| (REF: 2393) Chinese Restaurant, Plymouth |
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| Seller Reference: |
2393 |
| B4S Reference: |
30645 |
| Asking Price: |
£95,000
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| Net Profit: |
£40,000 |
| Sales Revenue: |
£200,000 |
| Number of Staff: |
4 |
| Established For: |
4 Years 0 Months |
| Ownership: |
Leasehold |
| Location: |
Plymouth, Devon, 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 £195,000 pa with a net profit of £40,000. (See financial summary below). This is very impressive considering the credit crunch.
- A business with great potential which has not been exploited and is currently sub let. .
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business.
Services
This very good business opportunity provides both a restaurant and takeaway service
Staffing
The concern employs 4 staff. 2 are full time and 2 are part time.
Owners Role
The business is currently sub let by a former employee of the company who runs the restaurant on a hands on basis.
Marketing
There is no marketing currently being undertaken.
Competition
This is a densely populated area very close to the center of Plymouth where there are many other restaurants.
Market
The client base consists of a large local community as well as many Chinese students from the local University
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.
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.
Financial Details
The present turnover is £200,000 per annum with a gross profit of £110,000 and net profit of £40,000. The value of the stock is £5,000.
The potential turnover of the business within the next 2 years is forecast to reach £300,000 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: |
Leasehold |
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Lease Terms: |
A new 15 year lease will be issued on sale with a rent of £19,200 pa. The rates are £5,000pa. |
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Current Rent: |
£19,200 |
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Living Accommodation: |
Yes |
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Details of Accommodation: |
On the first floor there 6 double rooms and 2 shower rooms. All are in need of decoration as they are currently used as staff accommodation. |
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Location: |
- Situated in the highly sought after area of Hoe in Plymouth.
- Prominent location in residential area very close to the city centre.
- Excellent parking facilities nearby.
- Surrounded by densely populated residential area with schools and other local amenities.
- Local population consists of mixed age groups.
- Area offers exceptional lifestyle.
- Very good tourist trade.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Commercially thriving area.
- Well linked with roads and good railway links.
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This is a densely populated area very close to the center of Plymouth where there are many other restaurants.
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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.
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 other business interests. |
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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 Saturday: 12.00pm to 10.00pm |
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The concern employs 4 staff. 2 are full time and 2 are part time. |
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