Long Established Indian Restaurant In Ross On Wye For Sale

Business description

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 £190,000 pa (see financial summary below).
- A business with great potential.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business and ideal purchase for a family
- Low rent and rates.
- Very low overheads.
- A niche concern with very little competition.
- Business enjoys superb local reputation
- The concern provides Indian Cuisine in a 38 cover restaurant, takeaway and free delivery service up to a radius of 3 miles.
History
Phoenix Business Transfer Agents are delighted to place onto the market this Long Established Leasehold Indian Restaurant which has been established since 1985. The business has been in the hands of the current owner since 1985 and he now wishes to sell due to other business interests.
Services
This very good business opportunity provides Indian Cuisine in a 38 cover restaurant, takeaway and free delivery service up to a radius of 3 miles.
Staffing
The concern employs 5 full-time and 2 part-time staff.
Owners Role
The owner is involved in the day to day running of the business.
Marketing
The owner markets the business by distributing menus locally and advertises in local newspapers but doesn’t have a website.
Competition
As far as competition is concerned there are 2 other similar businesses within in the town centre but are considered to be at the lower end of the market.
Market
The client base consists of local residents from within a 10 mile radius.
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.
• Increase the open hours to include lunch time trading.
• Becoming more efficient with staffing levels.
• The business would benefit from a refurbishment.
• 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.

Property information

Property:

Leasehold

Lease terms:

The current owners own the freehold and are offering a new lease for 15 years with 15 years remaining. The rent is £19,500 pa with a review in 3 years from the start of the new lease. The lease may be renewable or negotiable for longer term if required. The rates are £1,500

Leasehold rent:

£19,500 per annum

Location:

- Situated in the Town Centre area of Ross-on-Wye in Herefordshire.
- Prominent location on main arterial road.
- Part of a parade of shops.
- Excellent free parking facilities nearby.
- Industrial estates nearby.
- Surrounded by a densely 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 A40, A49 and M50.
- Hereford, Ledbury, Gloucester and Monmouth all lie close by.
- Area enjoying much growth and regeneration.
- A lifestyle area.

Premises details:

The property is terraced, part of a parade of shops and is approximately 900 sq ft. The front is branded with an attractive glass front. The main customer service area is wooden. It is very well presented and is very conveniently laid out.
The restaurant has 38 covers. The customer service point is to the rear. There are customer toilets.
Ground Floor
On the ground floor there is the fully equipped professional kitchen and store room.
First Floor
The restaurant is situated on the first floor.

Business Operation

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.
• Increase the open hours to include lunch time trading.
• Becoming more efficient with staffing levels.
• The business would benefit from a refurbishment.
• Working more hands on hours and saving on wages.
• With the introduction of a website and e-commerce

Competition / Market:

As far as competition is concerned there are 2 other similar businesses within in the town centre but are considered to be at the lower end of the market

Reasons for selling:

other business interests

Trading hours:

Sunday to Thursday: 6.00pm - 11.00pm.
Friday to Saturday: 6.00pm to Midnight

Employees:

The concern employs 5 full-time and 2 part-time staff

Years established:

1985

Other information

Furniture / Fixtures value:

£25,000 (included in the asking price)

Inventory / Stock value:

£4,000