Hallett Cove Bakery

$89,000 + SAV ($5,000)

Web ID: F6482

Business Description

Perfectly positioned in the heart of the picturesque coastal suburb of Hallett Cove, the Hallett  Cove Bakery fronts well known Barramundi Drive. Set in among a small group of shops which offer ample parking out the front of the stores, they also enjoy a stunning view of the ocean.

With huge support from the local residents, this award winning bakery draws its focus on providing the highest quality hot food and sweet treats possible. Opening their doors in November 2014, the current owners set the bakery up from scratch with new plant and equipment and a fresh shop fit out which is currently able to seat 13 for lunch and coffee, however, this capacity could be raised.

Now trading 6 days per week and closed for 4 weeks throughout the year, the bakery continues to experience strong growth since the day it opened.  Its average turnover is $8,500 per week.

The Hallett Cove Bakery is really only just getting started.  The lease runs until 2019 with the option of another 5 years. This bakery is the perfect business for new owners to maximise its potential.

 

At a glance:   

  • Family owned and operated
  • Trading 6 days per week
  • Current turnover an average of $8,500 per week
  • Current owners close the business for 4 weeks of the year
  • Plant and equipment 3 years old (approx.)
  • Current lease runs until 2019 with a further 5 year option
 

 

 

Melanie Winter 0408 085 932


Extended Price Information

Goodwill including Plant & Equipment $89,000
Stock at valuation (approx) $5,000
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$94,000

Financial Summary

Year
Sales Return to Owner
2015/2016 $247,589 $105,238
2016/2017 $289,288 $120,131
2017/2018 $344,804 $145,895
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The return to owner is a net return to two working owners after all expenses and wages but excluding the vendors’ wages.

Lease Summary

Current Rent $2,800 per month + GST
Lease Term 5 years
Lease Commencement 1st August 2014
Right of Renewal 1 x 5 years
Outgoings 28.23% payable by tenant
Adjustments 4% annually
Current Rent

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