Chinese Restaurant, Prime Location with Low Rent
About this business for saleChinese Restaurant, Prime Location with Low Rent
A unique Chinese style restaurant is on the market for the first time ever. It is located on the very busy street with many offices, shops and retail food businesses nearby. Almost under full management, the owner does not actively manage or work in the restaurant. The new owner does not have to learn or know how to make Chinese cuisine or drinks; the operation is very simple; however training will be provided.
- Annual rent approximately $25K plus GST plus outgoings
- Final expiry date of the lease is until 2026
- Current owner does not work in the business at all
- Returning around $45K - $50K on paper for the current owner or $85K - $90K for a full time working owner.
- Little competition in Hamilton
- Very high gross margins on both food and beverages
- Other overheads is less than $15K per annum.
The vendor is moving onto other business sectors and is keen to look into any reasonable offers. Price may be negotiable to genuine and sincere purchasers. Contact your local business broker Paul Lu for further details.
***Some details of the business for sale are confidential and can only be disclosed upon contacting the broker and a completion of a Confidentiality Agreement. Due to the confidentiality of this business a stock photo image may be used to represent the business. Please contact the broker for further details.
*Sellers Discretionary Earnings, also known as EBPITD (Earnings Before Proprietors Compensation, Interest, Tax and Depreciation). This is the estimated total discretionary earnings (profit) for a business, usually based on historical trading.