Wine Jazz & Tapas Bar
About this business for sale in ChristchurchWine Jazz & Tapas Bar
Fully Managed 30% ROI, Owner Operated 40% ROI
Vesuvio is an iconic European Bar in Christchurch, with a tradition spanning 2 generations and very strong brand recognition.
It was re-established after the earthquakes in a new iteration, purpose designed and handcrafted, with a unique location in the last remaining 1930’s brick courtyard in central Christchurch. The reincarnated Vesuvio has now been trading for three years and has once again established an enviable reputation as a market leader with broad appeal to both the more mature client base of the original Vesuvio and the next generation, attuned as it is to urban cool and the cosmopolitan ambience reminiscent of the Wine, Jazz and Tapas bars of Melbourne, Barcelona, and Berlin.
Vesuvio is established around a carefully designed business model emphasising low cost structures, high quality product, and high achieved margins, all adding up to an exceptionally good bottom line performance without compromising quality at any end. Vesuvio received the only 5-Star Fairfax Media review in recent history, has just won the Best Front of House Team award (2017) at the Christchurch Hospitality Awards, and has 5-Star social media ratings with rave reviews on Facebook, Google, and Tripadvisor.
Vesuvio was set up by it’s owner, a seasoned and experienced operator, with a view to run as a fully managed operation with initial guidance from the owner and it has now achieved the targets set for it at the outset, including a strong and well established bottom line performance. The business is still growing and has substantial potential to further grow it’s sales and corresponding bottom line over the years to come, including in such areas as functions, possible opening for lunch trade, and continuing to grow it’s very stable customer base in an otherwise often fickle and sometimes poorly executed competitive environment.
Going forward, Vesuvio may continue fully managed with an established and professional crew as it is now, or it may suit an owner operator taking a more hands-on approach, in the process further increasing the rate of return on investment - in a small environment like Vesuvio, a hands-on operator can make a significant further contribution to the bottom line and their returns.
The owner has achieved his goals and is now preparing to place the business in the hands of the right buyer and to that end the owner will support the incoming party on terms to be discussed.
Vesuvio comprises of 3 public areas - the downstairs bar, the heated and sheltered private courtyard, and the upstairs library and function room; in addition it has a back-porch housing the remote installed refrigeration units, a dedicated keg room supplying 6 beers on tab through a chilled line system of only 3m length, a preparation and storage area, as well as additional refrigeration for the food served from the bar; in addition it has a separate wine store and prep kitchen in an adjoining building, featuring storage for red wines, a full-sized walk-in chiller for the storage of white wines, bottled beers, soft drinks and mixers, as well as food ingredients.
This is a rare opportunity that may be equally suitable for a newcomer to the industry as it is an exceptionally well run business with all systems in place and well bedded-in, someone who may wish to add to existing interests in the hospitality industry to benefit from diversification and economies of scale, an experienced owner-operator, or a young, hospitality trained operator/couple embarking on their first business venture who wish to set out secure in the knowledge that they are proceeding from a strong and well established business base that offers an exceptional rate of return on their investment from the outset and good opportunities for further growth.
Expressions of interest are invited and detailed, full documentation is available, subject to Confidentially Agreements and proof of funds.
www.vesuvio.co.nz www.facebook.com/vesuvio.co.nz instagram.com/vesuviobar
+64 3 928 2011
+64 21 909 950
*Sellers Discretionary Earnings, also known as EBPITD (Earnings Before Proprietors Compensation, Interest, Tax and Depreciation). This is the estimated total discretionary earnings (profit) for a business, usually based on historical trading.