American dessert franchise with 'high footfall' in Coventry city centre up for sale 'reluctantly'
An ice cream and dessert franchise in Coventry has been put on the market. The American multi-national chain Baskin Robbins, located in the city centre, is on sale for £149, 950.
Baskin Robbins originated in America in 1960 when the branch was extended to Coventry in 2022 by the current owners. Now, the business is up for sale 'reluctantly' due to 'unforeseen ill health.'
The property, listed with Veritas Business Sales, is overseen by the owner with a team of two full-time and two part-time members of staff. Since ownership, the premises have been redecorated and refurbished with new equipment, fixtures, and fittings, all bought, paid for, and included in the sale price.
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The current owners believe there is 'huge potential' to increase profit as the business currently operates on a turnkey basis, with the staff opening up and operating the business daily. The franchise shop is covering all costs and making a small profit. However, there is scope to expand on the current opening times and better management of the delivery app to 'increase business significantly.' The current opening times are 3pm to 11pm daily.
The listing adds that the ice cream franchise would benefit from an 'owner-operator' to increase revenue and drive the business. The business is said to have built a 'strong reputation' within the local community with high levels of 'regular and repeat trade'. This is due to being surrounded by other retailers and restaurants on Trinity Street, from McDonald's, Nando's, Sainsbury's and KFC.
The current leasehold is 10 years, with seven and a half years remaining. The rent is £18,500 per year, which is received every 5 years, with business rates at £2,100 per year. The annual turnover for the year ending September 2023 was £170,129, with 70% from walk-in trade and 30% from online deliveries.
For more information about the property, visit the Rightmove website.
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The one-off franchise fee of £35,000 has been paid, and the royalty fees of 2% have been suspended since incorporation for the 'foreseeable' future. The business comes with a sponsor license for up to 2 skilled workers via the immigration route, which will be included in the sale. The sale is a company share sale, and full training will be provided to the new buyer.