This 7-day-a-week suburban café is run totally under management.
This is why we use the descriptor a "partly polished diamond"; it does so well without the owners' involvement, with a profit of about $370,000 per year in 2023.
You want to take ownership of a business that succeeds despite the current owners, not because of them.
This is the case with this business, which has high profits, high turnover, and low owner involvement.
* Employee Wages (2022): $589,357 plus super * Monthly rent: $13,883 including outgoings and GST * Average Weekly Sales (2023): $43,000 * Gross profit as % of turnover: 70%+
Its positioning is exceptional, with perfect aspect outside, complemented by great outside dining options, which explains why the locals have been coming back year after year.
All the fundamentals are in place.
1. Low rent as a percentage of turnover 7.5% 2. A long secure lease outside of a major centre 3. Staff that run the business 4. Abundant opportunities to improve operations 5. Bank finance offered at 50% of the sale price
Recent and comparable sales that we have put together on and off-market transactions indicate a likely sale price of $1.4m.
The 50% offered bank finance means that you would need to have assets of about $700,000 to fund the purchase and meet the bank guarantee of the lease and associated costs.
We will love to hear from you if you have the financial capacity and experience to turn good businesses into great ones.
We deal with a high volume of buyers, so if you could email your full name, mobile number and the fact that you are interested to sales at capitalcommercial.com.au, we would be grateful.