Business For Sale - Highly Profitable And Rapidly Growing Restaurant

Sydney, NSW

Food/Hospitality / Restaurant, Cafe/Coffee Shop Retail / Food/Beverage
$600,000
Listing ID1688851

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Established by the current owners in 2014, the business offers a la carte and buffet options. It also offers live entertainment and accommodates large functions.

Location:
The business is situated on the first floor of a suburban plaza along a main arterial road on the North Shore. There is ample free parking available. Refitted in 2014, with 320 sqm of floor space, it can accommodate up to 180 patrons.

Potential:
This business has enormous growth potential:
- Trading can be expanded from 3 days (currently) a week to 7.
- Apply for a liquor license and dramatically increase the revenue per table
- Local Area Marketing including paid social media adverts
- Expand the website to include ordering and paying for Takeaway sales from the buffet.


Skills:
No prior experience is required! Rarely does an opportunity like this come on the market where both the landlord and the vendor do not require prior restaurant experience. The current owners are prepared to train the new owners. There is a great core team of staff who understand the daily operation of the business. The new owners can take a hands-on approach or if you chose you can manage the business from a distance.

Hours:
Friday to Saturday 12.30-4pm and 6.30 to 12 am
Sundays 12.30-4pm and 6.30 to 10.30pm

Lease:
Current lease expires on 31st Jan 2019. There is a 5+5 year option available.

Employees:
One P/T owner and 2 F/T chefs. There is 1 F/T & 2 P/T waitresses and 1 F/T & 3 P/T Kitchen hand/cleaners.

The reason for Sale:
The owner is wanting to semi-retire and spend more time travelling the world.

About the Business:
This business is poised for rapid growth. It has been meticulously built up over the last 3 years by the current owners. It is easy to run as all the systems, menus and social media websites are in place. The a la carte menu consists of entrees, meat dishes, seafood, stews, kebabs, salads, and desserts. The buffet includes a selection of more than 30 dishes and is offered at a set price of $45 per person ($55 per person if live music and entertainment are included). There is a full commercial kitchen and a walk-in fridge.

The Key Strengths Include:
- Included assets valued at $250k
- Great location and an enormous floor space/ new fit out
- Good brand awareness - 1500+ customers follow it on Instagram
- Easy to run with a well-trained team
- No experience required
- Turnover of $750k with a Net Profit of $210k

For Further Details please contact the Agent at Ray White Business Sales CBD directly on 0412 070 965 - Robbert van den Bogaardt


Disclaimer:
Due to the confidential nature of the sale, images used are 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.