Small Business Near Toul Sleng Museum for Sale
Currently set up as a small cafe and souvenir shop selling refreshments and products from NGOs and social enterprises. We are located near to Toul Sleng Museum.
The current business:
Fully renovated shop space - New roof and ceiling, fitted sliding entrance door, clean white painted walls, newly laid floor tiles, we filled in the internal back window, installed fitted kitchen/prep space cabinets with marble work tops. Cafe preparation area has been wall tiled, new wiring and other small building work has been done.
The shop and cafe space has been fitted with high quality wooden display cabinets, counters, tables, chairs and stools from Art Wood carpentry. The shop space is fully air-conditioned with an LG 2.5HP inverter air-conditioner. There is also a Samsung inverter refrigerator.
In the rear of the property is an un-renovated large kitchen and 2 small bedrooms/store rooms. (These could do with being cleaned and painted, however as they are currently unused we haven't done this) There are 2 bathrooms.
The monthly rent is $450. 3 months deposit has been paid and is included in the sale price.
I wish to be honest with any potential buyers: the reason we are selling is due to slow takings. I opened here hoping that tourist visitor numbers would be higher with coach loads of tourists.
Although we are not making $1000s a month we are getting some visitor and customers, just not as many as I hoped.
Most months we cover the rent, and other general expenses and salary for one staff member. During the high season we were making perhaps a couple of hundred dollars in gross profit. During these low tourist visitor months we take enough to cover costs. As a new business still in our first year to be breaking even isn't too terrible.
Someone with vision and marketing skills (and patience) could perhaps make the business more successful. Maybe, my concept is wrong, and a new owner could change it into a more profitable business...maybe I am selling too soon...But I have other responsibilities and a son to take care of, plus I don't much like tourists.
If the new owner lived in one of the 2 small bedrooms this place would be a real bargain with potential.
I am willing to sell the shop for $8,500 including the deposit for a quick sale before the end of the rainy season.
(If I don't sell it before the end of the rainy season I may take it off the market for the high season whilst it is busy, or I may increase the price by a few thousand dollars during the high season) It is currently on some classified websites for $12,000.
$8,500 is roughly half of what has been spent on setting it up and I think it is a fair price so I am not going to come down.
Please note: this price does not include the artwork on the walls or on display or the stock of products on the shelfs. (-The artwork has been mine since before I opened here and I would like to keep it. The majority of the stock is on consignment contracts in my name [which the new buyer could negotiate with the producers if they wanted]
The nice landlady may supply a new 3 year contract or new owner could take over my current contract with just over 2 years remaining. I will talk to her when I find a buyer, we get on well and she is an honest landlord.
This price is FIXED AND FIRM AND NON-NEGOTIABLE. Rough books and some receipts are available. Also I am not desperate for the cash as I have other income streams and if I need to I could run this place with a manager whilst I work on other things, I have no intention of leaving Cambodia.
I could sell everything on the web piece by piece and make a similar amount to what I am asking...it would be easier to sell it all as a business. I could ask for a couple thousand more now and sit it out and find a buyer eventually...hole in the wall bars on back streets fitted out with plastic furniture go for more than this.
However, I would like to concentrate on other things and my family.
Possibly, there is someone who would like to take over this space (that is close to Toul Sleng: a place that that 95% of visitors to Phnom Penh will visit) at this very cheap price?
This location would also be good for a social business, and preference would be given to something like that.
Please email [email protected] for more information...only serious enquires please. I won't be answering questions on this thread (at least I'll try not to) and I would prefer the name of the business to be kept off it too. If you're really interested in this opportunity email me.
(And I'm still under admin protection so be nice )