Central Coast Erina Restaurant/bar Low Rent, Under Management, 5 Day, $24k/week

Business For Sale Erina, New South Wales 2250

Business Category Cafe and Coffee Shop Takeaway Food

$499,000 + SAV

Description

Central Coast Erina Restaurant/bar Low Rent, Under Management, 5 Day, $24k/week

This profitable Erina Restaurant/Bar is a local destination and is ideally positioned within a popular and bustling hospitality and retail precinct. This business has excellent passing traffic, easy at-the-door parking and is easily accessible. This business is well known in the area (bookings are weeks in advance) and is run under management so it is perfectly set up for a continued successful operation. Ideal time to capitalise on the post lockdown resurgence and upcoming festive period.

Fully licensed with an inviting and popular offering. Operating 5 days a week for lunch and dinner only (Wednesday-Sunday). A very low rent and 7 years remaining on the lease make this a desirable business. Average weekly sales for FY21 was $24.4k!

The Restaurant/Bar has a full commercial kitchen with a grease trap and exhaust system. The indoor dining area has approximately 50 seats, with a further 40 on-premise outdoor seating.

The lunch and dinner menu delivers a food offering ideal for family dining and is in line with its identity. Fully licensed with a good selection of wines, beers, spirits and cocktails.

A very attractive business with a loyal following. With a high turnover, low rent and run completely under management, this business is sure to appeal to many.

This restaurant/bar operation is run expertly under management but still has room to grow with extending the operating hours and the number of nights open. Further profitability can be obtained from the reduction in product purchases. For those that wish to open for breakfasts, the option is available. Addition of delivery apps and increasing the emphasis on catering and functions will improve the turnover.

**Please note that for confidentiality the image in this advert is generic and is not of the actual business**

Lease
The Lease commenced on October 1, 2018 and expires on September 30, 2023.
A 5 year option is available (taking the overall lease to September 30, 2028)
CPI or 2.5% (whichever is greater) rental increases annually.
Market Review at Option (2023).
A four-month bond is required.

Trading Hours
5 days a week Lunch & Dinner
Monday – Tuesday: Closed
Wednesday – Thursday: 12noon – 9pm
Friday – Sunday: 12noon – 10pm
Closed most Public Holidays

Staff
The business is currently run under management with the following staff:
1 x Full Head Chef
1 x Full Apprentice Chef
1 x Part Time Bar Manager
2 x Casual Cooks
1 x Casual Kitchen Hand
2 x Casual Floor Staff
1 x Casual Bar Staff

Premises
The business has approximately 168m2 of lettable area. The inside dining area has space for approximately 50 seats with 10 bar seats. The external common area can seat approximately 40 people. There is a full commercial kitchen with exhaust and grease trap. Large and well set up bar. Off-site dry storage space at rear of premises. Over 100 car parking spaces at front of business.

Opportunity
This restaurant/bar operation is run expertly under management but still has room to grow with extending the operating hours and the number of nights open. Further profitability can be obtained from the reduction in product purchases. For those that wish to open for breakfasts, the option is available. Addition of delivery apps and increasing the emphasis on catering and functions will improve the turnover.

**Weekly**
Coffee Sales 10kg
Weekly Sales $24,431
Cost of Goods $8,695
Rent $1,176
Wages $4,568
Total Expenses $7,262
Net Profit $6,253
Stock (extra) $9,000
Contact Seller

Bsale ID: 561968

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