Summary
Cute suburban cafe/bar for sale. Local gem with strong client base and steady growth, more forecast with new liqour license.
Revenue
$211,410 pa
Rent
$25,200 pa
Expenses
$151,372 pa
Net Profit
$34,838 pa
Location Details
105 Skene Street, Shop 1
Situated in a well established, high earning and desnely popuated neighbourhood. Close to several schools, with high traffic at drop off and pick up times. Ample street parking available.
Potential
Currently averaging 15% growth a month with the new liqour license giving potential for more. The perfect location to fill the need for a local bar/restaurant the locals are hungry for.
Skills
Strong knowledge of espresso coffee is a must.
Hours
Currently operating Tuesday-Saturday 8am-2:30pm, Sunday 8am-1pm, Friday-Saturday 6pm-late.
Lease
Leased until 24/11/2024 with option for another 5 year term.
Employees
Currently owner operated with 4 regular employees.
Reason for Sale
After suriving and growing through COVID and achieving the goals that were set on taking ownership in Jan 2019, career goals moving forwards have changed which has led to the decision to sell.
About the Business
A local suburban cafe providing sit down and grab and go food, coffee and alcohol (if legal to do so) to a range of customers from school age right through to retirees. Located in a one of a kind building in one of Geelong's most affluent suburbs.
Currently operating with a strong consistent base of regulars and a 15% growth rate for 2023, this cafe is the perfect opportunity for the right operator to fill the gap and need in Newtown's hospitality scene for a small wine bar/restaurant.
All of the equipment is owned outright and included in sale including ~$20,000 custom La Marzocco 2 group Linea PB, fully fitted out kitchen, website and large social media following. No lock in contracts with any suppliers so you can choose to stay with existing or use your own suppliers.
History
Operating since mid 2017, with the current owner taking over in Jan 2019, Newfolk has been operating for almost 7 years. Success has been measured by providing high quality and consistent service to customers day in day out. We see more room for greater success in the business' future thanks to successfully gaining a General Liquor License for on and off site alcohol consumption.
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