Hilton Smythe welcomes to the market Labas, which has been in the town since 2012, having been established by our client, who is now looking to sell for genuine family reasons.
Labas is a European food store which has a licence to sell alcohol and tobacco. It mainly serves the large European community in the town and has a large repeat customer base.
Although this is profitable business the turnover could be increased by creating a website and by keeping the Facebook page up to date. More local and British lines could also be introduced to increase the customer base.
Hilton Smythe highly advise early viewing to avoid disappointment.
Labas is located in the Norfolk market town of Thetford opposite the market place in the main shopping area of Thetford, bringing in a high footfall.
There is free parking in car parks throughout the town, including a car park directly opposite the shop.
Thetford has a population of circa 25,000 people and has a many European residents. The town is located on the main A11 Norwich to London road, has a bus station and train station.
The double fronted shop is entered from the main road and has a tiled floor throughout. There are two main food aisles selling a selection of continental foods.
A large 6 tier display fridge, 3 x display chest freezers, large drinks display fridge.
The service counter has a large cooked meats and fridge chiller, till and behind the counter there are several shelves for alcohol.
Behind the counter is a staff toilet and a kitchenette with shelving, sink, microwave and storage cupboards.
There is a store room with chest freezer, upright freezer, fridge and numerous storage shelves.
The store has CCTV and air conditioning.
We are advised the business is being sold as a Leasehold business opportunity with a rolling lease and an annual rent of £12,000. The landlord is flexible with regards to renewing the lease.
The business opening hours:
Sunday – Thursday: 10.00 am – 8.00 pm
Friday - Saturday: 11.00 am - 10.00 pm
The shop could open earlier in the morning if required as there are no time restrictions on the lease.
The business is run and managed by our client, with the help of 2 x part time members of staff.
Labas generated an advised turnover of circa £239,558 as of the 2017 accounts, with a gross profit of £64,515 and a net profit of £17,949.
The assets in the business are worth circa £15,000.