Leasehold Nepalese & Thai Restaurant Reading For Sale

Business description

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 £260,000 with a net profit of £100,000+ . (See financial summary below). This is very impressive considering the credit crunch.
• A business with great potential which has not been exploited because of work and time commitments. .
• An easily run operation.
• Good loyal well trained staff.
• A good first time buyers business.

Phoenix Business Transfer Agents are delighted to place onto the market this Nepalese & Thai Restaurant which has been established for over 20 years. The business has been in the hands of the current owner since this time and he now wishes to sell due to a new business venture.

This very good business opportunity provides Nepalese & Thai cuisine as well as a base for parties and business meetings for customers.

The owners’ role is quite hands on and he works full time.

The owner markets the business on international television channels with great success and has a website.

As far as competition is concerned there is no other Nepalese & Thai restaurant in the area in direct competition.

The client base consists of men and women of all ages and all backgrounds.

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 lunch times on weekend days
• Rent out the accommodation above
• Extend the sales area into the basement or; use it for a separate business e.g. wine bar.
• Increasing the product line to include
• Becoming more efficient with staffing levels
• With an enhanced website.

The owner would be available for a business familiarisation period of one week 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 turnover for 2008 was £260,000 with a net profit in excess of £100,000. The present value of the stock is roughly £15,000 and the re-instatement cost for fixtures fittings and equipment are roughly £150,000. The potential turnover of the business within the next 2 years is forecast to reach £310,000+ 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.

Property information

Property:

Leasehold

Lease terms:

The original length of the lease was 25 years with 7 years remaining. The rent is £24,000 per annum. The rates are £6,760 per annum.

Living accommodation:

First Floor & Second Floors On the first and second floors is a duplex apartment boasting four bedrooms, two bathrooms, kitchen and living room. External To the front there is London Street.

Location:

This superb business opportunity is situated in the town of Reading in the County of Berkshire. It is located in the heart of the town on a main arterial road and enjoys much traffic flow and there is a good foot flow of pedestrians. There is a residential area surrounding the property and it is within a commercially thriving part of the area. There is ample free parking nearby.

The area attracts many shoppers who use the area on a daily basis and there are many local facilities including banks and many other retailers. There are also busy industrial estates nearby.

The location is well linked with the A4providing links to the M4 and London. Reading Railway Station is under a mile away. The business has clientele from a 15 mile radius. The locale offers a good lifestyle opportunity.

Premises details:

Property Details
The property is terraced and is part of a parade of shops. The front is branded with an attractive glass front. There are manual shutters and a CCTV system. The main customer service area is carpeted with tables and seating to the walls. It is very well presented and is very conveniently laid out.

The restaurant has 70 covers but there is space to accommodate 100 if necessary. The customer service point is at the front of the restaurant near the entrance/exit. To the rear are a toilet and staff facilities and a fully equipped kitchen. There is also an office and store room.

Other information

Expansion potential:

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 lunch times on weekend days
• Rent out the accommodation above
• Extend the sales area into the basement or; use it for a separate business e.g. wine bar.
• Increasing the product line to include
• Becoming more efficient with staffing levels
• With an enhanced website.

Competition / Market:

As far as competition is concerned there is no other Nepalese & Thai restaurant in the area in direct competition.

Support & training:

The owner would be available for a business familiarisation period of one week 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.

Trading hours:

The business operates from Monday to Thursday between 12:00pm – 2:30pm and 5:30pm – 11:00pm and Friday to Sunday between 5:30pm - 11:00pm.

Furniture / Fixtures value:

£150,000 (included in the asking price)

Inventory / Stock value:

£15,000