Commercial Freehold Property - Mature Business with Stable Earnings
Tong Fong Restaurant has been in operation for 38 years (34 years under current ownership).
The business has been a stable part of the local community and has become increasingly more successful with the growing interest in Asian cuisine over this period.
-Well-known business with a strong customer base
-Captive audience given lack of alternatives in the local area
-Few businesses offering the same trading hours – Competitors have come and gone!
-Business revenue not reliant on any form of advertising/marketing - well supported by residents
-Owner-operated - both operate the kitchen as chef and kitchen hand + 3 waitresses to look after front of house
-Preference would be to hand over the business on a turnkey basis. However, some training/handover could be negotiated
-Ideal opportunity for owner-operators looking to acquire a business with a short payback horizon
The business is situated in a Commercial Freehold Property across approx. 305 m2, with street frontage onto Aberford Street. Access to good foot traffic being positioned near one of the key access intersections and on the thoroughfare which captures visitors through the town.
Asset comprises a dining area and fully functional commercial kitchen, separate customer and staff amenities. Premises include a 2-bedroom flat to the rear with laneway access.
This Freehold going concern is offered for $320,000
Consideration would also be given if any purchaser wanted to acquire only the business without the freehold (ie leasehold interest).
Business ID: BS------