Business Newsletter. Q3 - 2024

BUSINESS NEWSLETTER

Q3 - 2024

T: 0113 238 2900 ernest-wilson.co.uk

Q1 - 2022

A Selection of Our Recent Sales. Page 3.

Financing a Business to Fulfil Your Dreams. Page 6-7.

A Selection of Business and Properties for Sale. Page 10-15. Studley Hotel Begins New Chapter with New Owners. (Cover Image) Page 8.

Offices Nationwide

TRIED AND TRUSTED SINCE 1956

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ABOUT US

Ernest Wilson is the leading agent for business sales within the UK. We are based in Leeds, Yorkshire, with a nationwide network of offices spanning the length and breadth of the UK.

Since our establishment in 1956, over 40,000 business owners have trusted us to handle the sale of their business. We pride ourselves on offering a truly comprehensive service, from initial valuation, enhanced due diligence and expert negotiation, through to a swift completion. If you are looking for commercial property for sale or to buy a business or if you are looking to sell a business, you’re in the right place. Buying or selling a business is certainly one of the most important decisions you will ever make and it is vital that you choose a professional agent with the experience and strong ethical standards to ensure that your interests are protected.

We have acted as agent in the sale of literally thousands of businesses and our valuers have over 100 years combined experience in valuing businesses ranging between a minimum of 15 years to 50 years.

Ernest Wilson will pay a referral fee for the successful introduction of buyers and sellers of 10% of their sales commission.

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A SELECTION OF RECENT SALES

Q2 has been a busy quarter with large numbers of viewings which is hopefully a sign that there is more confidence from buyers and will filter down to more sales for our seller clients.

With the General Election round the corner, there is speculation that interest rates will drop once the new Government is in place which again can only have a positive effect on the market.

Harvey Road Post Office,Derby

Sophisti-Cut, Peterborough

Shelf Village Bakery, Halifax

Investment Property, Bradford

Santoni Restaurant, Keighley

Walkley News, Sheffield

Melvyn Davis Bakery, Shipley

Mario’s Diner, Huddersfield

Divino Restaurant, Harrogate

Ernest Wilson offer a FREE confidential valuation service. Call us now on 0113 238 2900. Bantam Restaurant, Helmsley The Glasshouse Cafe, Retford

Peacock Coffee Lounge, Chesterfield

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The Business Centre, Deanhurst Park, Gelderd Road, Gildersome, Leeds, West Yorkshire, LS27 7LG

WHY CHOOSE ERNEST WILSON’S?

Ernest Wilsons are the leading agent for Businesses for Sale within the UK. Our Head Office is based in Leeds, Yorkshire and we have offices throughout the UK.

We have been established since 1956 and we have successfully concluded the sales of tens of thousands of businesses throughout the United Kingdom.

No money up front Free valuations out of office hours if required Very discreet Local and National advertising Regular contact and updates In house dedicated buyers finance team Competitive fees Experienced valuers A huge database of purchasers Recommended by Solicitors and Accountants EPC assessors Local and National advertising Regular contact and updates In house dedicated buyers finance team Competitive fees Experienced valuers A huge database of purchasers Recommended by Solicitors and Accountants EPC assessors SELLING YOUR BUSINESS FOR YOU BUYING A BUSINESS? No money up front Free valuations out of office hours if required Very discreet

No money up front Free valuations out of office hours if requ Very discreet Local and National advertising Regular contact and updates In house dedicated buyers finance team Competitive fees Experienced valuers A huge database of purchasers Recommended by Solicitors and Account EPC assessors TH Local and National advertising Regular contact and updates In house dedicated buyers finance team Competitive fees Experienced valuers A huge database of purchasers Recommended by Solicitors and Account EPC assessors TH No money up front Free valuations out of office hours if requ Very discreet

Selling any business can be a daunting task, but even more so when you’ve worked hard to build your own. That’s why finding the right business transfer agent is so important; you need to trust that you are working with people who have your best interests at heart - this is exactly what you will find at Ernest Wilson.

THE TEAM BEHIND YOU

Buying a business is the start of a new, exciting journey. At Ernest Wilson, we’re here to help you start your new adventure, using more than 60 years’ experience to secure you the right business, at the right price.

