Well Established Cafe / Bakery - Run Under Management - Bondi Junction - 50% Price Reduction For Immediate Sale

Bondi Junction, NSW

Food/Hospitality / Bakery, Cafe/Coffee Shop, Takeaway Food
Offers Over $100,000 (by 28 Feb)
Listing ID1764348

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Take away cafe / pasty bakery flagship store at Bondi Junction, selling traditional handmade Cornish and various pasties, coffee, cold drinks and alcohol ( Licensed ).

Location Details
The store occupies a prime location in Bondi Junction in the humming pedestrianised area of Oxford Street, a short walk from both Westfield Bondi Junction and train station.

Potential
The business is ready for expansion and is ripe to be franchised with plans for the central kitchen and chilled/frozen product distribution to additional stores and businesses. The owners have developed a 10-store, 4-year expansion plan, complete with financial modelling.

A purchaser can also grow the catering arm of the business, explore options to move into food trucks and even consider large-scale supply e.g. airline catering.

Skills
Day to day store operations is run under management with current owners managing the back office administration and high-level store supervision.

Hours
Trading 7 days a week
Monday - Saturday: 8:00am - 7:00pm
Sunday: 10:00am - 4:30pm

Lease
Approx. 55 sqm, expiring 28th February 2022 (4 1/2 years); Current base rent is $106,653.33 per annum ($2,051 per week).

Employees
4 x FT Sales Assistants
1 x FT Store Manager
2 x Chefs

Reason for Sale
The owner has health issues.

About the Business
This is an opportunity to purchase an original business - the first bakery-cafe in Australia dedicated to handmade Cornish Pasties. Founded in 2011, the store offers around 20 varieties of sweet and savoury pasties for customers, to eat in, with seating inside and out, or take away.

Key facts about this business:
- An established cafe takeaway/pasty bakery flagship store at Bondi Junction
- Coffee, cold drinks and alcohol license
- Run under management
- Franchise expansion opportunity
- Consistent sales circa $650k
- Licensed outside seating for 20 persons

Hands on new Owner operator required to run business and collect profits of $100,000 PA.

For more information on this exciting opportunity, please contact the undersigned:

Richard Ames
Business Sales Specialist | Business Sales Sydney
Ray White Business Sales, Corporate Business Sales & Acquisitions
M: 0421 490 501 T: 1800 858 696 E: richard.ames@raywhite.com

Or

Mark Levitt
Business Sales Specialist | Business Sales Sydney
Ray White Business Sales, Corporate Business Sales & Acquisitions
M: 0431 004 488 T: 1800 858 696 E: mark.levitt@raywhite.com

For more details complete the contact us form on this page or go to www.rwbs.com.au andcomplete our online confidentiality agreement. Use thereferenceID 1764348 to search for the business.

Disclaimer:
Due to the confidential nature of the sale, images used may be stock images and not representative of the business for sale. Total earnings, EBIT or EBITDA, includes add backs relevant to the current owners. Add backs may include, owners salaries, directors benefits, personal expenses, non recurring expenses, one off expenses, capital costs, depreciation and generally any costs relevant to the current owners.