Business Hilton Smythe welcomes to the market Bunnies, established by our client in July 2014, however, the premises has been a café since around 1998. Our client has genuine reasons to sell due to ill health. Bunnies is a traditional cafe serving breakfasts, lunches and hot drinks.
Since our client took over the business they have also sold some clothes from the basement level, which has had a very small impact on the turnover, with around 95% of the revenue coming from the food and drink side.
There is a lot of repeat custom as well as passing trade from people shopping at Tesco and walking in to town past the café. Bunnies does not have a website, however, it does have a Facebook page with 5* reviews and 4.5* reviews on TripAdvisor.
There is plenty of scope to develop the business, currently our client runs the café on her own with some ad hoc part time help, therefore, this business would suit a couple to enhance the turnover and bottom line. Things that could improve the business are:
•Longer opening hours – opening later into the evening as a bistro •Opening Sundays – especially in the summer months and for Sunday lunches •Being a dog friendly café •Utilising either the basement or top floor as extra dining space •Putting on afternoon teas •Applying for an alcohol licence •Current prices are very reasonable, therefore, look at the pricing points to increase revenue •Invest in an ice cream machine or ice cream freezer for Summer trade
Hilton Smythe highly advise early viewing to avoid disappointment.
Location Bunnies is located in Norfolk market town of Fakenham, opposite a bus stop and close to Tesco and other local shops, which bring a high footfall to the area. Fakenham traditionally has a large visitor base in the summer months and is popular with dog walkers and race goers who enjoy race meetings at the local Fakenham Races.
There is 3 hour free parking at Tesco, which does not have a cafeteria or any other form of eatery within its premises.
Premises To the front of the property there is room for 2 x small bistro style tables giving seating for 4
There are steps up to the main café, which is entered from the main road. The main café area has current seating for 18 across 6 tables. From this area there are steps down to the basement room, a door with steps up to the first floor, the servery area, a storage cupboard and a door to the rear dining room.
The rear dining room has stripped wood flooring a window to the rear and current seating for 10 across 3 tables.
This room displays artwork from local painters who pay a commission on any artworks sold. This room is popular as a local meeting room.
The servery has counter with storage and till, Buffalo dry ban Marie/hot cupboard, drinks display fridge, coffee machine and a door to the kitchen.
The kitchen, which is currently 4* hygiene rated, has double fryers, cooker, microwave, sinks, dishwasher, fridge, toaster and freezer.
First floor room is currently used as the store room.
Basement room is currently used to display clothes on a few clothes racks. However, this could be better utilised as a further dining space. Off this area are the customer toilets
Tenure We are advised the business is being sold as a leasehold business opportunity with a 5 year lease from July 2014 and an annual rent of £12,500
We have been informed that the landlord is flexible with regards to renewing the lease
We have been informed that there are no restrictions on the lease with regards to opening times.
Staff The business is run and managed by our client, with the help of some ad hoc members of staff. We believe this business would suit a couple.
Financial Profile Bunnies generated an advised turnover of circa £37,941 as of the 2017/18 accounts, with a gross profit of £28,628 and a net profit of £4,701. The assets being sold with the business are worth in the region of £10,000.
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