Butchers In A Highly Enviable Trading Position – Southsea, Hampshire

Price: £29,995
Contact: Rob Walker - 01204 556327
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Description

Hilton Smythe are delighted to present to the market El Baraka, a much-loved community grocery store specialising in Halal meat and groceries. The business first opened its door in 2018 and due to the number of customers living in the area looking for good quality halal products, has become an instant success.

The business is now been offered for sale due to other business interests of 1 of our clients who is unable to work in the business full time. We believe with some minor improvements the business should easily be able to achieve weekly sales in excess of £4,000.

The business currently offers a wide range of –

  • Halal meats
  • Worldwide groceries, sauces and spices
  • Frozen fish, meats and vegetables
  • Fresh vegetables, breads and dairy products
  • Confectionery, desserts and snacks
  • Cold drinks

Our clients inform us the business is currently butchers led and reputation is growing within the local community for the high quality and range of meats they offer.

Any new owner could further grow the business by –

  • Extending the current retail space
  • Extending the current butchers counter
  • Supplying local Halal focused restaurants
  • Offer local deliveries

Our clients have invested over £35,000 in establishing the business, all equipment will be handed over to any new buyer.

Tenure

Leasehold

We are advised the business is being sold as a Leasehold with 6 years remaining on a 7 Year renewable lease paying just £10,200 per year. The business benefits from full small business relief paying 0 rates in the current year.


Hours

The business operates 7 days a week – opening from 8am TIL 7pm daily.


Staff

The business is run and managed by our clients with 1 other member of staff.


Financial Profile

The business generates a weekly average of £3,000 per week, the annual accounts are currently being prepared by the client’s accountant and a yearly target of £150,000 is being scheduled. Current stock levels are in the area of £8,000. The business operates in a 23% average Gross profit level and is circa £34,500.

Ref: B05495
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