| (REF: 2323) Long Established Freehold Convenience Store in South Wales |
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| Seller Reference: |
2323 |
| B4S Reference: |
29720 |
| Asking Price: |
£749,950
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| Net Profit: |
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| Sales Revenue: |
£650,000 |
| Number of Staff: |
12 |
| Established For: |
45 Years 0 Months |
| Ownership: |
Freehold |
| Location: |
Bishopston, Swansea, United Kingdom |
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The particular highlights of the business are:
- A well established business.
- Good loyal clientele.
- Fully equipped business with favourable lease terms (see below).
- Turnover in excess of £600,000 pa (see financial summary below).
- A business with great potential for further development.
- 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 rates.
- Very low overheads.
- A niche concern with very little competition.
- Business enjoys superb local reputation
- The concern provides a wide range of general convenience products, off license, frozen foods, fresh fruit and vegetables, in store bakery, newsagents, national lottery, payzone, ATM, photocopier as well as the new health lottery.
History
Phoenix Business Transfer Agents are delighted to place onto the market this long established convenience store which has been established since 1966 and has been trading as a Spar store since 1986. The business has been in the hands of the current owner since 1966 and he now wishes to sell due to retirement.
Services
This very good business opportunity provides a wide range of general convenience products, off license, frozen foods, fresh fruit and vegetables, in store bakery, newsagents, national lottery, payzone, ATM, photocopier as well as the new health lottery.
Staffing
The concern employs 12 part-time staff and the wages are £50,000.
Owners Role
The owner is involved in the day to day running of the business.
Marketing
Spar delivers 1,500 promotional leaflets to the local residential areas every 3 weeks.
Competition
As far as competition is concerned there is another similar business some 4 to 5 miles away.
Market
The client base consists of local residents with some passing trade.
Opportunities
The concern has huge potential. In particular the turnover and profits can be increased by:
• Change the alcohol license to allow products to be displayed on open shelving.
• 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 £650,000 with a gross profit of 20%. The wages are £50,000. The present value of the stock is £48,000.
The potential turnover of the business within the next 2 years is forecast to reach £750,000 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: |
Freehold |
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Lease Terms: |
The business is freehold and the rates are £3,106. |
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Living Accommodation: |
Yes |
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Details of Accommodation: |
On the first floor there is a 2 bedroom flat currently rented at £3,600 pa. |
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Location: |
- Situated in the Bishopston area of Swansea in South Wales.
- Prominent location on main arterial road.
- Excellent free parking facilities nearby.
- Surrounded by a well populated residential area with schools and other local amenities.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Commercially thriving area.
- Well linked with the A4118 and A4067.
- Swansea and the Gower Coast all lie close by.
- Area enjoying much growth and regeneration.
- A lifestyle area.
- Excellent local demographics for this type of area.
- Affluent area.
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As far as competition is concerned there is another similar business some 4 to 5 miles away. |
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The concern has huge potential. In particular the turnover and profits can be increased by:
• Change the alcohol license to allow products to be displayed on open shelving.
• 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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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: 7.00am - 8.30pm
Sunday: 9.00am-6.00pm
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The concern employs 12 part-time staff and the wages are £50,000. |
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