Ref 6105 – Recently Closed Coffee Bar Blacks Brokers are proud to bring to the market this recently closed coffee bar located in a busy and much sought-after area of Bishop's Stortford, Hertfordshire. Introduction
The business had been trading on South Street since September 2017 with our client in ownership since opening. The business was popular and well-known in the area and during it’s relatively short trading history, it had begun to establish itself within the local community, gaining a large customer base and a excellent reputation. The business had many excellent online reviews and a good online following. Location
Situated within Bishops Stortford town centre, the business is close to numerous complementary shops, businesses and the area brings a huge amount of passing trade to the shop. There is also 2,500 new homes being built right now and 800 new flats near the station. Parking is available in the immediate area and public transport links are good. Reason for sale
The business is only being offered for sale due to our client’s family relocation abroad. Lease
The business is held on a Full Repair and Insure (Fri) lease. The current lease is 12 years and began in 2017 at a cost of £721 per week. Building layout and design
The business was previously housed within the ground floor of a spacious, mid-terraced unit on a parade of shops. Inside, there is seating for around 40 and is presented to a very high standard. The space has wooden flooring throughout and contemporary décor in place with free standing tables and matching chairs. The servery is positioned to the rear of the unit with undercounted fridges in place along with drink preparation area. To the rear is a large, well-equipped kitchen complete with newly fitted catering equipment. All areas are presented well with excellent quality fixtures and fittings in place. A full inventory is available on request. Staff
The business was currently operating with eight part-time and seven full-time members of staff in employment. Financial details
The business previously generated an annual turnover of £364,000 with gross profits of £254,800. The previous profit on cost is lower at 70% rather than 75% due to high quality ingredient costs. Summary
This business was newly-established yet well-known in this much-sought after area. Upon re-opening the new owner could introduce longer opening hours and an alcohol licence. There is also some potential for local business catering and deliveries and possibly introducing event hire. This proposition would ideally suit an owner operating team who could build upon the solid and impressive trading foundations. Early viewings are strongly advised. Property: £45,000.
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