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Falafel Extra has been trading continuously on Acland Street in St Kilda for over 30 years so it is an iconic business. The original business concept is essentially unchanged in all this time. Being on Acland Street there are huge numbers of patrons walking by all year and this peaks with the influx of tourists on festival and local event days. It is a very simple operation with low costs, high volume and can be easily run under management. There are excellent systems in place allowing anyone even without food experience to run the operation, with minimal cooking expertise required and established staff in place.
There is footpath trading on Acland Street for twelve which can also be expanded. The operation is turnkey with no further investment necessary. The serving and preparation areas are all well presented with varied seating throughout and a booth at the rear of the venue. The business is extensively equipped with multiple prep areas, two large cool rooms and various storage areas. An external gate leads to a rear car park with room for two cars which is extremely rare and handy to have in St Kilda.
The lease is in its final year and a new lease of three further terms of five years is available for the new tenant. A recent rent review has given the venue a significant reduction in rent down to $2000 a week plus GST. The venue has a restaurant and cafe licence until 11 pm with a capacity of 28. All fixture and fittings are included in the sale and there are no contracts or equipment lease agreements in place. The set up is ideal for delivery and Uber Eats options.
The venue has been extensively refurbished and well maintained throughout the current owners tenure. It is a standalone business at the moment ideal for an owner operator but is also suitable for franchising and expansion throughout Australia. The business is perfectly placed to meet the growing demand for fast fresh foods including vegan, vegetarian, dairy free and nut consumers. Located in the centre of Acland Street with a long trading history, the business guarantees trade whatever service offering is provided from this prime location. The vendor is genuine and looking for offers in the region of $145,000 for this exclusively listed venue .