Whether you’re after a butchers in Bradford or a pub in Pontefract, a hairdressers in Horsforth or a sweet shop in Scunthorpe, our portfolio of thousands of businesses for sale across the region and beyond means there’s sure to be one that ticks all your boxes. Head over to www.ernest-wilson.co.uk today to see what businesses we have for you.

THE TEAM BEHIND YOU

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THE TEAM BEHIND YOU

Joined October 1985. Our MD Paul Williamson has been buying and selling businesses at Ernest Wilson since joining us in 1985. His vast knowledge of the business transfer and commercial property market – developed over the last 39 years – means you’d be hard pushed to find a question about buying and selling commercial property that he doesn’t know the answer to. As well as being MD, Paul’s also one of our team of valuers and you’ll often find him negotiating the sales of the many different business

Our Sales Director, Stuart Moorhouse, has been with Ernest Wilson after joining the company from Barclays Bank in 1991 and starting as a Sales Negotiator. With a real passion for all elements of his job, Stuart is established as a very prominent figure in the business sales sector. His enthusiasm for the industry means that he’s developed a wealth of experience and quite a loyal following of clients, too!

Mark Czajka joined the firm in February 2019 after spending over 20 years running his own restaurant, bar and service businesses in both the UK and US. Having sold these businesses, Mark then became a valuer and corporate sales negotiator with a national firm. The wealth of experience gained from having operated his own businesses, coupled with his vast experience in consulting for other business owners, Mark understands business from a dual perspective and has developed a strong affinity with clients.

Joined July 2002. Michael Peel has marked his 22nd year at Ernest Wilson, after joining us in 2002 as a Sales Negotiator. Now a Director and Valuer, Michael can usually be found handling the sales of high-value businesses and properties with prices upwards of £500,000. He also oversees the sales of all business transactions through the company, deals with contract queries and chases those solicitors for completion!

Jason Payne joined Ernest Wilson in June 2022 after a career in commercial property and business sales. He is a Member of National Association of Estate Agents (Commercial) and an Associate of the National Association of Valuers & Auctioneers. As a former business owner, Jason has experience and an excellent track over a variety of sectors, he is very well placed to provide advice to clients.

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The Business Centre, Deanhurst Park, Gelderd Road, Gildersome, Leeds, West Yorkshire, LS27 7LG

FINANCING A BUSINESS TO FULFIL YOUR DREAMS

How do I find businesses for sale?

Businesses for sale can be found through various channels, including online marketplaces, business brokers, industry publications, and networking with business owners and professionals. At Ernest Wilson we have a portfolio of around a thousand businesses for sale across the UK. You can also register with us to get full information on the current businesses we’re marketing and receive notifications when new businesses are put up for sale. If you would like support and guidance from one of our expert sales negotiators, feel free to contact us today or schedule an appointment to come and see us.

What factors should I consider when evaluating a business to buy?

When evaluating a business to buy, factors to consider include financial performance, industry trends, market competition, growth potential, operational efficiency, legal and regulatory compliance, and the compatibility of the business with your skills and experience.

What financing options are available for buying a business?

Financing options for buying a business may include bank loans, asset-based lending and angel investors. The most suitable option depends on factors such as the size of the business, your financial situation, and the terms of the sale. Our finance division can share extensive expertise on finance gained from our vast experience of arranging loans on behalf of clients. When you’ve spoken to us, if raising finance is possible then we’ll be happy to arrange this through our extensive network of lending contacts. Often, a business plan is required to support raising the finance, and we can help you with this to support your application.

How do I conduct due diligence on a potential business purchase?

Due diligence involves a thorough examination of the business’s financial records, legal documents, operations, assets, liabilities, customer contracts, employee agreements, and any other relevant information. It helps uncover potential risks and if you’re buying a Limited company, any potential liabilities which ensures that you make an informed decision. The information gathered during due diligence will be required by your solicitor and accountant who will make sure that you are fully informed and protected. Should you need it, we can also offer you information on profit margins and how to read a set of trading accounts.

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What are the key legal considerations when buying a business?

Legal considerations when buying a business include drafting or reviewing the purchase agreement, addressing any outstanding legal issues, transferring/applying for licenses and permits, complying with employment laws, and protecting intellectual property rights. Hiring a solicitor and accountant experienced in business acquisitions can help navigate legal complexities, review contracts and financial documents, perform due diligence, and ensure that the purchase is structured optimally from a tax and legal perspective.

