The business will be immediately recognisable to any local foodie and the business enjoys an offering that is based on comforting traditional Italian dishes partnered the warm service you would expect in a high end Restaurant.
Key Features:
-Established: The brand has been serving Canberrans since 1988 and the current location has been operating since 2010.
-Prominent Location: A high visibility corner site in a wealthy Inner South suburb. Undoubtedly one of the best locations available.
-Sharp Supplier Prices: Due to longstanding supplier relationships t he business enjoys a very low low cost of sales.
-Long financial History. The business is carefully managed financially and there is a long history of sales showing adjusted books net profit of around 16%.
-Long Lease: A new 10-year lease with an additional 5 year option offers a long secure tenancy with the additional benefit that it will make lending easier for buyers needing a loan.
-Great fitout: The business presents well and the dining room blends comfort and style with plenty of interesting features.
-Respected brand The business has been tightly held by the same owners for 28 years and the business has thrived in this particular location since it opened in 2011.
-Genuine reason for sale: The Reason for the sale will be shared with qualified buyers and a comprehensive transition has been planned to help set up the buyer for success through a seamless changeover process.
-Growth Potential: The business model is proven and the brand highly recognisable, with careful planning an ambitious buyer could potentially roll out further locations.
Approved buyers will need to demonstrate the necessary business skills and experience to satisfy the landlord that they will be capable of managing this prestigious business but the successful applicant will be securing an iconic and highly prized asset.
Businesses as long standing, resilient and successful as this do not come along that often so this is your opportunity to grab hold of a real gem.
**Please note that for confidentiality the image in this advert is generic and is not of the actual business**
Lease Details
10 plus 5 year lease offers long security of tenure
Premises Details
220 square meters
Opening Hours
Sunday Friday 12pm-2pm, 5:30-9pm
Saturday 5:30-pm
Opportunity
The brand is well recognised and the business model profitable and proven. The opportunity to roll out the brand to other locations would be attractive to a strategic buyer.
**Weekly**
Sales $63,239
Rent $4,512 (7% of turnover)
Wages $19,698 (34% of turnover)
Net Profit $9,518
