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Convenience Retail Shop in a prime Resort Town, High Street Location
With 3Brm Flat above
URGENT SALE

Ref. AA010

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


  • Turner Butler

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Leasehold

Business highlights include:

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
Significant Goodwill

Business Profile

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.

Equipment:

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.

Key Strengths:

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.

Key Opportunities:

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.

Financial Information:

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.

Asking Price:

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.

Advertising and Marketing:

The business has free listings in local publications and their online versions.

Growth and Expansion:

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.

Premises:

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.

Business Hours:

Monday – Saturday : 09:00 – 18:00
Sunday: 11:00 – 16.00 during school holidays

Security:

Alarm and fully monitored CCTV system.

Employees:

The vendors are ably supported by two reliable part time staff members who are equally responsible for, retailing, merchandising, cashier, packing and filing.

Support and Training:

The vendors would be happy to stay and hand-over and are happy to provide training for an agreed handover period.

Reason for Sale:

Genuine retirement sale.

Turner Butler Disclosure Statement

This statement applies to information relating to any company or other undertaking or business advertised for sale by Turner Butler (a 'Business')

The information supplied by Turner Butler on its website or in any other promotional material ('the Information') is not and is not intended to constitute an offer for sale of the Business or any assets of the Business or of the shares of any company which owns the Business.

For the avoidance of doubt there is no intention to create a legal relationship which will only come into existence when a written contract for sale and purchase of the shares in or the Business has been entered into

The Information provided is not intended to address your particular requirements. Further the Information does not constitute any form of advice recommendation representation endorsement or arrangement by Turner Butler and is not intended to be relied upon in making (or refraining from making) any specific decisions.

Any agreements transactions or other arrangements made between you and any client of Turner Butler are at your sole risk and responsibility. The prospective sellers of the Business have provided the Information to Turner Butler. The Information has not been verified by Turner Butler.

You must carry out your own due diligence and satisfy yourself as to the accuracy of all matters. In the case of the sale of shares in a Business the Information has been prepared on the basis that the shares will consist of or include more than 50% of the voting shares and that both the seller and the buyer is either a body corporate, a partnership, a single individual or a group of connected individuals so as to fall outside the scope of regulated activities as defined by the Financial Services and Markets Act 2000. If you are considering a transaction which falls within the scope of such regulated activities you cannot do so through Turner Butler.

Appropriate professional, legal and accountancy advice should be obtained before making or refraining to make any decision.

Turner Butler does not accept any responsibility or liability for loss or damage of any nature that may occur by reliance on the Information. Neither Turner Butler nor any of our employees or agents makes any representation as to the completeness or accuracy of the Information nor do we accept any liability for any losses, costs, liabilities or expenses which may arise directly or indirectly from your use of, or reliance on the Information.

This document is governed by and shall be construed in accordance with English Law and any dispute arising in connection with it shall be subject to the non-exclusive jurisdiction of the English courts

Turner Butler
Ickenham House, 2-4 High Road, Ickenham, Middlesex, UB10 8LJ
Telephone 01895 25 6000 Facsimile 01895 678532
info@turnerbutler.co.uk
www.turnerbutler.co.uk