| (REF: 2370) Delightful Convenience Store, Colchester Essex |
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| Seller Reference: |
2370 |
| B4S Reference: |
30406 |
| Asking Price: |
£595,000
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| Net Profit: |
£50,700 |
| Sales Revenue: |
£338,000 |
| Number of Staff: |
2 |
| Established For: |
70 Years 0 Months |
| Ownership: |
Freehold |
| Location: |
Colchester, Essex, United Kingdom |
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The particular highlights of the business are:
- Ideally located concern offering excellent lifestyle.
- A well established business.
- Good loyal clientele.
- Fully equipped business with favorable lease terms (see below).
- Turnover in excess of £330,000 pa with a net profit of £50,700 (See financial summary below).
- A business with great potential.
- 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 delightful convenience store which has been established since 1941. The business has been in the hands of the current owner since 2002 and he now wishes to sell due to health and personal reasons.
Services
This very good business opportunity provides cigarettes, alcohol, newspapers, confectionery, electrical and hardware and a variety of food products.
Staffing
The concern employs 2 part time staff and the wages are £7,800 pa. There is also a manager who is paid £16,000.
Owners Role
The owners role is to manage the business and serve customers and works full time.
Marketing
The owner does not market the business and does not have a website.
Competition
As far as competition is concerned there are two CO-OP stores either side of the concern within a square mile.
Market
The client base consists of local community, business users and plenty of passing trade.
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 late evenings.
Increasing the product line to include Lottery, Paypoint, cheaper alcohol and more variety with stock.
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 turnover is £338,000 pa with a gross profit of £74,360 and a net profit of £50,700. The wages are £7,800. The present value of the stock is £6,000.
The potential turnover of the business within the next 2 years is forecast to reach £515,000 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.
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 £3,000. |
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Living Accommodation: |
Yes |
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Details of Accommodation: |
On the first floor there are 4 bedrooms and a bathroom. |
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Location: |
- Situated in Colchester area of Essex.
- Prominent location on main arterial road.
- Stand alone parade opposite fish and chip shop.
- Excellent parking facilities nearby.
- Area earmarked for regeneration.
- Surrounded by densely populated residential area with schools and other local amenities.
- Local population consists of residential community and business persons.
- Area offers exceptional lifestyle.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Commercially thriving area.
- Well linked with A134, A133, A12, B105 and good railway links.
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As far as competition is concerned there are two CO-OP stores either side of the concern within a square mile. |
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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 late evenings.
Increasing the product line to include Lottery, Paypoint, cheaper alcohol and more variety with stock.
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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he now wishes to sell due to health and personal reasons.
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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 6.30am 7.30pm
Sunday 7.00am 1.00pm
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The concern employs 2 part time staff and the wages are £7,800 pa. There is also a manager who is paid £16,000. |
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