Rapidly Growing Produce Store with Coffee Bar and Loyal Customer Base

Description

Business type: independent fruit and vegetable retail store

Location: Maitland, New South Wales

Established: January 2021

Annual turnover: approximately $6,000,000

Reported annual turnover growth: approximately $1,000,000

Trading days: 7 days per week

Business overview

Established fruit and vegetable store operating from a standalone building in Maitland.

Customer base: loyal and established

Business growth: strong since establishment

Current sales model: retail only

Additional revenue stream: in-store coffee bar

Products and services

• Fresh fruit and vegetables
• Grocery products
• In-store coffee bar

Coffee bar trading: 7 days per week

Financial performance

Annual turnover: approximately $6 million

Reported turnover growth: approximately $1 million annually

Annual rent: $92,123, subject to CPI increases

Rent as a proportion of turnover: less than 2%

Premises

Building: standalone

Street frontage: large

Visibility: strong

Customer parking: ample

Nearby businesses: complementary retailers

Cold storage: existing cool room capacity available for expansion

Lease

Original lease term: 7 years

Remaining lease: 3 years

Renewal option: 7 years

Annual rent: $92,123

Weekly rent: approximately $1,771.60

Rent increases: CPI linked

Operations

Current owners: actively involved 5 days per week

Owner responsibilities: operations, quality control and administration

Produce purchasing: supported by an experienced buyer operating through Sydney Markets

Supply logistics: coordinated through the Sydney Markets buyer

Ordering and restocking: handled by existing staff

Staff

Permanent staff: 5

Part-time staff: 2

Casual employees: 10

Growth

Wholesale expansion: potential identified

Existing cool room infrastructure: available to support additional wholesale activity