| (REF: 2151) Leasehold Town Centre Newsagents In Ipswich Plus SAV |
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| Seller Reference: |
2151 |
| B4S Reference: |
26270 |
| Asking Price: |
£109,000
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| Net Profit: |
£40,000 |
| Sales Revenue: |
£468,000 |
| Number of Staff: |
2 |
| Established For: |
31 Years 0 Months |
| Ownership: |
Leasehold |
| Location: |
Ipswich, Suffolk, 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).
- Turnover in excess of £450,000 pa with a net profit of £40,000. (See financial summary below).
- A business with great potential.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business and ideal purchase for a husband and wife team.
- Low rent and rates.
- Very low overheads.
- Business enjoys superb local reputation.
- The concern provides newspapers, magazines, confectionary, tobacco, greetings cards, ice creams, off license, lottery, PayZone and a small range of convenience items and toiletries.
History
Phoenix Business Transfer Agents are delighted to place onto the market this leasehold town centre newsagents which has been established since 1980. The business has been in the hands of the current owner since 2008 and he now wishes to sell due to retirement.
Services
This very good business opportunity provides newspapers, magazines, confectionary, tobacco, greetings cards, ice creams, off license, lottery, PayZone and a small range of convenience items and toiletries.
Staffing
The concern employs two part-time 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.
Competition
As far as competition is concerned there are other similar businesses in the town centre area.
Market
The client base consists of local residents, town centre shoppers with high volumes of localized office and retail workers.
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 later evenings to increase sales of alcoholic drinks.
• Increasing the product line to include a wider range of groceries and toiletries.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With the introduction of a website and e-commerce.
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 present annual turnover is £468,000 including commissions with a gross profit of 30% and a net profit of £40,000. The wages are £6.00 ph. The present value of the stock is £18,000.
The potential turnover of the business within the next 2 years is forecast to reach £520,000 pa 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.
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 28 years with 23 years remaining. The rent is £4,740 pa. The lease may be renewable or negotiable for longer term if required. The rates are £1,200. |
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Current Rent: |
4740pa |
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Living Accommodation: |
Yes |
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Details of Accommodation: |
The property is terraced and is part of a parade of shops and is approximately 500 sq ft. The front is branded with an attractive glass front. There is a CCTV system. 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.
First Floor
On the first floor there is a gas centrally heated 2 bedroom apartment with kitchen/diner, living room and shower room which can be lived in by the new owners or rented with a value of £395 per month.
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Location: |
- Situated in the town centre area of Ipswich in Suffolk.
- Prominent location on main arterial road.
- Part of a parade of shops.
- Excellent parking facilities nearby.
- Industrial estates nearby.
- Surrounded by a densely populated residential area with schools and other local amenities.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- A commercially thriving area.
- Well linked with the A1156, A1071, A14, A12 and A1214.
- Woodbridge, Felixstowe and Colchester all lie 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 are other similar businesses in the town centre area.
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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 later evenings to increase sales of alcoholic drinks.
• Increasing the product line to include a wider range of groceries and toiletries.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With the introduction of a website and e-commerce.
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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 due to retirement. |
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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 Saturday: 6am to 7pm
Sunday: 6am to 4pm
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The concern employs two part-time staff.
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