Glebe Café – high foot traffic, new lease, full kitchen, staff in place

$99,000 plus stock

Description

MUST BE SOLD – MAKE AN OFFER

This very well known and centrally located café in the popular Inner West suburb of Glebe is offered for sale, boasting a prominent position with enormous street appeal, high foot traffic and a name synonymous with Glebe.

The Vendor, due to personal circumstances, has reluctantly decided to pass on this fantastic opportunity to someone new. Some renovations have recently been completed, staff are in place and the sales are increasing! All the hard work has been done to resurrect this iconic café to its rightful place in the Glebe café scene.

With the return of students to nearby universities and the resurgence of the Glebe Point Road precinct, the time is right for an experienced and astute operator to take the business back to its high sales levels. Average weekly turnover in FY21 was $24.6k/week, despite capacity and other Covid restrictions. Prior to Covid, sales were around $35k/week.

There is footpath seating for around 16 patrons plus around 51 indoor seats. On the lease are also 5 separate apartments which currently bring in a rental of $1,120 per week.

The opportunity is to hit the ground running, capitalise on the good name of the business and catapult this iconic café above and beyond its past glory. Recently updated and with a strong team of staff. The good rent and long lease tick all the remaining boxes for a great business acquisition! Extend the operating hours to previous levels, including nights, to increase the sales. Liquor license possible (STCA). Ramp up the delivery/take-away business.

**Please note that for confidentiality the image in this advert is generic and is not of the actual business**

Staff No

The business is currently run by the following staff: 1 x Chef (day) Full Time 1 x Barista (day) Full Time 1 x Floor/Kitchen Hand (day) Casual 1 x Floor/Kitchen Hand (day) Casual 1 x Floor/Kitchen Hand (day) Casual 1 x Owner Full Time A total of 56 operational hours per week.

Lease Info

A new lease will be provided (3x3x3 or 5x5) A three month rental bond is required.

Trading Times

7 days Sun-Wed 8:00am – 4:00pm A total of 56 operational hours

Size of Premises

The business is in good condition with seating for 34 indoor, 17 in the courtyard and with a footpath license for 16 outdoor seats. Plenty of storage with a full kitchen, coolroom and an office. The premises include a 1-bedroom apartment, 1 self-contained studio apartment and 3 separate rooms (sharing a bathroom and kitchen) (@$1,120 per week). This very well known and located café in the popular Inner West suburb of Glebe boasts a prominent position with enormous street appeal. Situated on the main high street of Glebe, close to transport, Universities, Broadway Shopping Centre and local attractions. On street parking and nearby free parking available. Buses at the doorstep. High foot traffic. Café has been in operation for over 40 years – well known dining/café institution.

Opportunity

The opportunity is to hit the ground running, capitalise on the good name of the business and catapult this iconic café above and beyond its past glory. Recently updated and with a strong team of staff. The good rent and long lease tick all the remaining boxes for a great business acquisition! Extend the operating hours to previous levels, including nights, to increase the sales. Liquor license possible (STCA). Ramp up the delivery/take-away business.

Weekly Sales & Turnover

Coffee Sales Per (Kg)

Rent

1,821

Reference No: TDBM0637

Business Listed by

Tas Dasios

Licensed Real Estate Agent and Business Broker in NSW @ GSE Hospitality Brokers

Take-aways, restaurants and later cafes and car wash cafes have been an integral part of my life since childhood. I learnt the trades of hand cut chips, filleting fish, making burgers, being a barista, being a waiter, being a cook and on top of all that, producing quality and providing excellent customer service. The initial stages were part of the family business, but later became a choice to support my studies or a change of direction in life.

I had various corporate jobs and landed in a regional role in a large coffee franchise. Here I supported franchisees to effectively (and efficiently) run their businesses from reducing cost of goods and wages, marketing their business both from behind the counter and through local area marketing, sampling activities and providing robust business plans. If you fail to plan, you plan to fail was the motto.Though the process, we were able to understand in detail the business and were subsequently able to make the right decisions for the future direction of the business – whether to continue and increase sales and profit, realise that the full potential of the business has been achieved or accept that the business trajectory is not where it needs to be and therefore create an exit plan.

After a while I decided that I could provide this service to a lot of businesses and industries and got my broker’s licence and started servicing NSW in consulting and selling. I co-authored a book titled ‘Show You the Money’, a business KPI handbook given to prospective and current business owners when engaging the consulting services to assist and guide them through their business decisions. Selling at the right price and time was proving to be the decision most business owners were asking for – and I was only too happy to help! After a few years, I was asked to be involved in a start-up and since then I have been involved in five start-ups, but the passion for hospitality remained.

I believe relationships are the cornerstone of any business and creating the open communication channels and informing the vendor and the buyer of the progress of their venture is paramount. Couple this with the vast experience that I bring, I am able to effectively communicate with both parties with authority and insightfulness. I look forward to sharing your business thoughts and plans and obtaining the best possible results for your business.

Request more Information about this business

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I understand and agree to the GSE Confidentiality Agreement and Marketing Policy*
The Prospective Buyer of the Business agrees to be bound by this deed as follows: All information of a confidential nature disclosed to the Prospective Buyer (including to Agents, legal & other advisors) may not be disclosed to any other party prior to, during a subsequent to the entering into by the Prospective Buyer of a contract.

All records of the Business, financial, intellectual or otherwise are confidential and must remain so. This deed does not prevent any party from making a disclosure required by the law and does not include information normally in the public domain.

The Prospective Buyer acknowledges information supplied by GSE Business Consultants: Is provided by and on behalf of the Business Owner. Is not guaranteed by GSE Business Consultants and it shall be the responsibility of the Prospective Buyer to do whatever is reasonably necessary at its own expense to verify such information GSE Business Consultants are not acting as an investment or financial advisor.

The Prospective Buyer confirms GSE Business Consultants, having supplied the material requested by the Prospective Buyer does so as agent only and as such bears no responsibility for the accuracy thereof or any errors contained therein and the Prospective Buyer will not hold GSE Business Consultants liable for any loss or damage sustained with respect to reliance on such information.

The prospective buyer hereby agrees not to approach the landlord, property managing agent, any staff member or the business owner either directly or indirectly. When visiting the venue as a customer this must be done with absolute discretion.. Furthermore, the prospective buyer agrees not to discuss the sale of the business with anyone without first disclosing that person’s contact information to GSE.

All information and material provided under this deed will be returned, destroyed or otherwise dealt with in accordance with the Business Owner’s instructions if no contract is entered into. All contact with the business owner must be organised through GSE unless the business owner is advertising through The Six Steps to Sale Program offered by GSE.

The prospective buyer hereby accepts that their contact information may be shared with the seller of any business on which an inquiry has been made. GSE will not share the contact information of the prospective buyer with anyone outside of GSE with the exception of the business owner as referred to above.
In addition to accepting the terms outlined above, please be aware that by agreeing to the GSE Confidentiality Agreement, you also consent to receive marketing communications from GSE related to similar business opportunities. Your contact information may be shared with the seller of any business in which you express interest, as well as with GSE for the purpose of facilitating such transactions. Rest assured that GSE will not share your contact information with any third parties outside of our organization, except as mentioned above in relation to the business owner. Thank you for your understanding and cooperation in this matter.

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Sydney NSW