Business DescriptionThis longest-standing, renowned cafe is positioned in one of Newcastle’s busiest suburbs, Mayfield.
Seating 45 people in charismatic décor, it is opened 7 days per week and offers sit down or takeaway homemade and traditional breakfasts, lunches and gourmet snacks. It also serves quality coffee, currently turning over 15-20kg per week!
Established for decades, there is nothing to spend. The business can be operated by a single owner, a couple, or it can also be run under management.
The current owner has further developed the loyal clientele base, retaining and building regular trade, as well as capturing and catering to the very busy passing traffic on the main arterial road. The immediate and surrounding suburbs are experiencing tremendous growth and development, with a plethora of residential and commercial construction projects underway.
Word of mouth referrals and numerous online reviews positively reflect the hard work, dedicated customer service, attention to detail and the quality of the menu that the business offers. There is still ample room for advancement with regards to menu additions for certain diets, online marketing and website implementation and a review of suppliers and terms.
The premise offers convenient and free street parking to its patrons and adjoins another of Newcastle’s areas historical businesses.
There is a secure lease until 2024 with options to extend. Current rent approximately 7% of turnover.
The Adjusted Net Profit to the working owner for EOFY2019 is approximately $150,000, which represents well over a 100% return on the business asking price. Stock at cost, estimated at $5000.
The current owner is selling due to illness in the family.
If you are interested in finding out more about this quality opportunity, please follow the link below. Alternatively, contact 1300BROKER, or Paul Duffy on 0403 084 438.