Business DescriptionThis is a family owned and operated business established for over 5 years and positioned in the centre of the Gold Coast. Handcrafting traditional style Gelati and Sorbet in house using high quality ingredients. Offering a large range of gluten free, dairy free, and vegan options. This unique, high profit business specialises in manufacturing and direct retailing Italian style gelati and sorbets. The business is open 7 days 11am to 9 pm and has a constant traffic flow of regular customers and holidaymakers.
The business has a very high gross profit margin (83%) due in part to the unique manufacturing to the retail system employed by the business. The total staffing requirement is approx 90 hours per week with the current owner contributes approximately 30 hours per week in total with additional casual staff contributing another 60 hours per week (approx). Some of the casual staff are juniors at approx $13 per hour whilst other staff averages approx $20 per hour. The average weekly wage bill in total for all casuals is approximately $1000 per week with total casual wages for the 2019 financial year coming in at $58,178. The current owner does not draw a wage but receives an annual net return of $265,170.
If you wanted to run this business completely under management this could easily be done as all systems, procedures and ingredients lists are in place. To replace the owners contribution of 30 hours per week would cost approx $600 per week (at $20 per hour) or approx $35,000 per year. This would take the net owners earnings to approx $230,000 but would give you business under full management.