Lucrative Leasehold CTN & Off License In Bath 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 £850,000 with a net profit of £85,000. (See financial summary below). This is very impressive considering the credit crunch.
• A business with great potential which has not been exploited because the owners cannot work the necessary hours.
• 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 thriving CTN and off license which has been established for over 25 years. The business has been in the hands of the current owners since 2004 and they now wishes to sell due to re location.

This very good business opportunity provides a CTN service and a convenience and off license as well as lottery, top up, and photocopying. There are also 14 rounds.

The concern employs some part time staff and approximately 20 paper delivery staff. They would stay on after a sale.

The owners’ role is full time and they are both very hands on.

The owners do no marketing for the business as it is so well established.

As far as competition is concerned this is the only traditional CTN in the area.

The client base consists of locals and some passing trade.

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 evenings when the off license side of the business would prosper and longer weekend hours.
• Increasing the product line to include other products for the evening shifts.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.

The owner would be available for a business familiarisation period of one week for the benefit of the new owners if required.

Financial Details
The present turnover is £850,000 per annum with a gross profit of 25% and a net profit of £85,000. The wages are £34,000. The present value of the stock is £16,000 and the fixtures fittings and equipment are worth £10,000.
In 2008, the turnover was £850,000. The potential turnover of the business within the next 2 years is forecast to reach £1 million 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 24 years with 13 years remaining. The rent is £10,000 pa with a review in 3 years. The rates are £3,844 per annum.

Leasehold rent:

£10,000 per annum

Living accommodation:

First Floor There is the possibility of a 2 double bedroom flat being available above the premises at an extra rental.

Location:

This superb business opportunity is situated in Bath .It is 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. It is within the town centre. The area is well populated with students with a nearby bus stop and schools and a hotel.
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 M4, M5 and M32 and the railway station close by. The business has clientele from within a 10 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 and is approximately 25ft x 35 ft. The front is branded with an attractive glass front. There is a canopy to the front and the customer service point is to the right. There is an aisle running through the middle of the shop and shelving and racking to the walls. There are also 2 double and 2 single drinks fridges as part of the sale.

To the rear there is a toilet, a store room and an office. The unit is fully air conditioned.

Equipment with sale
All fixtures and fittings and equipment are included in the sale price and are valued at £10,000.

First Floor
There is the possibility of a 2 double bedroom flat being available above the premises at an extra rental.

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 evenings when the off license side of the business would prosper and longer weekend hours.
• Increasing the product line to include other products for the evening shifts.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.

Competition / Market:

As far as competition is concerned this is the only traditional CTN in the area.

Support & training:

The owner would be available for a business familiarisation period of one week for the benefit of the new owners if required.

Reasons for selling:

The owners now wishes to sell due to re location.

Trading hours:

The business operates from Monday to Saturday between 6.00am and 6.30 pm, and on Sundays between 6am and 1pm.

Furniture / Fixtures value:

£10,000 (included in the asking price)

Inventory / Stock value:

£16,000