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Well Established and Popular Restaurant and Bar - Long Lease and Huge Online Presence

$279,000

  • ID Ref 4223
  • Suburb Maroubra
  • State NSW
  • Status For Sale
  • Well Established and Popular Restaurant and Bar - Long Lease and Huge Online Presence

Business Description

rare opportunity to take ownership of this first-time on the market, food lovers paradise. The business comes fully renovated with literally nothing left to spend, this stand-out business is popular with walk-in, take-away and home diners alike. This business has hundreds of positive reviews for its service and menu offering which ranges from Pork Ribs to Pizzas and Paella. The business has a long-term lease to ensure that the new owner-operator thrives for many years to come. This business is currently run mostly under-management.

Turnover
$1 Million - $1.1 Million p.a. (Approximate)

Cost of Sales
$300,000 p.a. (Approximate)

Rent
$85,090 pa which includes outgoings

Wages
$4,500 to $5,000 approximate range per week (manager's wages excluded)

Net Profit
$4,0000 to $5,000 range per week ( approximate assuming manager's wages added back)

Key Features

- Established for almost 10 years and recently renovated with one of the best leases a business owner can hope for
- Run mostly under management with the owner providing limited supervision.
- Very popular brand name within the local and surrounding regions and through online food delivery apps
- Large customer base and solid turnover with plenty more upside for an enthusiastic owner operator/s

Reason For Sale

2 founding owners both of whom have full-time day jobs and are looking to free up more time to focus on both personal and career commitments.

Location Details

Business is situated on the main road of a densely populated and booming suburb that is ideal for a place like this. There is virtually no direct competition in the area. Street and council parking (across the street) is also ample within the vicinity of the shop which makes life easy for their constant flow of eat-in diners.

Potential

- Business is about to acquire an alcohol service license which is expected to dramatically increase takings. Beers and wine are a perfect fit with their menu offering.
- Untapped in-house function and catering opportunities to leverage off their awesome online reviews and well-known presence in the area and surrounding suburbs
- Business not trading on weekdays and can be run as a cafe/juice bar given the location.

Current Trading Hours

Monday to Thursday 5 pm-10 pm
Friday 5 pm - 12 am
Saturday 12 pm- 12 am
Sunday 12 pm - 10 pm

Lease
Well above average lease with current lease term to May 2022 + 2 x 5-year options. CPI% Rental Increases. 3-month bank guarantee.

Employees
2 owners p/t + 2 f/t staff and 5 casuals on rotating roster (available for review to purchasers).

Michael Short
Biz Transfer

Business Features / Snapshot

Your Business Broker

Michael Short

Business Location

Maroubra, New South Wales 2035