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Profitable Bar & Restaurant Fronting Popular Foodie Strip For Sale

Crows Nest, New South Wales
Asking Price:
$280,000 (AUD)
Sales Revenue:
$1M - $5M (AUD)
Cash Flow:
Available on request

Don't miss this one if you are envisioning a substantial $250,000 income a year

· Two enchanting and intimate bars, tastefully furnished and decorated, housed in one spacious venue with restaurant seating throughout both bars
· While frequented by lots of walk-ins, the business has also earned excellent reputation from hosting pre-booked functions
· The venue can comfortably accommodate groups of 8-80 people for functions, events, and parties of all occasions
· 4-8 bookings per month, usually taken one month in advance with deposit paid, average 40 people spending over $5,000 per booking
· The cleverly arranged layout allows the bars to host functions at the back and serve the other customers at the front as usual without interrupting each other
· Customers are decent and lavish spenders that never give troubles
· Suitable for an experienced bar operator

Financials:

Sales: ˜$20,000/wk
Profit: ˜$4,300/wk
Rent: ˜$3,000/wk
Wages: ˜$4,800/wk (including owner salary)
Utilities: ˜$450/wk

Property Information

Real Estate:

Lease

Lease Terms:

Expiry in May 2023

Location:

Conveniently fronting Lower North Shore's most vibrant strip for serious foodies

Premises Details:

Downstairs front bar approx. 74 sqm, back bar approx. 120 sqm (including storeroom, toilets and outdoor area), kitchen approx. 30 sqm; upstairs approx. 88 sqm including a storeroom, and an office, a bathroom, and a balcony that most do not relate to business operation

Business Operation

Trading hours:

Tuesday-Wednesday 3pm-11pm, Thursday-Saturday 3pm-12am, Sunday 3pm-10pm

Employees:
The owners work in the business; the staff takes shifts; 2-3 staff needed on less busy days and up to 5 on the busiest Friday and Saturday

Contact Information

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