Jonathan Ward | Business Broker Tel: 0845 299 0158
Rebecca’s Outside Caterers Unit 6, Watness Avenue, Skelton Industrial Estate, Skelton, Cleveland. TS12 2LQ
OFFERS BASED ON £19,950 NOW REDUCED TO £9,950 TO ACHIEVE A QUICK SALE
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Immaculate outside catering business Superbly fitted unit with low overheads Huge scope to diversify e.g delivery rounds Excellent reputation with increasing sales Brand new kitchen fitted less than 4 years ago 5 star Food Hygiene rating Premises held on Easy in – Easy out terms
(indicative layout of premises – not to scale)
The business is situated on Skelton Industrial Estate which is well located for access to the entire Tees Valley conurbation and further afield via the A174 and A19.
BUSINESS This established business was opened by our clients in October 2006 following the sale of their tea room business. The business achieves a good level of turnover whilst operating on relatively short hours and there is clear potential to expand the business by acquiring additional clients and potentially by diversifying into other areas such as sandwich deliveries. The business provides a wide range of home-cooked food for both corporate and private customers with a flexible and customer focussed approach. The corporate client list includes a number of schools, charities and local government organisations. The purchase of this business represents an excellent opportunity to acquire an established fully fitted catering business, currently trading and with growing sales for far less than the cost of opening and equipping a similar business from scratch.
ACCOMMODATION The business occupies a ground floor mid-terraced industrial unit. The premises can be accessed by either a roller shutter – giving direct access to the dry store or via a personnel door which leads in to the office / reception area. The office / reception gives access to a washroom and WC and also direct to the kitchen. The kitchen itself which was installed in late 2006 is extremely well equipped with a wide range of modern equipment along with hygienic wall, floor and ceiling surfaces. The equipment includes: ample stainless steel work surfaces, full width extractor, refrigerators and freezer, electric commercial oven with hotplates, dishwasher sinks for pot washing, food preparation and hand washing. The cost of the kitchen was around £50,000. The kitchen gives access to a dry store which also acts as an ideal loading bay via the roller shutter to the front of the premises.
LIVING ACCOMMODATION The premises are lock up and there is no owners living accommodation TAKINGS Accounts for the year ending March 2010 show a turnover of £34,443 (net of VAT)
GROSS PROFIT MARGIN The accounts show a gross profit of 62%
ACCOUNTS We hold accounts for this business which will be provided to interest parties once a viewing of the business has taken place.
ADJUSTED NET PROFIT The available net profit (i.e. after adding back finance costs, depreciation and other expenses) is circa £10,000. This reconstituted net profit – otherwise known as the adjusted net profit – is the figure the arrived at by adding back to the net profit shown on the profit and loss account overheads which are not operationally specific – such as depreciation. These would be overheads which would not be incurred by owner-operators working in the business full time and it would be assumed the business would be bought for cash without mortgage finance. STAFFING Our clients manage and operate the business themselves and as such there are no staff costs.
REASON FOR SALE The business is being offered for sale to enable our clients to take up an one off opportunity that has arisen in a different field.
FIXTURES AND FITTINGS We have been advised by our client that the trade fixtures and fittings are all owned outright and are included within the sale. A refrigerated delivery van may be available subject to separate negotiation.
RENT £3780 per annum exclusive of rates, service charge and VAT (if applicable)
TENURE The premises are held on a license agreement which provides easy in – easy out terms for potential tenants. It is anticipated that upon transfer of the business our clients would surrender their license and that a new license would be issued to the new owner.
RATES We are advised that rates payable are £571 per annum. Interested parties should verify these figures with the Local Rating Authority which is Redcar and Cleveland Council
ASKING PRICE Business (Goodwill) / Fixtures & Fittings: Offers invited in the region of £19,950 £9,950 plus stock at value (which will be minimal)
SUPPORT AND TRAINING Our clients are keen for the business to flourish under new owners and will ensure that the purchaser is fully familiarised with all aspects of the business.
LEGAL FEES Both the seller and the purchaser are to be responsible for the own contractual costs.
PLANNING & STATUTORY CONSENTS Prospective purchasers or tenants should make their own enquiries of the Local Planning Department and satisfy themselves at their own expense as to the use they intend to implement. It should not be assumed that the property has all the necessary planning, building regulations or other statutory consents.
VIEWINGS All viewings are strictly by appointment through Lakey & Co. No direct contact should be made to the business. Contact us on 0845 299 0158 or email email@example.com
PROOF OF FUNDING To comply with current legislation, we are under an obligation to check as far as possible the financial status of prospective purchasers to enable our client to make considered decisions. Confirmation of availability of funds to purchase should be provided to us by your solicitor/bank/building society.
SALES ADVICE If you are thinking of selling a business please contact us for free and impartial advice.
OUR REFERENCE : C824NE
SALES DETAILS / DATE / ISSUE: JW 110810 1
CONTACTING US: T: 0845 299 0158 F: 0845 299 1219 E: firstname.lastname@example.org ALL VIEWINGS ARE STRICTLY BY APPOINTMENT THROUGH THIS OFFICE LAKEY & CO for themselves and for the vendor(s) or lessor(s) of this business / property give notice that these particulars do not constitute any part of an offer or contract. Any intending purchasers must satisfy themselves as to the accuracy of the particulars and no warranty is given by the vendor(s), their agents or any person in their employment. Offered subject to contract, prior sale or withdrawal. Sizes quoted are approximate only.