Convenience Retail Shop in a prime Resort Town, High Street Location
With 3Brm Flat above
Location : West Whittering
Asking Price : £60,000
Turnover : £261,950
Net Profit : £55,535
Gross Profit : Undeclared
EBITDA : Undeclared
Net Asset : £30,000
Premises : Leasehold
Confidentially offered for sale
Gross Turnover circa £261,950 per annum
Adjusted Net Profit circa £55,535
Net Assets circa £30,000
Includes a 3Brm flat above renting at £725pm
Excellent position in a Parade of busy local shops
Fixtures and fittings
Up to date EPOS technology
Regular and reliable regular customers
Busy and popular seaside town
Extremely well established convenience shop, owned by the present Husband & Wife team since 2015. The business is in a prime high street location, being one of the main thouroughfares into the busy and popular West Sussex seaside town of West Whittering and well positioned among other premium retailers with established clientelle. The close proximity to many South Coast resorts and other dense residential areas provides an excellent and willing customer base.
Well known in the locale for the wide selection of products, from common daily household essentials to health & welfare items. The real power and energy of the shop comes from the attentive and courteous service provided by the staff and the high levels of customer service and satisfaction they generate.
Not surprisingly, the shop enjoys a good level of patronage, the store enjoys a high perecentage of repeat custom.
Above the shop is a spacious 3 bedroomed flat currently renting out at £725pm.
This opportunity is an ideal business for anyone looking to engage with the Health Food & Supplements sector or for someone already in the sector looking for a strongly performing, additional outlet to bolt on to their existing business activities.
The shop has all the equipment normally associated with a business operating in this sector and uses specialist Electronic Point of Sale (EPOS) equipment and software for sales, stock and customer statistics management.
Ideally located in this prime High Street position in close proximity to many other successful retailers in a busy parade of outlets, with its tremendous passing trade.
The shop has an extensive selection of stock, monitored regularly and that has been popular with customers over many years.
The breadth of product choice in combination with the quality of service provided by the knowledgeable and attentive staff, makes this shop stand out among the many competitors, including online alternatives.
The shop is very well known and established in the area.
The shop is run and managed on a day to day basis by the vendor and staff.
The rent of the flat above provides a solid additional income stream.
By creating a web presence the business could increase its turnover and profitability. By possibly introducing other complementary products and services it could capture more of the local market.
The business is being offered for sale on a going concern basis, all financial discussions will take place directly between the vendor and all interested parties under the auspices of Turner Butler.
Due to personal reasons the vendors are keen to do a quick sale and accordingly are inviting sensible offers OIRO £60,000 for their business.
The business has free listings in local publications and their online versions.
The business has grown organically and with further marketing for both the shop and the creation of a website could build on the existing excellent customer base.
In addition to this a new owner could open the shop for longer hours or bring new ideas for new product ranges to the customer base.
The premises are leasehold with a 5 year renewable lease. The square footage is circa 1,200 sq. ft and includes a shop floor, stock room, office area; there is a 3brm flat above. This generates an income of £7,776 net of expenses.
The annual rent & rates is circa £16,000.
Monday – Saturday : 09:00 – 18:00
Sunday: 11:00 – 16.00 during school holidays
Alarm and fully monitored CCTV system.
The vendors are ably supported by two reliable part time staff members who are equally responsible for, retailing, merchandising, cashier, packing and filing.
The vendors would be happy to stay and hand-over and are happy to provide training for an agreed handover period.
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