Migrants Are Set to Drive Economic Growth in Sydney During 2023. Is Now the Time to Invest and Buy a Business?
Migrants are set to drive economic growth in Sydney during 2023. Is now the time to invest and buy a business?
The pandemic is now firmly positioned in the rear view mirror of most Australians minds and plans as we enter 2023. Immigration was heavily affected with lockdowns and border restrictions, but thankfully recent data is showing us that migration is set to boom in the coming years, across the country and particuarly in Sydney. This influx of migrants making their way to Sydney will likely drive a significant economic boost to the local economy and now may be the time to buy a business in Sydney if you have been considering it for some time now.
Across the Sydney region, business confidence appears to be bouncing back. The City of Sydney's yearly business survey has shown that while some businesses did take a hit during the pandemic, many have been able to shift and pivot with the times and are seeing increased staffing and expect their financial position to be in a far better position in the next 12 months. One of the reasons for this positive shift is the return of students, tourists and migrants.
Historically speaking, migration has always boosted the Australian economy. Migrants have provided a skilled workers boost, facilitated further learning and also strengthened our relationships with foreign countries. The Jobs and Skills Summit which was held in September of 2022 saw the government promise an increase in the permanent Migration Program ceiling to 195,000 in 2022-23 to help ease widespread, critical workforce shortages as well as extending visas and relaxing work restrictions on international students to strengthen the pipeline of skilled labour.
Sydney has always appealed to our international visitors due to the size of the population and the opportunities available to individuals with skills and trades.
Now may be the time to buy a hospitality business in Sydney. Here are 6 new restaurants and cafes listed for sale in Sydney on Bsale right now.
1. No.1 Restaurant And Bar In Randwick
Price: $450,000 + SAV
The restaurant every suburb wishes it had – delicious food, professional service & great value. This Restaurant & Bar enjoys a visible corner location in an ever increasing popular precinct. and has a contemporary menu for an eclectic mix of customers – many are regulars but many also travel great distances for the food and service and value.
- Established more than 5 years ago
- Restaurant trades: Lunch: Thursday – Sunday; Dinner: Wednesday - Saturday
- Fully equipped and easily operating
- Rent represents approximately 8% of turnover – lease till 2036
- Business offers an excellent work/life balance.
- A professional front of house team together with a Chef lead kitchen brigade.
- Current owners willing to train new owners and continue in an advisory role – if required.
2. Highly Sought After Cafe In The Northern Beaches
Price: $178,000 + SAV
This beachside corner cafe has been priced at $178,000 + SAV, currently selling approx. 30 kg kilos of coffee p.w. Well known for its delicious and healthy breakfasts and lunch including acai bowls, pastries, wraps, salads, smoothies and exceptional coffee prepared daily with fresh local ingredients.
- Current sales $11,000- $13,000 p.w.
- New 8-year Lease June 2022- May 2026 + 4-year option
- 6 days trade Mon - Fri - 6 am - 2.30 pm and Sat 7 am - 2 pm
- Rent $930 p.w. inc. GST plus Outgoings (Currently 2 Months BG and 4% yearly increases)
- Excellent google and online reviews, caters for vegetarians, vegans and gluten free options
- Semi Under Management
- Well established in the area in Dec 2018 with a loyal and strong local trade as well as very popular with tourists
3. Charcoal Chicken in Eastern Suburbs
Well known and delicious Charcoal Chicken business, perfectly situated in popular strip in the Eastern Suburbs. Whilst the shop prides itself on its reputation for perfectly cooked and flavoured, succulent and tender Charcoal Chicken, their tasty burgers, salads, wraps and other alternative meals are just as good and popular.
- Established for 3 years in this location and enjoys a very regular and loyal clientelle
- Long lease in place, with 2 years remaining on existing lease plus an addtional 2 x 5yr + 5yr options to extend
- Excellent staff in place who know the business well, great systems, and easy, simple business to run
4. Iconic Waterside Cafe in Sans Souci
Price: Contact Agent
This could be the perfect opportunity for a passionate barista, pastry chef or energetic individual to take the plunge to be their own boss. This is an waterside established bakery/patisserie located in Sans Souci NSW. It’s a beautiful cafe with floor to ceiling glass frontage that really glams up the immediate area.
- Shop front faces a beautiful beach.
- High Google review
- Heavy food traffic ,located in the most busy food corner in Sans Souci beach.
- Fully under-management
- Stable income , over 20kg coffee beans sold weekly,approx. $13K -$15k sales revenue per week.
- Excellent fit out, good dinning atmosphere
- Training & full suppliers list will be provided as part of the sale.
- Very competitive Rent, Approx $1,300 per week
5. Cake Shop For Sale
Price: $350,000 + SAV
First time on the market after 47 years of successful operation, the owners are now looking to retire, presenting this fantastic opportunity to purchase a unique business. Excellent inner west location with regular clientele, high food traffic and visibility large premises with modern recent fitout.
- Turnover $1,500,000 per annum with potential for a lot more.
- On site training will be provided, to ensure a smooth hand over
- Long lease available with reasonable rent price $350,000+stock -Price negotiable for quick sale!
- All plant and equipment including inside
6. Vegetarian Indian Restaurant In Bella Vista
One of the various vegetarian restaurants, as well as popular South Indian restaurant in New South Wales. The best place to unwind with family and friends. It is in a prominent location, has plenty of parking, and is large enough to host small events.
- Completely fitted out for a proper fine in restaurant
- Located in a prominent area
- One of the very few vegetarian restaurants and the only South Indian restaurant in the area.
- Ample parking and large enough to host small events such as birthday parties.
- With a 55-seating capacity
- Weekly turnover $17k average,$2k weekly rent incl GST and outgoings
- Lease expires December 2023 with 5 years renewal option,133 sqm.
- Well fitted kitchen
About the author
Catherine enjoys generating articles that highlight some of the opportunities that are now available for purchase on Bsale. She hails from a family of ...