How do I negotiate the purchase price and terms of the sale?

When it comes to negotiating the purchase price and terms, our team is here to guide you every step of the way. We’ll help you understand the ins and outs of the deal, ensuring you’re comfortable and confident throughout the process. Whether it’s assessing the business’s value, conducting due diligence, or finding common ground with the seller, our experienced negotiators will work tirelessly to secure a fair and favourable outcome. Your satisfaction is our priority, and we’re committed to making the negotiation process smooth and stress-free for you.

What happens after the purchase is completed?

After completing the purchase, your solicitor will take care of the paperwork and provide all the necessary documents. They’ll handle everything from transferring ownership to drafting letters for employees and notifying stakeholders. It’s as easy as handing over the reins and watching your new business flourish.

How can I ensure a smooth transition after buying a business?

Ensuring a smooth transition involves effective communication with employees, customers, suppliers, and other stakeholders, retaining key employees (if necessary), implementing any necessary changes gradually, and addressing any challenges promptly to minimise disruption to the business’s operations.

What resources are available to help me navigate the process of buying a business?

Resources to help with buying a business include business brokers, solicitors, accountants, industry associations, online guides and forums, and networking events. Seeking advice and guidance from experienced professionals and peers can provide valuable insights and support throughout the process. If you choose to buy with us, we believe in giving you the very best service. After all, you are making a life changing commitment, and that requires a little bit of support. Through a free, face to-face consultation, we’ll talk you through the ins and outs of the business you’re thinking of buying, providing information on the business’s current financials and what profits you might expect to make, based on profit performance. This way, you’ve got honest, upfront information to help you make that all important decision.

To arrange a convenient time for you,

telephone our office on 0113 238 2900

or e-mail sales@ernest-wilson.co.uk

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The Business Centre, Deanhurst Park, Gelderd Road, Gildersome, Leeds, West Yorkshire, LS27 7LG

STUDLEY HOTEL BEGINS NEW CHAPTER WITH NEW OWNERS

A boutique hotel and restaurant in Harrogate has sold as part of our clients’ well-earned retirement plan, after 22 years at the helm.

Alongside sumptuous guest rooms with unique styles and amenities to suit your trip to the market town, the business provided a magnificent dining experience complete with authentic cookery in a modern, relaxing environment.

Thanks to our diligent team at Ernest Wilson, our clients can put their feet up after over two decades of hosting thousands of visitors – with “Excellent” Tripadvisor reviews to prove it. What’s more is that their amazing reputation has secured the hotel and restaurant’s new owners advanced bookings through this year to give them a solid start.

The 28 bedrooms, complete with ensuites, include a power shower, cloud controlled wi-fi, smart TVs and tea and coffee making facilities – all benefiting from gas central heating and a lift to each of the hotel’s three floors.

Moving through to the restaurant and bar, it is surprising how spacious the area is; the restaurant is not dwarfed by the hotel at all. The restaurant includes a private dining suite, commercial kitchen, walk-in cold room, and toilets for staff and patrons. It serves as a perfect companion piece for visitors and locals alike to enjoy.

We’re wishing the new owners well in the next chapter of this wonderful business’s journey, and we hope our clients have a fulfilling retirement!

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BARGAIN BOOZE FINDS NEW OWNERS IN FAMILY RETAILERS

Ernest Wilson, trusted business agents, are thrilled to announce the lightning-fast sale of Bargain Booze in Mirfield, setting a new benchmark for efficiency in business transactions.

With an instruction to completion in an impressive 11 weeks, the swift pace of this sale underscores Ernest Wilson’s commitment to delivering results promptly and effectively.

The journey began on January 3rd, 2024, when the esteemed owners entrusted Ernest Wilson to market their beloved establishment. For over two decades, this long-established off licence and convenience store has been a cornerstone of the community, offering residents and visitors alike a wide array of beers, wines, spirits, and general convenience items. Its prime location in the heart of bustling Kirklees town centre, with parking front and rear, has ensured a steady stream of customers. Operating sensibly over seven days a week, with potential to extend hours, the business has boasted a weekly turnover of £10,000 to £11,000. Additionally, the parcel service alone brings in £400 to £500 every month, further solidifying its profitability. The new proprietors, are no strangers to the retail scene. With a passion for serving their community and a wealth of experience in the industry, they are poised to take Bargain Booze to new heights. Their commitment to maintaining the store’s legacy while infusing it with fresh ideas and innovation bodes well for its continued success! Ernest Wilson’s Senior Business Agents facilitated the seamless transition, guiding both parties through the intricate process with professionalism and expertise. If you’re considering selling your business, reach out to the team today. Ernest Wilson have eager buyers ready and waiting!

