| (REF: 2454) Mediterranean Steak House And Bar, With Accommodation, Stevenage, Herts Price Reduced |
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| Seller Reference: |
2454 |
| B4S Reference: |
32330 |
| Asking Price: |
£100,000
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| Net Profit: |
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| Sales Revenue: |
£200,000 |
| Number of Staff: |
4 |
| Established For: |
7 Years 0 Months |
| Ownership: |
Leasehold |
| Location: |
Stevenage, Hertfordshire, 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 £200,000 pa with a net profit of £0. (See financial summary below).
- A business with great potential which has not been exploited because the owner has various other business interests .
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business and an ideal purchase for a husband and wife team.
- A niche concern with no competition.
- Business enjoys superb local reputation.
- The concern provides a full Mediterranean menu and licensed bar.
Services
This very good business opportunity provides a full Mediterranean menu and licensed bar seating approximately 80 customers in the restaurant and a further 25 in the bar area.
Staffing
The concern employs 4 full time staff. They are paid at the rate of £6.08 per hour. The total wage bill is £40,000pa. All staff would be prepared to stay on after a sale.
Owners Role
The owners role is managing and working works mostly evenings in the business.
Marketing
The owner markets the business in local newspapers and on local radio and has a website.
Competition
As far as competition is concerned there is none.
Market
The client base consists of locals, business people and passing trade.
Opportunities
The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the opening hours to include daytime trading.
• Increasing the product line to include breakfasts and lunches.
• With an enhanced website.
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.
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Property: |
Leasehold |
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Lease Terms: |
The original length of the lease was 25 years with 19 years remaining. The rent is £38,000 pa with a review every 5 years. The lease may be renewable or negotiable for longer term if required. The rates are £14,000 |
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Current Rent: |
The rent is £38,000 pa |
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Living Accommodation: |
Yes |
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Details of Accommodation: |
On the first floor is a 1 double bed roomed flat with separate entrance. Currently let out at £6,000per annum |
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Location: |
- Situated in Queensway area of Stevenage in Hertfordshire.
- Prominent location on main arterial road.
- Part of a parade of shops.
- Excellent parking facilities nearby.
- Industrial estates nearby.
- Area earmarked for regeneration.
- Surrounded by well populated residential area with schools and other local amenities.
- Local population consists of local 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 A1, A1(M), A602 and good railway links.
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As far as competition is concerned there is none |
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The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the opening hours to include daytime trading.
• Increasing the product line to include breakfasts and lunches.
• With an enhanced website.
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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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Due to other business committments |
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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: 5.30pm – 01.00am
Sunday - Closed
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The concern employs 4 full time staff. They are paid at the rate of £6.08 per hour. The total wage bill is £40,000pa. All staff would be prepared to stay on after a sale. |
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