Priced To Sell - Modern Asian Cafe Restaurant - Selling For Less Than Fitout Cost - Penrith Area

Business Overview

Located in the heart o Penrith commercial and entertainment precinct. Serves modern and traditional Vietnamese cuisines. There is huge potential in promoting more dine experience

The fit out cost $500k to build, 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 60 seats inside and 20 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

4 x full timers and 2 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 $1950 (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: $149,000 + Stock