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Outstanding Opportunity Successful Award Winning Greek Restaurant Hobart For Sale

Hobart, Tasmania
Asking Price:
$1,300,000 (AUD)
Sales Revenue:
$2,000,000 (AUD)
Cash Flow:
$500K - $2.5M (AUD)

This iconic Greek restaurant is located in Hobart’s premier tourism, arts and cultural precincts. Trading for over ten years, the award-winning reputation of the restaurant and the deal location have ensured the enormous success of this family run concern that is currently turning over approximately $2 million annually.
Licensed to seat 100 patrons inside the restaurant and a further outside seating available for 70 diners, this is one of the most popular and successful restaurants in the state of Tasmania.
The award-winning restaurant is famed for its authentic and extensive Greek menu that capitalises on the first class, local Tasmanian produce, where some of the finest foods in Australia are produced. Other relevant produce and products are imported from interstate or overseas, including the finest charcoal for authentically char-grilling in the Greek tradition.
Despite the GFC, the business can demonstrate steady growth of approximately 10-15% per annum since trading. With a mix of 20 full time and casual staff, the majority of full time staff members have been employed by the business for over five years, indicating the solidity of this concern and the loyalty and professionalism of the staff.
One of the chief assets of this restaurant is the broad appeal it holds for diners. While it is positioned at the top end of the market, it appeals to both a loyal local client base and tourists. The restaurant is a venue for special celebrations, casual family get togethers and for the young and the old.
The business is open seven days a week, including serving breakfast on Saturdays and Sundays in summer. Through the winter, the business closes on Monday, plus the restaurant closes for 2-3 weeks for staff to take annual holidays and to undertake repairs and maintenance as required.
With a proven strong cash flow, the business still has room for growth. The restaurant has just started selling take away meals and is considering home deliveries. While there is a website presence, it has not been optimised, representing an opportunity to grow the brand and the business substantially.
There is also the possibility of growing the well-recognised brand by participating in local festivals and events, or by establishing a secondary site or developing branded products such as dips, marinated foods and Greek desserts.
This business would suit savvy investors; alternatively it would be an ideal opportunity for a family run concern. The restaurant has a long-term lease until June 2018 with a further five-year option at a reasonable rent that includes secure storage and an expansive outdoor dining area.
Based in beautiful Tasmania and in one of Australia’s fastest growing cities, Hobart is famed for it’s beautiful architecture, the arts and food culture. The new owners could enjoy the best that Australia has to offer in one of its most liveable, attractive cities.
Asking price: $1,300,000 + SAV

Property information

Real Estate:

Lease

Lease Terms:

Until June 2018 with 5 year option

Location:

Hobart, Tasmania

Business Operation

Expansion Potential:

The restaurant has just started selling take away meals and is considering home deliveries. While there is a website presence, it has not been optimised, representing an opportunity to grow the brand and the business substantially. Room for future growth

Competition / Market:

not in area

Trading hours:

7 days

Employees:
20 full time & casual staff
Years established:
5

Other Information

Support & training:

Owner will assist to a smooth transition

Relocatable:
This business can be relocated.

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