Phone enquiries - please quote property ID 24140.
GET IN BEFORE NEWSTEAD BOOMS
This is an exciting opportunity to purchase a solidly performing hospitality/retail business in a rapidly growing location. Huge growth and expansion opportunities in this booming inner-city suburb.
LOCATION DETAILS
The business is located in the heart of Newstead at the base of UNISON at Waterfront, which houses 290 apartments. Neigbouring is a mix of residential and commerical buildings as well as 4 major residential developments currently under construction.
POTENTIAL
This is a walk-in business opportunity with initially nothing to do except start earning money and plan for future growth. This is a truly unique business in that it is the hub for all things local, sourcing and serving products and produce from within a 360km radius. Whilst there is substanical potential growth opportunities in business's 3 main revenue streams - food retailing, cafe and catering, the location will also be boosted by at least 1500 new apartments within 2 years. This is your opportunity to get in now before Newstead booms.
SKILLS
Whilst, a backgound in either hospitality operations or retail would be an advantage, the business's systems and processes are easily replicated and full training during the transition period is available. In order to be successful in this business, good customer service and time managment skills are essential as well as the ability to plan, transition and adapt to situations out of your control. (i.e COVID-19 lockdowns)
HOURS
Monday - Friday 6am - 3pm
Friday Dinner 5pm - 9pm
Saturday 7am - 11am
Catering available any time
LEASE
Lease will expire on 23 October 2023.
Options available to renew and renegotiate a new lease.
REASON FOR SALE
The owners wish to pursue new business opportunities. "We would like to devote our time to the new business opportunity. We wish to sell our business to a buyer who has the passion to sustain and enhance its' success."
ABOUT THE BUSINESS
Primarily, this business is a gourmet convenience store, selling regional and local products, produce and everyday groceries. The business also serves and sells a range of light meals, coffee, and juices which are available to take away or to have in store.
Products
This business is a local and fresh food marketplace, which sells fresh fruit and vegetables, fresh breads & pastries, smallgoods, cheese, milk, eggs, and milk alternatives. To accompany the day to day essentials, the business also sells an extensive range of breakfast, lunch and dinner provisions, snacks, beverages, and wine. This business also supports local artisan and smaller producers, whose products include candles, books, bags, cleaning products, toiletries, and gifts.
Services
This business offers café style food and beverage service from 6am to 3pm Monday to Friday; 7am to 11am on Saturday; and dinner service on Friday evenings. The business serves a more traditional style cafe menu including chia/granola pots, pastries, toasted sandwiches, salads, light meals, and a small range of sweet and savoury snacks, suitable for breakfast or lunch. The business also has a catering arm which is mostly corporate catering and off-site private events.
Customers
This business's customers are those living and/or working in the local area, as well as those visiting the area. Most of the customer base are "time poor" consumers, meaning they will purchase because it is easy and quick. They are also willing to spend a bit more for quality if it saves them time. In other words, if they can get a coffee as well as their bread, milk, and eggs in one transaction and one place, they will spend a bit more for those products.
Customer transactions are mostly face to face in store. The website is set up for online selling and there is an opportunity for further growth and development in this area.
What makes this business unique?
This is a totally unique business, in that it sells products and produce from local suppliers and/or businesses. Many products stocked and served will not be found anywhere else.
Additionally the business has multiple revenue streams retail food, café, and catering. Each area still has substantial potential growth, especially with the population boom that Newstead will soon be experiencing.
HISTORY
This business commenced trading on the 1st of February 2017 and is still owned and operated by its current owners. With the onset of covid-19 , it was necessary for the business to focus heavily on groceries, take-away and take-home meals and eventually rebranded, post restrictions. . The focus remains on supporting local producers, but the full-service model has been replaced by a streamlined operation. Offerings include light breakfast, lunch, take-away and take-home meals, which is a sustainable service model for the 2 owners to manage.
DISCLAIMER No Agent Business (www.noagentbusiness.com.au) is an Australian For Sale By Owner website operating since 1999. We proudly assist business owners who are looking to sell their own business without paying any broker commission. While every care has been taken to verify the accuracy of the details in this advertisement, the correctness cannot be guaranteed.
