It is on the second floor of a traditional French Hausmann style building with a lift, right in the middle of Toulon with five training rooms, computer room, reception, library, kitchen etc. In all about 170m2.
Peter explains, “The English Institute teaches English to French adults and older teenagers. The lessons are mainly on an individual, one to one basis although we do teach some groups of people within the same company. Around 50% of our business comes from businesses in the area for their employees. The other 50% is from individuals doing their Continuing Professional Development (CPD) training. In France there is now a system where employees have a personal budget to use for CPD and they can use it how they want. English is very much key for all CPD so it is a popular use of these budgets.
“We have 4 self-employed teachers and a full-time office manager/PA. The business turns over, on average, €200,000 per annum. The owners’ net remuneration is around 20-30% of turnover. Much is dependent on how much teaching the owners do and this figure is therefore flexible. The lease is around 5,000 € per quarter and is renewable every nine years. The next lease renewal is in June 2020.
“We will be staying in the area and will be available for an extensive handover (3-6 months) and for ongoing support.”
Tracey details the purchaser profile: “The figures given above assume that the owners do some teaching, it would be highly beneficial therefore to have experience in teaching English as a second language (TESL, CELTA), to have general business background and to speak French. The office manager is French and is practically autonomous but will need day to day guidance on business decisions. She speaks a strong intermediate level of English and most of the teachers are bi-lingual - all are native English speakers.
“We understand that with BREXIT on the horizon British people interested in this opportunity will have a number of questions regarding the feasibility of living and running a business in France. This is something potential purchasers should inform themselves of, however Connexion is an excellent information source regarding all things BREXIT.
“Property prices in Toulon are very reasonable in comparison with some of the other areas along the south coast, see Le Bon Coin or SeLoger.com websites.”
If you are interested, in the first instance please contact Peter and Tracey with a landline telephone number and they will call you to discuss further and answer any initial questions you may have. They require offers in the region of €150,000.