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Retail business for sale in Hastings

  • Retail
  • 56 High St Hastings VIC 3915
  • $99,000 (GST na)

Dream Opportunity For Quick Buyer In Hastings Successful Newsagency For ...

Huge Reduction in Price - Vendor Keen to Sell

Established Main Street Newsagency
Bargain price of $99,000
Over $100,000 in stock included in price
377 square metres for only $5,500 in rent
Lifestyle opportunity on Mornington Peninsula

If youve ever dreamed of owning and operating a newsagency but thought you couldnt afford it then its time to think again. After 2 years building up the Hastings Main Street newsXpress agency into a diverse and successful business, the current owners are reluctantly moving back to rural Victoria to be with their wider family. The business is being sold at cost and includes $107,000 of stock and several thousand dollars of plant and equipment, including four computers, extensive cabinets, shelving, kitchen facilities and six portable shelving units (worth $3,000 each).

Due to its affordable housing and work opportunities Hastings is going through a growth phase and business potential is expanding. The current owners have developed this 377 square metre space with rear access into a thriving hub for the local community and have diversified its product range to emphasise high margin giftware, school and office supplies, greeting cards (it has the widest range and number of greeting cards on the Mornington Peninsula), childrens books and toys in addition to the usual range of newspapers and magazines. There is potential to expand further into theatre booking and related services.

Operating from 7 am 5:30 pm Monday to Friday (7 am 1pm Saturday and 7:30 am 12 pm Sunday) it offers an enthusiastic couple or sole owner the opportunity to build on an interesting and exciting business, while enjoying all the benefits of living on the Mornington Peninsula, including beaches, rural lifestyle, wineries, spas and other tourist attractions. The business can be run in a lean fashion by one person with an extra person at busy times (one owner and two part-time casuals at the moment). Other features of the premises include air conditioning throughout, rear entrance, separate office, storeroom and side access through the shop to toilets. Security during the day and after hours is assured through 13 cameras, which can be monitored by mobile phone or on a computer screen.

As the main town newsagency, competition is limited and customer loyalty is strong. The business benefits from its association with the newsXpress group who provide discounted purchasing, regular support, training and business advice as well as advertising and branding for a monthly fee of $375. The business is not a franchise, however, and the owners are able to make their own decisions of how to operate and what to stock. New owners can decide whether or not they wish to remain within the current buying group. Rent is a reasonable $5,500 (from March 2019) plus outgoings and Body Corporate. The owners have one year left on an initial 3 year lease (renewal 23/03/2020) with another 2 x 3 year options. Annual increases are set at 2.5%. The business is profitable with a turnover in excess of half a million dollars and a healthy net profit.

All plant and equipment and stock is offered with the business plus a training and assistance period prior to settlement. The owners are looking to settle quickly due to family commitments and will look favourably on any reasonable offers. But be quick newsagent businesses do not come up regularly and at this discounted price business goodwill is effectively being provided at no charge. So if you are ready to take up this exciting opportunity call Alan Maguire now for more information and make a time for an inspection and a chance to discuss the business with the owner.

Price: $99,000 including all stock, goodwill and plant and equipment

For enquiries and an inspection, with an opportunity to speak to the owners, please contact Alan Maguire, Maguires Real Estate, Mornington (0418 377 038).

Business Highlights

Business ID2015316735
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Last updated  30 May 2019
Map for 56 High St Hastings VIC 3915
Maguires Real Estate
9 Alfred Street Mornington VIC 3931

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