Traditional Sweet Shop in Hampshire

Farnborough, Hampshire
REF: R07894

Asking Price:
£60,000
Annual Turnover:
£190,877
Annual Net Profit:
£28,000
Featured
Reduced
REF: R07894
Photo of Traditional Sweet Shop in Hampshire
Photo of Traditional Sweet Shop in Hampshire
Photo of Traditional Sweet Shop in Hampshire
Photo of Traditional Sweet Shop in Hampshire

Overview

Tenure:
Leasehold
Established:
2011
  • Well Equipped Business
  • Equipment Included
  • Friendly & Professional Team
  • Wide Variety of Products & Services
  • Strong Supplier Relationships

This is a tantalising opportunity to acquire a traditional sweet shop in an ideal location in the town of Farnborough, Hampshire which is very well-known locally and has traded profitably every year it has operated. The shop is part of the popular Mr Simms Traditional Sweet franchise and offers a mouth-watering range of sweets and chocolates, including a wide variety of sweets suitable for diabetics. Additionally, it is currently retailing Snowshock Slush which has proven very popular with children and highly profitable. From April to September it also sells the renowned New Forest Ice cream in cones.

The premises have a new 5-year lease, with the first 18 months at a rate of £18,500 per annum, reduced from the original £22,000 + vat per annum. If the 18-month break clause is not actioned, the new owner will further benefit from having 3 months rent-free from months 19 to 21. From month 22, the rent will be £20,500 + vat per annum throughout the remainder of the lease. Additionally, the franchise agreement is coming to an end in 2021. The franchise owner is willing to extend the agreement for the new owner, but alternatively the buyer can rebrand and use the existing structure. The shop is presently operated by two full-time and two part-time staff, including the owner. It has implemented a successful click and collect service throughout the Covid-19 pandemic restrictions to maintain its revenue.

The sweet shop is located in The Meads, a popular shopping centre in the heart of Farnborough which attracts a great level of visibility for the shop. The premises are arranged in a traditional layout for the Mr Simms franchise. A glass panel frontage features a door which opens up to the main shop area where customers are greeted by the friendly, welcoming staff. Rows of wooden shelving around the shop display the enticing stacks of sweets and chocolates. A swing door at the rear of the shop opens to an office and storage area. There is a spiral staircase to a first floor comprising extensive storage and a toilet.

All equipment has been bought or made especially for the shop and is incorporated into the sale price, therefore enabling the buyer to immediately begin trading. The business also has a website which gives a detailed product list and contact information. Furthermore, a transitional period is available to ensure a smooth handover of business operations.

The ideal buyer for the Farnborough branch of the beloved Mr Simms franchise is another franchisee or small business owner who wants to expand their operations. The existing franchise is due to expire in April 2021 but the buyer can take out a new franchise agreement with Mr Simms, providing them with some strong purchasing options. Alternatively, the buyer could rebrand the shop and use the existing layout.

The new owner will be able to grow the shop further by developing its existing 1,000+ Facebook following by creating a regular, engaging calendar of content and expanding to other relevant platforms. It would also benefit from updating and modernising its website- the vendor has done a significant amount of work already and has a 500+ photo bank. The buyer could then implement an advertising campaign to increase brand awareness and encourage new visitors. They may also wish to introduce home deliveries to offer customers the ultimate convenience and provide another income source.

Features

Online Presence

Location

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  • City Centre Location
  • Shopping Centre Location
  • Close to Local Businesses
  • Good Transport Links
  • On-Site Car Parking

Property

Annual Rent
£22,200
Annual Rates
TBC
Lease Term (Years)
5
Lease Expiry (Years)
TBC
Accommodation Included
No
EPC Rating
TBC

Financial & More

Annual Turnover
XXXX
Annual Net Profit
XXXX
Stock at Valuation
XXXX
Company Accounts
XXXX
Trading Entity
XXXX
Management Structure
XXXX
Number of Employees
XXXX
Current Ownership
XXXX

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