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The Business Centre, Deanhurst Park, Gelderd Road, Gildersome, Leeds, West Yorkshire, LS27 7LG

SPOTLIGHT

GROUP OF THREE CAFE / RESTAURANTS in York for Sale.

An outstanding opportunity to acquire this impressive group of three cafe / restaurants which all enjoy prime positions in the very heart of York City centre, all surrounded by both independent and national high street retailers, shoppers, office workers, visitors and the hundreds of thousands of tourists which visit the city throughout the year. Achieving a very impressive combined annual turnover of £1,671,096 and showing net profits of £308,501 whilst run predominately by staff in easy hours. All of the sites benefit from a premises licence and full restaurant, cafe licence (formally A3/A4) - the scope for even more growth is huge. For example, a new purchaser could introduce an evening bistro in some / all of the three venues and extend the opening hours into the evening to substantially boost turnover and profits (subject to any necessary consents). Our client is only reluctantly offering this business for sale due to their ill health. Cafe One comprises: Spacious open plan ground floor seating area with space for approximately 12 covers with a mix of comfy seating and tables and chairs, counter featuring a two station coffee machine and two refrigerated display counters in the window. Feature staircase to the rear leads to the first floor with space for up to 30 covers. Second floor kitchen and WC. Third floor seating area for a further ten customers. Cafe Two comprises: Ground floor reception area with waiter / coffee station with coffee machine. Further into the ground floor is the customer seating area with seating for circa 20 customers. Kitchen area. First floor seating area for circa 24 customers and waiters station. WC. Second floor seating area for up to 14 customers. Third floor seating area for around 12 customers. Basement storage. Externally is a very large seating area for approximately 32 customers. This store benefits from an air-conditioning system. Cafe Three comprises: Ground floor cafe servery with coffee machine. Seating area offering space for six customers to the front. To the rear is a further seating area for 11 customers plus a further two covers in a side room. First floor commercial kitchen, waiters station and seating area for 12 customers. WC. Second floor seating area for 25 customers. VIEWING OF THESE WONDERFUL ESTABLISHMENTS ARE HIGHLY RECOMMENDED.

Combined annual turnover, in excess of £1.6 million

REF 590451

www.ernest-wilson.co.uk/Business-Details/590451

Group of Three Businesses, Offers Around £690,000

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The Business Centre, Deanhurst Park, Gelderd Road, Gildersome, Leeds, West Yorkshire, LS27 7LG

SPOTLIGHT

CATTERY WITH 64 PENS Gloucestershire.

This immaculate cattery has had substantial sums lavished upon it during our clients tenure and they have created an impressive cattery and a truly stunning private residence which cannot be fully appreciated without arranging an appointment to view. The business is continuing to grow with relatively limited local competition and is ideally situated close to the motorway and major arterial roads yet within a quiet semi-rural location. Open all year round, the business is operated in easy hours and currently licensed for 50 cats but this could easily be increased with the employment of a member of staff. This business has proved itself to be EXCEPTIONALLY PROFITABLE with adjusted net profits in excess of £100,000 on accounts for year ended 2020 and with bookings for 2022 already very impressive, the current year is set to be a bumper year. Entrance leads to delightful lounge / snug area off which is the boiler room with pressurised hot water system and underfloor heating controls. Utility room. Beyond is the particularly impressive and expensively fitted house kitchen with island having a breakfast bar built in, bridge and spacious dining area with oversized, sliding, patio doors leading out to the delightful patio with water feature and garden area beyond. Lounge with patio doors leading out to the opposing side of the patio and also with a modern, living flame gas fire. Master bedroom with French doors leading to the garden and spacious en-suite bathroom with double bath and separate shower. House bathroom. Further reception room which could also be used a further bedroom. First floor: three good sized bedrooms and shower room with WC. Externally, 64 operational pens, 6 holding pens and one isolation pen set in beautiful grounds, public office, kitchen, store rooms and ancillary areas. To the front is extensive parking.

