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Exciting Opportunity to purchase Fig & Frankies in Broadbeach
Summary
Only $195K WIWO
Revenue
$10,987 pw
Rent
$1,329 pw
Hours
Tuesday - Friday: 5 PM - 11 PM
Saturday - Sunday: 1 PM - 12 AM
Employees
2 x salaried full times staff
2 x casuals
About the Business
An unmissable opportunity to secure a thriving laneway bar & restaurant in Broadbeach now available for just $195K WIWO!
Previously offered at $350K WIWO for both venues, the price has been slashed by over $100K due to the owner's inability to give the business the attention it deserves, following major changes to his work commitments.
For buyers seeking even greater potential, the second fully fitted venue can be included for just an additional $50K, providing a rare opportunity to acquire two hospitality spaces in a premium location.
About the Business:
This is a highly regarded, stylish restaurant & laneway bar, located just 500m from the beach & moments from Broadbeach's bustling dining & nightlife precinct.
Average weekly sales of $10,987 (2024 figures) w/ a strong, even food & beverage split.
Beautiful fit-out featuring white concrete benchtops, timber accents, & terracotta-rendered walls.
Seats up to 70 patrons, indoor & outdoor.
Fully licensed, w/ a strong reputation for artisan cocktails & signature dishes.
Minimal marketing currently huge upside for a hands-on operator.
Managed w/ just two salaried staff & two casuals, ensuring a lean & efficient operation.
Flexible month-to-month lease in place, w/ a supportive landlord open to negotiating new terms.
Who Should Enquire:
Ideal for an experienced owner-operator who understands how to assess profitability based on top-line figures.
Not suitable for buyers seeking full profit & loss statements or requiring finance to complete the purchase.
Lease Details
Currently month by month however landlord happy to sign a new lease. Potential to negotiate new terms. 2 separate leases, take one or both. Site 1 $1329 p/w inc GST Site 2 $745 p/w inc GST
Premises Details
Site 1 - 40m2 internal and 40m2 external indoor seating for 26 customers
Opportunity
Extend Trading Hours: Currently operating Tuesday to Friday from 5 PM and Saturdays from 1 PM. Opening seven days a week or offering breakfast or lunch could significantly boost revenue.
Implement Marketing & Social Media: Minimal marketing efforts are in placea strong online presence and digital advertising strategy could greatly enhance visibility.
Leverage Second Venue Potential: Reopening the second venue offers the chance to diversify revenue streams and increase market share within Broadbeach's vibrant hospitality scene.
Introduce Delivery Services: Adding services like Uber Eats could further increase sales and reach a broader customer base.
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