Summary
Fancy owning a successful internationally awarded boutiqe bistro close to Melbourne's CBD currently returning a fantastic 20+% on normalised trading to the present owners. Wow!
Location Details
This internationally well known restaurant is around 500m outside Melbourne CBD on a main road / tram route and opposite one of Melbourne's most beautiful parks with excellent 24 hour exposure. It is seen by thousands of people each day!
Potential
HOW ABOUT A FUTURE GROWTH POTENTIAL? Currently open just 30 hours a week over 5 nights and 2 lunches with Sunday and Monday closed. Currently turning away some 50 people a week. The current owners [22 years no less] prefer to operate short hours with no table turnovers, travel overseas for around 6 weeks a year whilst enjoying golf, archery and pickle ball. More services, double sittings and external catering all offer huge opportunities to double nett income immediately.
Skills
We run a business which happens to be a restaurant. Just a chef and one front of house makes this work.
Hours
Tues- Sat dinner, Fri-Sat luncheon, 30 hours a week. 46 weeks a year allowing for O/S travel, golf, archery, etc.
Lease
circa 8 years
Employees
2 only - Chef & FOH [hands on manager]
Reason for Sale
After 22 years of trading we need to move on so we are selling our very successful internationally recognised and awarded boutique bistro.
About the Business
SELLING: Basically we are selling a low risk rock solid realisable asset that is profitable, has significant expansion possibilities and fosters a lifestyle few in this industry can match. Absolute key is the fact that there are only the 2 of us who run the restaurant with NO other staff. No staff headaches! Of course, the other option is to staff the bistro and enjoy a return on investment of circa 20+% hands off.
Enjoy an established concept and a very loyal repeat customer base with an immediate positive cash flow on the first day of ownership. Low overheads, license for 39 inside and out, a good lease and zero debt all combine to make this a low risk venture along with a massive financial opportunity to expand or even franchise.
The reason we have been there for 22 years is that we firstly like mucking about in restaurants and secondly we have engineered a fantastic lifestyle opening just 30 hours a week over about 46 weeks a year. The rest of the time we travel all over the planet whilst attempting golf [fail], archery and pickle ball. This ‘lifestyle’ combined with the challenges of running a business is why we have been here for so long. But at 77 more golf is a required therapy.
VALUATION. Our very well known boutique bistro has been valued by ‘COMMBANK’ using their preferred methodology being ‘capitalised future earnings’. You could buy a franchise for circa $750k or a cheap failing restaurant with unassailable ‘bad will’ both with massive risk or, our low risk successful restaurant just waiting to be taken to the next level.
History
A SECURE LOW RISK INVESTMENT AND LIFESTYLE PROVEN OVER 22 YEARS
Currently, just the two of us have operated our successful high visibility internationally awarded boutique ‘European’ bistro for over 22 years enjoying a fantastic work / life balance opening just 30 hours a week for around 46 weeks a year.
This is an investors dream returning around 25% fully managed where Superannuation may return 8% if you are lucky or get less than 5% return from a bank.
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