Family-Run Off Licence in High Traffic Area of Hastings East Sussex for Sale
Hastings, East Sussex
- Status
FOR SALE
- Date Submitted:
24/11/23
- Advert ID
603069
- Leasehold: £75,000 (Stock at valuation)
- Rent: £5,940
- Turnover: £364,000 (£7,000 Per week)
- Net Profit: On request
Key Features
- Ideal for Full Refurbishment
- Prime Location
- Established Business
- Price Reduced
- Offers Invited
- Close to Local Amenities
- Accounts Available
- Small Business
Business Details
OFF LICENCE FOR SALE IN HASTINGS
Up for sale is a family run Off Licence store with a loyal customer base and located on the main road, with a bus stop directly outside the store. The store enjoys high footfall due to it being situated within half a mile of two schools and constantly served by 4 bus routes.
The reason for the sale is that a family member in the owner's native country has been diagnosed with a serious medical condition and needs round the clock care.
The sale of the store was a disheartening decision as there is a lot of potential still locked inside the business, yet to be seized.
The business has been trading since December 2020 - during the last Covid Lockdown- and has come a long way from the closed down premises it was in 2020.
The business has enjoyed tremendous year on year sales, as locals warmed to the business. It currently sits at around £7,000/week shop sales, plus an additional £1250/week from Payzone. This is almost double last year's total sales.
There is plenty of room around the rear of the store which offers the possibility of expansion to the current premises.
The store currently has no Lottery and this is an easy way for a potential buyer to instantly increase sales.
There are currently no delivery services provided, and the introduction of a delivery service by a potential buyer would further increase sales.
There is a popular fish and chips shop next door and an established Chinese restaurant 2 doors down which further increases footfall . There are no other off licence/convenience stores on the same road as the business. There is also free parking opposite and to the rear of the business.
The business currently has a Payzone terminal and provides services such as (but not limited to) : Bill payments, Gas & Electric, Mobile top ups, Amazon gift vouchers, Dartford crossing payments.
The residential property above the business is currently occupied by a third party but accommodation can be arranged less than 10 metres from the business for a prospective buyer.
The business enjoys Small Business Rates Relief and therefore pays Nil towards Business Rates.
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Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
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The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.
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Send a test amount before you consider handing over a large number of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
Stay Safe
Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.
Stay Safe
Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
Stay Safe
Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
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Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
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