'Delightful' Coventry sandwich shop goes on sale as long-time owners prepare to retire

[dutchman]

The shop in Alderman's Green Road has been around for years



The future of a popular Coventry sandwich shop is in doubt after the owners announced their plans to retire. New managers are being sought to take over the lease of Maddy's in Alderman's Green Road which has been in business for more than 22 years.

The shop has been 'in the careful hands' of its current managers for the past ten years, but they have now called time on their tenure. "The business is now being offered for sale so that they can enjoy a well deserved retirement," the listing on BusinessesforSale.com says.

"Since ownership they have made continual investment in new equipment, along with all fixtures and fittings which are all bought and paid for and included within the sale price. This is a huge plus for any new purchaser as additional funds will not need to be spent for some time."

The asking price for Maddy's, which is exempt of business rates, is £69,950. Ten years remain on the 12-year lease term with the rent set at £3,673.68 per annum, working out at just over £300 a month. Included within the sale are two vending machine contracts.

Marketed by Veritas Business Sales, the shop is billed as 'profitable and an ideal husband and wife business'. It is owner operated with the help of two part-time members of staff. Maddy's posted a turnover of £219,291 with a gross profit of £88,292 (40%) for the financial year ending March 31, 2023.

According to the listing, the shop serves 'a fine range of breakfast sandwiches, breakfast trays, cold sandwiches, batches, wraps, baguettes, panini’s, salads boxes, jacket potatoes, burgers, home cured bacon, coffees, teas, and soft drinks'. "We believe that there is a potential to increase trade, should you wish to extending the current opening times, building the outside catering & buffets and by joining the online deliver portals such as Just Eat & Deliveroo," BusinessesForSale.com says.

"The business enjoys a strong reputation within the local community and beyond, and as such, has a high level of regular and repeat trade along with plenty of passing trade. This is a superb opportunity to purchase an established business with plenty of potential which is a great base to build upon and as such early viewing is highly recommended."