Our Ref: 24454

$345,000 PSAV

Enquire ABOUT THIS BUSINESS

BACKGROUND

This modern restaurant, cocktail bar and late-night venue can be found in the heart of the South West wine country.

The venue was originally opened in 2012 as a morning café and restaurant. During this time the opening hours were from 7.30 am to 11pm as they focused only on the breakfast and mid-morning patronage. In 2016 after 4 years of consistent growth and at the request of their now substantial customer base the trading hours were extended and the menu expanded to also include a lunch and dinner offering. This was an immediate success and remains the business model today.

During those initial years the business was effectively run under management. With annual revenues quickly increasing (now in excess of 1.0M pa), one of the two partners decided to become more directly involved and took over the day to day management of the business

In 2017 he bought out his partner and took control of the business in his own right. After a few years of this, he decided that the evening trade provided enough business and profit without the need to open during the day. Trading hours were changed to 5.00pm opening and 11.00pm closing. The business remained very profitable and the new hours better suited his preferred lifestyle. Today the business remains extremely popular and operates as an evening restaurant, cocktail bar and late-night venue. The locals have described the business as “A winning combination of live local music, crafty cocktails and a moreish menu”.

The business premises is very well appointed with quality furnishings through-out and  incorporating a modern commercial kitchen. The interior comprises of sleek dark greys, polished wooden tables, chairs and fixtures with bright art works adorning the walls.

 FEATURES

Unique features of this business include:

  • Trading only 6 hours per day during the evenings only
  • Gross annual revenue circa $1.3M
  • Strong and attractive annual profit circa $265,000
  • Fully licensed venue
  • Simple menu with easy to prepare light meals
  • Live music /entertainment
  • Inside dining for 56 guests
  • Outdoor dining for 16 guests
  • Suitable for functions, groups, hens nights / parties
  • Well established loyalty rewards program for customers
  • Database of 5,000 patrons
  • Well-appointed modern bar and commercial kitchen
  • Fully trained management team and staff
  • Obvious potential for a motivated operator to grow the business through expanded opening hours
  • Opportunity for new owner to apply for an alfresco license and expand the outdoor setting which will provide an additional capacity for 30 covers.

The owner is looking to pursue a new opportunity and so the business has been attractively priced to ensure a quick sale.

 

Business Agent

Lance White
0413 734 177
(08) 9480 3277
Enquire about this business
  • This field is for validation purposes and should be left unchanged.