| (REF: 2145) Busy Restaurant With Large Accommodation On High Street Location |
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| Seller Reference: |
2145 |
| B4S Reference: |
26116 |
| Asking Price: |
£79,000
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| Net Profit: |
£28,000 |
| Sales Revenue: |
Undisclosed |
| Number of Staff: |
2 |
| Established For: |
51 Years 0 Months |
| Ownership: |
Leasehold |
| Location: |
Ryde, Isle of Wight, United Kingdom |
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The particular highlights of the business are:
- A well established business.
- Good loyal clientele.
- Fully equipped business with favorable lease terms (see below).
-The net profit is £28,000.
- A business with great potential and large living accommodation.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business and ideal purchase for couple or partnership.
- Low rent and rates.
- Very low overheads.
- A niche concern with very little competition.
- Business enjoys superb local reputation.
- The concern provides Wimpy Menu and is linked to Wimpy as a franchise but is run independently.
History
Phoenix Business Transfer Agents are delighted to place onto the market this restaurant which has been established since 1960s. The business has been in the hands of the current owner since 2009 and now wishes to sell to move away with family.
Services
This very good business opportunity provides a full wimpy menu but could be easily changed.
Staffing
The concern employs 2 staff.
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. Ryde has an immediate population of around 25,000, considerably boosted by the influx of summer tourists as well as day-trippers via fast passenger catamaran and Hovercraft links from Portsmouth and Southsea. The town's day-to-day needs have been reinvigorated with a purpose built 24,000 ft Somerfield supermarket encouraging developments now occupied by Iceland, Peacocks, WH Smith, Clintons, Thorntons, O2, Julian Graves and many others.
Competition
As far as competition is concerned there is another similar business some 1/2 miles away.
Market
The client base consists of locals and tourists.
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 a breakfast menu and later evening.
• Increasing the product line to include alcohol.
• Becoming more efficient with staffing levels.
• With the introduction of a website and e-commerce.
• The restaurant can be changed to any A3 use.
• There are 8 rooms above the restaurant that can be used as living or converted into flats.
• To the rear is a large area that could be used for outside dinning.
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.
The net profit is £28,000. The wages are £9.600. The present value of the stock is £2000.
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.
Disclaimer
These details do not constitute part of an offer or contract.
The statements and descriptions given are made without warranties by Phoenix Business Agents Limited who it should be noted have NOT verified the information provided.
Purchasers should in all cases undertake financial due diligence using their own professional advisors before committing themselves in contract rather than relying on illustrations ,figures and information given on behalf of the seller.
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Property: |
Leasehold |
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Lease Terms: |
The original length of the lease was 20 years with 16 years remaining. The rent is £18,000 pa. The lease may be renewable or negotiable for longer term if required. The rates are £6000. |
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Current Rent: |
18000pa |
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Living Accommodation: |
Yes |
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Details of Accommodation: |
On the first floor there are 2 bedrooms, a large living room, kitchen, bathroom and toilet.
SECOND FLOOR
On the second floor there are 3 bedrooms.
THIRD FLOOR
On the third floor there are 3 bedrooms. |
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Location: |
- Situated in busy High street a much sought after area of Ryde on the IOW.
- Prominent location on main arterial road.
- Part of a parade of shops which is part of the main shopping centre.
- Excellent parking facilities.
- Surrounded by densely well populated residential area with schools and other local amenities.
- Very High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Commercially thriving area.
- Well linked with the rest of the Island by both rail and road.
- Ryde sea front lies close by.
- Area enjoying much growth and re generation.
- A lifestyle area.
- Excellent local demographics for this type of area. |
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As far as competition is concerned there is another similar business some 1/2 miles away. |
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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 a breakfast menu and later evening.
• Increasing the product line to include alcohol.
• Becoming more efficient with staffing levels.
• With the introduction of a website and e-commerce.
• The restaurant can be changed to any A3 use.
• There are 8 rooms above the restaurant that can be used as living or converted into flats.
• To the rear is a large area that could be used for outside dinning.
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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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wishes to sell to move away with family. |
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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 Thursday 10am to 7pm
Friday to Saturday 10am to 8pm
Sunday 10am to 6.30pm
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The concern employs 2 staff. |
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