Long established, highly popular & profitable Chinese Restaurant in a highly desirable location of Gold Coast

- Gold Coast QLD

Short Summary

This popular suburban restaurant established 45 years ago and the quality of foods & services are outstanding to continuously attract customers.

Key Selling Points

• Established brand
• Recession proof
• Low Stock requirements
• Long term Management and Staff in place
• Strong year to year Sales
• Strong year to year Growth
• Low Rent
• Long Term Lease in place
• No Competition
• Long-term Customers in place
• 80% Repeat Work
• Best Location
• High foot traffic location
• High visibility location
• Proven trading through Covid

This long established, well-known and profitable suburban Chinese restaurant is tucked away in a beach nearby location which is highly desirable and considered as one of the prestigious suburbs on the Gold Coast.

Shop size of above 300M situated in one of the most popular Gold Coast suburbs and lined with a mix of excellent menu, also with a Liquor license. Present owner took over in 2019 and has continued its success by offering best customer service and offering traditional quality of ingredients, all freshly prepared, making their handmade dumplings and signature Chicken and Prawn broth bases, along with their famous fired rice made with pork or prawn using a secret recipe.

This prominent business has weekly sales $15K per week trading mainly evenings with a liquor license. The current lease expires 2029 (including options) with a crazily cheap rent of $2,000 weekly. One full time owner is mainly responsible as “kitchen chef assistance” and another part time owner mainly works at the front. This business has generated close to $300K net profit to the couple annually factoring in their wages. They are reluctantly to offload due to retirement. With the lovely husband and wife who wish to go back to China for retirement, it is a perfect opportunity for the new hands-on operators to come in and to continue its success.

This business is perfectly suitable for the Visa 188A applicant or any motivated restauranteur who would like to bring this business to the next new height by strengthening its marketing, expanding its trading hours and introduction of a bigger menu.

Contact Henry Chow 0421 040 857 | Amy Wan 0498 229 813

Asking $198,000

Ref. no. BUY2445

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This advertisement and any other material provided in connection with the sale of this business does not constitute legal, financial, or business advice and is not a substitute for a full due diligence investigation. The sale of this business is subject to contract and the final approval of the seller.