Fruit & Veg Grocery Deli & Cafe for Sale Wollongong NSW

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Why buy this Fruit & Veg Grocery Deli & Cafe Business

Fruit & Veg Grocery Deli & Cafe for Sale Wollongong NSW Asking: $1,950,000

Background and venue

This Fruit and Veg Grocery store is a family owned business with over 20 years experience in fruit and veg and retail stores. They are passionate about fresh produce, hand picking only the best fruit & vegetables daily.

The store runs one of the best deli's in the region serving freshly cut cold meats, cheeses, olives, seafood and a great section of frozen products. The meat and deli sales are about $45,000 per week

Newly fitted out cost over $1million. Which includes a café averaging around $25,000 - $30,000 per week.

Currently also selling continental groceries including dried fruit, nuts, oils, rice, dips, bread, pasta, dairy and meat products. Pre made dinner packs.

Currently run under management with the owner only involved in the buying of fruit and veg. 6 days operation with potential to open 7 days to increase revenue by another $20,000.

Potential to convert to IGA subject to landlord approval.

Operating Hours

Monday to Saturday 8.00am 5.30pm Sunday closed.

Employees

4 full time managers, 35 to 40 casual staff

Lease

10 year lease expires 2031+ 5 year option, 3% annual increase, 1 month bond

Potential

* Potential to open Sundays and add an extra $20,000 to the weekly sales

* Low rent representing less than 3% of turnover

* Introduce online home deliveries

* Introduce more home packs or premade lunch, dinner

* Advertise on social media, facebook, Instagram

Weekly Financials Based on Last 12 Months POS Sales

Weekly Takings $135,000
Cost of Goods $83,700
Gross Profit $51,300
Rent $3840 (ex gst)
Outgoings $300
Wages $25,000 (includes super, not including owners)
Telephone $50 (includes internet)
Insurance $800
Electricity $1200 (includes gas)
Transport $1500
Misc 1 $3000 (repairs and maintenance, GST, waste
removal)

Total Expenses $35,690
Nett Profit $15,610
Stock $350,000

Asking Price $1,950,000 + Stock ($350,000)

Reason for sale:

The owner is looking to retire after 20 years in the business.

The Opportunity:

Net profit $15,000 per week under management. The new owner can work in the shop or continue to run under management for additional income.

Only open 6 days. Potential to open Sundays for more revenue. Rent is less than 3% of total revenue. Potential to keep as an independent grocer or convert to an IGA or independent supermarket. Subject to landlord approval