Restaurant | Bar | Function Wedding Venue
North West Victoria
Boston Brokers is delighted to welcome to the market this superb restaurant and function venue business, which was established by our client in 2003. Only now is the business being offered to the market due to our client’s family commitments. The business operates all year round and generates a turnover in the region of $1,100,000 per annum, with a gross profit of approximately 25%.
Our client specialises in weddings, functions and corporate events & conferences to name a few. The property is licensed for weddings, with a unique purpose built chapel all of which overlook the beautiful lake and landscaped gardens. The business only accommodates one wedding per day and can accommodate 110 guests for a sit down wedding reception. Marquee weddings are also a popular option for those so inclined.
The business has some $500,000.00 in future weddings currently booked and deposits paid for. This venue has become one of the most popular in the region as our client offers extremely good value wedding packages.
- The property has been superbly renovated and is maintained to a very high standard throughout.
- The property also offers private lavender processing plant.
The business has built up an enviable reputation within a wide area for the excellent services offered, which has resulted in a loyal client base with a good amount of repeat trade and word of mouth recommendations. The business has an extensive website, with on-line booking facilities, which also gives in-depth details of the business and services provided. There are many excellent visitor reviews recorded on both the hotel website and TripAdvisor.
There is scope to increase the turnover by embarking on a modest marketing campaign to highlight the business and the services offered. The restaurant also limits the current trading hours so an extension to this would also benefit the sales and profit. There is also the opportunity to start to produce the retail side of the lavender business.
The business is further supported by exemplary relations with key suppliers who have helped to ensure that customer service and product quality is never compromised and that customers receive the highest possible quality of service, this has led to the existing high levels of return custom. This commitment to suppliers and customers has underpinned this business’s abilities in service quality and sustained business success.
The current market for this business is growing and is forecast in the near and longer term for significant growth. The business is well positioned to take maximum advantage of any growth as it occurs.
This is an excellent opportunity for a new owner to take this already thriving business to the next level; therefore early viewing must come highly recommended to avoid disappointment.
We are advised Leasehold:
Current lease: 3 x 3 x 3 x 3 (commenicing1/11/2016)
Rent: $104,400 + GST per annum.
Outgoings: $5,800 approx per annum.
The business operates 48 weeks of the year.
The business is owner run and managed, 4 x full time and 12 x casual staff members.
The business is financially stable with low overheads, positive cash flow and has shown consistent growth since opening. The business generates a turnover in the region of $1,100,000 per annum, with a gross profit of approximately 25%.
The business is being offered for sale on a going concern basis, all financial discussions will take place directly between the vendor and all interested parties under the auspices of the exclusive agents, Boston Brokers.
The current owner will provide all necessary training and all relevant contacts to allow continuity of trading.
Consideration $ 400,000+