Annual Turnover £131,929 REF 587192.

www.ernest-wilson.co.uk/Business-Details/587192

Business and Property, Offers Around £950,000

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SPOTLIGHT

POST OFFICE Cheshire.

An exciting opportunity to acquire this busy mains Post Office occupying a prime trading position in the heart of this Cheshire shopping mall with its free customer car park. The premises occupy a corner unit within the mall with neighbouring tenants including many blue chip operators such as Costa Coffee, Specsavers and Argos - incredibly high footfall area.

Sensibly priced for quick sale.

The premises are held on a secure lease with reasonable rent for such a prominent trading position, comprising large walk round store at present very underutilised including large refrigerated section - at present, our clients only offer a limited range of stationery and household goods - oozing potential for full convenience store. Three position Post Office retail counter with Bureau de Change. Second retail counter at present not used. Store room, kitchenette and WC.

Annual Post Office Remuneration £60,000

Weekly Retail Turnover £800

REF 590584

www.ernest-wilson.co.uk/Business-Details/590584

Business £89,950

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The Business Centre, Deanhurst Park, Gelderd Road, Gildersome, Leeds, West Yorkshire, LS27 7LG

SPOTLIGHT

CAFE Otley.

An exciting opportunity to acquire this long established cafe which has been owned and operated by our client since 2009 - retirement sale.

The business operates in very easy hours over five days, closing Wednesdays and Sundays with no early mornings, offering tremendous potential for enthusiastic new owners to extend hours and expand the currently limited menu to boost trade. Prime trading position in the heart of this popular West Yorkshire market town. Stone built terraced premises held on secure lease with sensible rent and comprise ground floor cafe seating 12 to 14 in comfort. Servery area with cake display and coffee machine. Kitchen to the rear. First floor provides additional cafe seating a further 18 together with another coffee machine, customer WC and store room. Additional pavement seating to the front of the premises.

Weekly turnover £1,200 to £1,400

REF 589971

www.ernest-wilson.co.uk/Business-Details/589971

Business £29,950

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SPOTLIGHT

CLOSED RESTAURANT AND TAKEAWAY Drighlington, West Yorkshire.

A fabulous opportunity to develop a new restaurant and takeaway business from these ideal premises at the heart of Drighlington. Occuping a prime position on a corner site at the junction of the A58 Whitehall Road and the B6135 King Street, which sees thousands of vehicles passing daily. Our client closed the business due to retirement after the site had traded very successfully as an Oriental restaurant for over 27 years. In our opinion, this would be a very easy business to re-establish and rebuild in the right hands. Whether maintaining the current cuisine or introducing something different, the restaurant’s interior can adapt to various concepts with minimal effort, especially with the spacious commercial kitchen which will easily allow for a wider menu. This wonderful detached building comprises a reception / waiting area with a large bar and seating for around 20 customers with ladies’ and gents’ WCs off. Large dining area for around 55 diners plus a small first floor mezzanine seating area accommodating a further 15 diners. Large waiters’ station. Huge well equipped commercial kitchen serving both the restaurant and takeaway, including a wide array of commercial cookers, equipment, and extraction systems. Food storage / prep rooms and a walk-in fridge / freezer. WC. A separate takeaway entrance allows customers to order and collect their meals. The property also includes a beer / wine cellar. Self-contained two-bedroom apartment, comprising a lounge with an office area to the rear, a kitchen, two bedrooms and a bathroom. Externally, there is a large car park at the front for around 14 vehicles.

REF 590586

www.ernest-wilson.co.uk/Business-Details/590586

Nil Premium

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The Business Centre, Deanhurst Park, Gelderd Road, Gildersome, Leeds, West Yorkshire, LS27 7LG

Leeds 0113 238 2900 | Cambridge 01223 792 508 | Northampton 01604 931 247

Head Office - The Business Centre, Deanhurst Park, Gelderd Road, Gildersome, Leeds, West Yorkshire, LS27 7LG

e : sales@ernest-wilson.co.uk www.ernest-wilson.co.uk

TRIED AND TRUSTED SINCE 1956