Restaurant – Korean Cuisine

For Sale

·
Sydney CBD

Business Code: FN1383

$200,000
Key Features: Prime CBD location - Well established Korean restaurant with loyal customer base- Modern and welcoming interior atmosphere - All new setup and equipment- New cool room established
State: NSW
Suburb: Haymarket
Location: Prime location in the heart of Sydney CBD with strong pedestrian traffic near Central Station and Chinatown
Premises: 110sq.m with full kitchen and cool room

Owner wishes to focus on other business operations.

Sale Reason

Parking stations

Parking

1 owner + 1 full-time employee + 2 casual staff

Employees

7 days – Monday to Sunday, 11:30 a.m to 10 p.m

Trading Hours

New 3 + 3 or 5 + 5 year lease is available, subject to landlord agreement. Proposed terms include annual increases of 4% and a three-month bond or bank guarantee, to be confirmed.

Lease

Recently refurbished Korean restaurant positioned in Sydney’s busy dining precinct. The vendor advises that the premises underwent a complete renovation approx. three months ago, including a new fit-out, equipment and cool room. The menu features LA beef galbi, pork galbi, pork belly, spicy pork, Korean fried chicken, beef rib soup, budae-jjigae, bibimbap and noodle dishes . Offering dine-in, takeaway and delivery, the business provides an existing platform for a hands-on owner-chef to develop. Seating for 40 customers and space for up to 10 additional outdoor seats, a fully equipped commercial kitchen, cool room and storage. The vendor advises that the liquor licence permits trading until midnight, providing scope to develop evening food and beverage sales within applicable approvals.

Features

Prime CBD location - Well established Korean restaurant with loyal customer base- Modern and welcoming interior atmosphere - All new setup and equipment- New cool room established

Potential

Ideal opportunity for owner chef or couple -run business with manageable operation structure - Well suited for experienced hospitality operators or buyers looking to enter Sydney's growing Korean dining market. - Potential to introduce new menu items, Korean drinking culture concepts, or seasonal promotions to further grow sales

Comments

About $350,000 has been invested in the recent renovation and business sett-up, fit-out and equipment, the business presents an opportunity for a new owner to acquire a recently fitted restaurant for less than the reported setup cost. Particularly suited to a hands-on owner-chef looking to establish their own operation without undertaking a full fit-out from scratch. The current business reports weekly sales of approximately $13,000, with scope for an incoming operator to develop the menu and improve operating efficiency. All inspections must be arranged through the broker.

Weekly Summary

Figures include GST unless stated otherwise

Weekly Takings
$14000
Cost of Goods
$4000
Gross Profit
$10000
Rent
$3500
Wages
$2500
Telephone
$20
Insurance
$30
Electricity
$300
Misc 1
$50
Total Expenses
$6500
Net Profit
$3500
Price
$200,000
Price
$200,000
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