Modern Asian Restaurant In Penrith For Sale - 500k Fit Out - $16,000 P/w Turnover

Located in the heart of Penrith commercial and entertainment precinct. This modern asian restaurant/ takeaway shop is serving 8 types of Asian cuisines. Modern and traditional flavours including Chinese. Thai, Malaysian, Korean, Singaporean. There is huge potential in promoting more dine experience with liquor licence available on premises.

DINE IN 24%
TAKEAWAY 35%
DELIVERY 8%
UBEREATS 33%

The name and brand is not for sale as there are existing stores with the same name. The asking price reflects this exclusion. The fit out cost $500k to build, there is 8 years lease remaining, low rent, great location currently turning over 16k per week. Suitable for a Chef or manager looking to start their own Asian restaurant or an existing Asian restaurant looking to expand.

Premises
. 190m 2 with dine with 48 seats inside and 10 seats outside

Hours of Operation
Monday to Sunday 11.00am to 9.00pm

Potential

• More promotions on Facebook and social media
• Potential for more in house dining to increase the average sale and maximise the liquor licence
Employees

1 x full timer and 6 casual

Lease

10 years lease from November 2021, 8 year remaining, 3% increase per year, 3 months bond

Financials Summary Based on last 12 months Sales
Weekly Takings $16,789
Cost of Goods $5036
Gross Profit $11,753
Rent $1935 (Ex GST, includes outgoings)
Wages $3330 (excludes the owners wages)
Telephone $20
Water $40
Insurance $157
Electricity $418
Misc 1 $2836 (GST, bank fees, uber eats fees)
Total Expense $9,236
Net profit. $3017 (profit for 1 working owner 40 hours p/w)
Estimated Stock Value $1,000
Estimated Equipment Value $250,000
Asking Price: $99,000 + Stock

Reason for sale
The owner looking to retire

The Opportunity
$500k fit out still brand new. Full commercial kitchen with quality European appliances.
2 years established car wash with lots of regular customers, no competition. Low rent. Net profit of $3000 for an owner operator. Suitable for a Chef or a restaurant manager looking to start their own restaurant without all the set up cost. The right operator can increase sales to $20,000 per week. All buyers are subject to landlord approval.