Restaurant – Korean Cuisine- Under Management

For Sale

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Sydney CBD

Business Code: W1974

$229,000
+ Estimated Stock (SAV) $7000
Key Features: Prime location in Sydney CBD. - Well known for many years - Good reputation - Google rating 4.5 - Most customers are regulars from surrounding apartments. - Tasty and traditional Korean food. - A good size restaurant (54 seats)
State: NSW
Suburb: Sydney
Location: Situated in Sydney CBD on very busy road with huge number of pedestrians all day.
Premises: This restaurant has an area of 106 sq.mts.
Price not disclosed

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Private reasons

Sale Reason

10 yrs

Established

Surrounding City car parks

Parking

Fully under Management - 2 full timers + 12 part timers.

Employees

7 days - Monday to Sunday: 12:00 noon to 12:00 midnight

Trading Hours

5 year lease from November 2019 + 5yrs. option - 3 months bond - Rent increases by 4% per year.

Lease

Restaurant selling a variety of fried chicken options such as sweet and spicy, garlic soy, snow cheese chicken plus a diverse range of traditional Korean dishes, beer and soju.The menu also features hearty individual mains including spicy soft tobu stew. kimchi pork spare ribs, bulgogi, bibimbap etc.. One of the most authentic and tasty Korean Food Restaurant in Sydney CBD. – 54 seats – Liquor license until 2:00 a.m

Features

Prime location in Sydney CBD. - Well known for many years - Good reputation - Google rating 4.5 - Most customers are regulars from surrounding apartments. - Tasty and traditional Korean food. - A good size restaurant (54 seats)

Potential

Experienced new owner couple could save on wages. - Add to menu -Extend trading hours and open earlier- Do some marketing and advertising through internet and local papers

Comments

Misc.- 1- Rubbish collection, Equipment includes walk in cool & freezer room, large fridge, bench storage, air conditioner, high and multi media system, CCTV 9 cameras etc. - Lots of Uber sales from surrounding apartment residents. ($9,000-$10,000/week) Motivated vendor after long time in same business. Rare to see such a prime location restaurant for sale. Inspection through your brokers.

Weekly Summary

Figures include GST unless stated otherwise

Weekly Takings
$35000
Cost of Goods
$10000
Gross Profit
$25000
Rent
$4728
Wages
$9500
Telephone
$35
Insurance
$127
Electricity
$346
Misc 1
$154
Total Expenses
$14996
Estimated Stock
(Additional)
$7000
Net Profit
$10004
Price
$229,000
+ Estimated Stock (SAV) $7000
Price
$229,000
+ Estimated Stock (SAV) $7000
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