving area
- Well linked with roads and good railway links.
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As far as competition is concerned there are other newsagents in the area but this one is the largest. |
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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 products and develop the internet café more.
Becoming more efficient with staffing levels.
Working more hands on hours and saving on wages.
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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. |
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Owner wishes to sell due to re location. |
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Is this a home-based business? |
No |
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Can this business be relocated? |
No |
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Is this business part of a franchise? |
No |
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Monday to Friday: 6am to 6pm. Saturday: 5 hours. Sunday: closed |
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The concern employs 2 staff. One is full time and one is part time. |
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