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Location : Centre of Town Toulon
Name : English Institute Toulon
Price : OIRO 150,000 €
The business has operated in the same rented premises since 1990. The premises comprise 5 training rooms, teachers library, computer room, reception, kitchen, 2 WCs and various storage areas. In all about 170 square meters.
It is on the second floor of a traditional French Hausmann style building with a lift, right in the middle of the town between two main carparks.
We teach 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 3 self-employed teachers and a full-time office manager/PA. This team is exceptionally strong and stable, and we would recommend for them to be retained. In any case, the teachers will need a minimum of 4 months’ notice for changes.
The business turns over, on average, 200,000 euros per annum. Detailed information can be found on https://www.infogreffe.com/ for accounts filed financial year 2015, 2016 and 2017. Accounts for 2018 are yet to be uploaded but should be available soon. The owners’ remuneration is around 20-25% of turnover. Much is dependent on how much teaching the owners do and this figure is therefore flexible within these parameters. We have a no bad debts because all our sales are made directly with companies or with the government or fees are paid in advance.
The lease is around 5,000 € per quarter and is renewable every nine years with interim rent reviews/change of contract opportunities every three years. However, within the 9 years the rent is controlled according to French law and must stay within the given parameters based on inflation indices. The next lease renewal is in June 2020. There is some very useful information here about French commercial leases https://www.notaires.fr/en/business/managing-your-professionnal-assets/commercial-lease.
The owners who have run the school for the last ten years, increasing the turnover in that time by over 30%, are looking to retire but will be staying in France in the same region near the school and will be available for an extensive handover and for ongoing support.
The main competition in the town is from Wall Street English. Our methods are very different since theirs relies on a good deal of personal time on the computer. Our method is a more classic face to face method.
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 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 a very good resource for all things expat is:
Property prices in Toulon are very reasonable in comparison with some of the other areas along the South coast. See https://www.seloger.com/immobilier/tout/immo-toulon-83/
9 year lease renewable. Next lease renew date 2020.
170 sq meters, 2nd floor with lift. Large reception, 5 training rooms, 1 library, 1 computer room, 2 WCs, kitchen. Storage areas
Group evening courses. Children's courses particularly during school holidays. English for Special purposes courses. Homestay courses partnerships in the UK.
Wall Street English. Franchised English language learning business which mostly uses training by interactive e-learning.
8.30 am to 7pm
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