This is one of those rare hospitality listings that really is run completely under management. The current owner meets with the Head Chef and Manager once a week for a catch-up and review of the week. That’s it!
This is a restaurant with a fabulous pedigree, and it just happens to be an outstanding business that operates with incredibly tight systems and well-controlled costs.
Do you need hospitality experience? Really – no you don't.
LET ME WHET YOUR APPETITE FURTHER
- Average sales – $46,875 per week including GST. That’s $2.12m for the last 12 months excluding GST.
- Rent 6% of sales
- Food & beverage costs 27.6% of sales
- Wages 37.4% of sales and that’s fully managed
- Fully managed
- Stunning set-up
- Great reputation
- Solid lease in place
Here’s the important bit – a fully managed EBITDA of $515,000 a year! All for $1.27m plus stock. That is a phenomenal 40% Return on Investment!
IS THIS LEVEL OF PERFORMANCE MAINTAINABLE?
Simply – yes. This is just a great destination restaurant that excites and delights its guests. The systems and processes are all in place for this to continue. A new owner simply needs to maintain the relationships with the staff and keep the ship steering ‘on course’.
WANT EVEN MORE PEACE OF MIND?
The owner are hospitality people. They have other hospitality projects on the go. They are happy to provide ongoing support if it is required on a consultancy basis. They absolutely back their restaurant and will stick around to prove it! Staff worries? Nope – these owners will help you if there are challenges. Menu change worries? Nope – again they will help you if you need it.
SO – WHY ARE THE OWNERS SELLING?
It was never their plan to own the business for an extended period of time. They knew that they had a couple of busy projects on the horizon and that is exactly the situation. This was a passion project for them, and they have achieved what they set out to achieve. The sale also releases funds for the new projects, of course!
It’s rare to find a hospitality business like this that operates well under management, that has flown in the face of the economy, and that offers such great returns to a buyer. Couple that with its great location and stunning set-up and you have an investment here to be proud of.
Asking $1.27m plus stock
Nick Giles, 021 676 832, nick.giles@linkbusiness.co.nz
***Some details of the business for sale are confidential and can only be disclosed upon contacting the broker and a completion of a Confidentiality Agreement. Due to the confidentiality of this business a stock photo image may be used to represent the business.
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