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Cost of Entry

Item Estimated Cost £ Your Est.Cost Notes
Purchase of the tenancy or lease and goodwill (in the case of an assignment only) 1,500-200,000   This is a premium/letting fee covering internal costs at Fuller's charged on every house.
Fixtures and Fittings (F&F) 3,000-50,000   An inventory needs to be produced and F&F valued. The purchase of F&F may have tax implications. Speak to your accountant for more information.
Valuer's fees 700-1,500   You may need to get a professional valuation for the F&F.
Ingoing Wet & Dry stock 2,500-6,000   Valued at changeover by an independent stocktaker.
Till rolls and cleaning materials 100-200   These may be valued within the stock figure
Glassware 500-1,200   Normally valued by the broker and paid for separately.
Cost of stock take 100-200   May be a 50% payment if cost shared.
Rent in advance 500-5,000   You will be asked for one weeks rent in advance.
Till floats and change drawer 800-1000   2-3 tills change.
Fruit machine floats 200-300   2-3 machines @ £100 each if applicable
Insurance premiums (F&F, stock, public & employer's liability) 250-750   Cost of annual premium.
Buildings insurance 250-1,000   Cost of annual premium and invoiced by Fuller's via the rent statement quarterly in advance (lease assignments only).
Solicitor's or broker' s fees/licensing 3,000-5,500   Should cover all legal fees, including Fuller's legal costs.
General working capital 5,000-10,000   This will cover those unforeseen costs such as rentals on equipment or breakdowns just after you take over.
Rent Deposit 8,000   This will be held on deposit and returned to you at the end of your agreement less any outstanding debts to Fuller's.
TOTAL      

N.B. V.A.T. will be payable on certain items.
You should always consult an accountant or other financial advisor to ascertain your own personal financial requirements.

This page was printed from the website of Fuller, Smith & Turner P.L.C at http://www.fullers.co.uk/