Priced To Sell - Modern Asian Cafe Restaurant - Selling for less than fitout cost - Penrith Area

Business Overview

Located in the heart o Penrith commercial and entertainment precinct. Serves modern and traditional Vietnamese cuisines. There is huge potential in promoting more dine experience

The fit out cost $500k to build, 8 years lease remaining, low rent, great location currently turning over 16k per week. Suitable for a Chef or manager looking to start their own Asian restaurant or an existing Asian restaurant looking to expand.

Premises
. 190m 2 with dine with 60 seats inside and 20 seats outside

Hours of Operation
Monday to Sunday  11.00am to 9.00pm

Potential

*  More promotions on Facebook and social media
*  Potential for more in house dining to increase the average sale and maximise the liquor licence
Employees

4 x full timers and 2 casual

Lease

10 years lease from November 2021, 8 year remaining, 3% increase per year, 3 months bond


Financials Summary  Based on last 12 months Sales
Weekly Takings  $16,789
Cost of Goods     $5036
Gross Profit         $11,753
Rent                      $1950 (Ex GST, includes outgoings)
Wages                  $3330 (excludes the owners wages)
Telephone           $20
Water          $40
Insurance            $157
Electricity        $418
Misc 1                   $2836 (GST, bank fees, uber eats fees)
Total Expense     $9,236
Net profit.            $3017 (profit for 1 working owner 40 hours p/w)
Estimated Stock Value $1,000
Estimated Equipment Value $250,000
Asking Price:    $149,000 + Stock