Restaurant Bundaberg

* Bundaberg's most popular restaurant
* Trading 6 days a week
* New Kitchen Fit-out 2010
* New Restaurant Fit-out 2011
* Priced below cost - Total Inventory $160k
* Established for over 20 years 
* Current Lease (5 years) to March 2015 plus another 5 year option
* Current Turnover >$700k - a lot of opportunity to increase turnover

Our situation

We purchased the business in 2010 after it had ceased trading for 3 months.  The fit out was tired and run down.  We replaced all kitchen equipment with new equipment and fully renovated with a new fit out.  We started trading in May 2010 and the business very quickly grew to the busiest restaurant in Bundaberg.

At Christmas 2010 the restaurant was flooded.  We lost our entire new fit out.  We also had the expense of wages while we were not trading, loss of stock and loss of trade for the period that we were not operational.  The business at that time was not insured for flood and this money came from our running capital.  This has meant that in less than 12 months we have paid twice for a full fit out as well as the other expenses.  These debts have impacted greatly on our working capital.

We have been offered employment taking advantage of the industry boom in Central Queensland and are seeking to sell the business, pay out our flood debt and move on.

Your Situation

You are paying less than the cost of the fit out, most of which is less than 12 months old.  You are paying no additional cost for a business that we have built to become arguably Bundaberg’s busiest restaurant.  We currently host high end functions, weddings, smaller casual parties, a bar trade and a busy restaurant trade. You can take over the business and receive benefit immediately with functions, weddings etc booked for 2012. 

The business is now insured for flood cover.  We are the only owners in the 30 year history of the business who have been flooded.  Should it happen again there is full cover for flood.

At the current purchase price you will have money left in your working capital to advertise and promote the business to increase trade even further.

Additional Details

Years Established: 20+
Gross Turnover: 700,000
Stock Included: No
Approximate Stock Value: 15,000
Number of Employees: 12
Car Spaces: 60
Property Size: 150 seats
Property Title Included: No
Business Relocatable: No
Business Operated from Home: No
Local Council: Bundaberg Regional Council

Buyer Resources

When buying a business there are lots of useful, and most often free, online resouces to assist you make a well informed decision on which business to purchase.

Australian Government Business Resource website

Business Tax Office Support website

Australian Competition and Consumer Competition website

Directory of Government and Business Associations website