Licensed Restaurant/bar In Elsternwick, $1mil Turnover, Fully Under Management

Business For Sale Elsternwick, Victoria 3185

Business Category Alcohol Liquor Shop Cafe and Coffee Shop Restaurant

$290,000

Description

Licensed Restaurant/bar In Elsternwick, $1mil Turnover, Fully Under Management

A well established restaurant with professional fit out and decoration, located in a high foot traffic spot in suburb of Elsternwick (bayside)

- Established and curated by a highly experienced head chef

- This prestigious and modern restaurant was fully renovated in 2018 - owner spent about $300k in new fit-out & design only!

- Including a full Commercial Kitchen with all required equipment, and Approx. 120 seats (inc. dining area, out-front and rear separate function room)

- Currently trading 6 nights a week and very short hours, as a fine-dining Italian Restaurant

- Running 100% under management with the passive owner who is not present during trading hours, but manages the accounts and monitors the overall performance

- 16 years of Lease in place with very low rent for this size and location!!

- Annual Turnover in 2019: over $1,000,000 (average of $20k p/w)

- Latest Update: It took a week for this business to get back to the normal and very steady sales figure again after the final lockdowns in VIC! This shows the the stability and popularity of this restaurant in this area!


A GREAT OPPORTUNITY FOR:

1- Investors who look for an auto-pilot business to generate extra income for them without their physical involvement

2- for an owner operator, who can have presence at the business and have hands on daily operation. This will surely take this business to the next level of profitability when the owner operator monitorss the staff efficiency, stock and wastage management, and improvement of the customer relationship, plus will save a manager's wage!!


POTENTIALS:

- New owner can extend the trade to 7 days, or add the lunch hours, or late bar to the business hours

- Business can also be converted (with no extra cost) to a casual-dining restaurant, eg. Italian, Pizza & Drink Bar, Greek, Asian, Indian, or other types of cuisines.

- This restaurant with it's amazing location and set-up has also got the potential and ability to be converted to a local Breakfast-Lunch Cafe!


Selling due to owner's retirement
Asking Price: $290,000 (owner will consider reasonable offers)



CONTACT "SAM" FOR MORE INFORMATION ON THIS UNIQUE OPPORTUNITY.

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Contact Seller
Sam Vasli

Bsale ID: 565492
Broker REF: 6747835

The Finn Group
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