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Hilton Smythe are delighted to present to the market Mr Cod’z Fish and Chips, first established within the area over 40 years ago and recently transformed by our clients just over a year ago into a highly successful and profitable business.
Very rare will a business of this standard come to market and our clients are reluctantly selling due to their home location and fathers health.
The business has only been open 40% of the available time it should be however easily manages an average weekly turnover of £4,000. The sales are currently split 65% through Just Eat orders and 35% from walk in customers. In the summer months the split changes to 60% Just Eat orders and 40% walk in customers.
Since they took over the business, approximately £70,000 has been invested. New electrics, tiling, equipment, signage, new preparation areas and storage, menus and website.
They added to the traditional fish and chips menu to include burgers, kebabs, hotdogs, family meals, kids’ meals and milkshakes. The pizza oven and extraction hood are now installed but due to success of the current menu, our clients have not introduced the pizza menu as afraid it will be too busy for them to manage.
Just Eat orders have been a phenomenal success with order values of £200-£300 coming though in just 1-hour, average order value is now £20 which is very high for this area. The extension of the old menu is obviously working to those loyal delivery customers wanting more from 1 business.
In our opinion, any new buyer could very quickly double the current weekly turnover of this business resulting in a yearly turnover in excess of £400,000. Very simple improvements would include -
1. Opening lunchtimes – lots of local schools, passing builders and workmen in this area
2. Opening later - currently closing at 9-9.30, extending the hours especially at the weekend would further boost Just Eat sales.
3. Opening Sundays
4. Adding a full pizza menu
The position, size and arrangement of the shop unit, excellent reputation and opportunity for further growth will undoubtedly result a high level of enquiries so early viewing is advised to avoid disappointment.
This is a true example of a ‘turnkey’ business opportunity!
Mr Cod’z occupies a highly visible trading position on Elson Road in Gosport, Hampshire.
Previously Elson Village, the area has grown steadily over the years and undergone major redevelopment including many new housing projects increasing families and professionals living in the area.
Elson Road connects to Fareham Rd then Gosport Road leading directly to the A27 cross country link road and M27 motorway.
Gosport sits on a peninsula on the Eastern side of Portsmouth which can be accessed either via the Gosport ferry of back up towards the A27.
The business is surrounded by brick-built family housing, 3 schools, medical centre, new nearby retail, independent shops and services.
There is free customer parking directly outside.
Fuller modernised and refitted ground floor shop unit -
1. Customer sitting area for up to 8 with additional queuing space for Takeaway customers only. New large menu board to both the newly tiled left-hand wall and new lit menu board above the service area.
2. 3 x pan Preston and Thomas range with 2 x heated display boxes, integral chip box and intensity store, large extraction unit, large griddle, kebab machine, 4 x pan Bain Marie, hand wash sink, glass fronted drinks fridge, till, card machine and Just Eat order terminal.
3. Prep area 1 includes fish fridge, tall upright stainless shell freezer, 3 x stainless steel prep tables, glass fronted fridge, triple cupboard stainless steel pizza chiller unit, 2 x large stainless-steel sink units, microwave, wall mounted shelving.
4. Pizza room - new large 1 deck pizza oven and extraction unit
5. Chipping room - rumbler, peeler and washing facilities
6. Fish Prep room - chest freezer, upright fridge and prep table
7. Staff toilet and storage area
First floor accommodation includes 2 bedrooms, bathroom or if rented out 1 of the bedrooms could quite easily be converted into kitchen.
Large secure yard with access to additional storage room which includes 2 x dry store cupboards, chest freezer, dough mixing machine and further shelving.
We are advised the business is being sold as a Leasehold opportunity with a new renewable 7-year lease in place paying. with a combined rent for the business premise and flat at £10,000 per year.
The business also benefits from full small business relief paying £0 in the current year.
Currently run to suit the needs of our clients -
MONDAY TO SATURDAY - 4.00pm - 9.30pm
SUNDAY - closed
The business runs and is managed by our clients with the help of 1 full time preparation person, 2 x counter staff and 2 x delivery drivers.
We are advised the business generates over the year an average weekly turnover of £4,000 resulting in the first year achieving over £200,000.
Adjusted net profit will be in the region of £78,000.
We are advised rental yield for 1 bedroom accommodation in this area is £400-£450 which would not only give an additional net income of around £5,000 but also reduce the current business rent to just £400 pcm therefore increasing the business profit even further.
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