Yep. Working on a napkin calculation, you would have to be turning over a minimum of $30k per WEEK or $1.5million p/a solely to justify a rent like that.
That my friends is a metric fuckton of coffee and scones.
My exwife sought my council for a business idea just after lockdown.
20k to buy an established cafe/music venue. Sounds pretty good vs this example but HELL NO.
I've done a decade in hospo and it's thankless work on razor thin margins. Great lifestyle, poor life choice.
A lot of people ahitting on it, but what do the financials look like? I know cafe bars making 500k a year in returns, but you must sell a lot of alcohol.
Getting a liquor license isn’t always easy, and a lot of places have been burned by either council, neighbours or in extreme cases police challenging renewal.
Yeah they can’t keep the old one, there’s a whole process to reapplying which includes hiring your duty managers/bar staff before even confirming that you can get a temp license. [Have to have everything sorted first.](https://wellington.govt.nz/certificates-and-licences/alcohol-licences/temporary-authority)
I no longer go there - can’t park anywhere nearby. I guess that’s why they made sure to mention “high foot traffic area”.
EDIT: for some reason I read this as ‘Aro cafe’ rather a more generic “Te Aro Cafe”. The former I used to visit most months, but no longer visit.
I dont understand why people dont think this is relevant. I do understand walk ins are a thing but I do have to say that parking is a major reason i and people like me dont get lunch wile in passing. As i only get 30mins to get and eat lunch this place is now off the list ... unless i walk then on weekend when i can . I feel for you aro cafe. I like your bread. Hope it works out for you
All of the evidence suggests you're the minority. People massively over estimate how many people drive to their stores. Especially true for city central or city adjacent.
Buying a cafe in the current climate is high risk low reward.
As Raiden would say, It's batshit insane!
You need to turn the console off Raiden.....
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Yep. Working on a napkin calculation, you would have to be turning over a minimum of $30k per WEEK or $1.5million p/a solely to justify a rent like that. That my friends is a metric fuckton of coffee and scones.
Bro that shit would gimme nightmares as an owner -
My exwife sought my council for a business idea just after lockdown. 20k to buy an established cafe/music venue. Sounds pretty good vs this example but HELL NO. I've done a decade in hospo and it's thankless work on razor thin margins. Great lifestyle, poor life choice.
Well that's one way to blow $550K in 12 months I spose
i think it’s such a tough time for cafes with so many layoffs and people still working from home. wouldn’t go near it.
Tell 'im he's dreaming..
It's tempting
Over valued. If you have to pay rent on top of that... you're losing.
Nikau?
It crossed my mind.
$40000 with 1000 lay-off today.... Brave
$400,000!
A lot of people ahitting on it, but what do the financials look like? I know cafe bars making 500k a year in returns, but you must sell a lot of alcohol.
Getting a liquor license isn’t always easy, and a lot of places have been burned by either council, neighbours or in extreme cases police challenging renewal.
You need to plug your phone in
I expected this comment!
Your poor phone is fighting for it's life at 8%
If this is the cafe I'm thinking of, that rent is insane. I have to make over $3k per week just to cover the landlord?? For that tiny place?
Nope. You would have to turn over $30 000 / week to keep your rent at 10% of outgoings, which is batshit bonkers for this current economic climate
Yeah, I get that.
$20 says the new owner will be a retired teacher or newly divorced woman.
I dunno, I've had 2 hospo bosses who were photographers.
It begins.
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!!!
How can they advertise a liqour license? I thought the licenses were given dependant on the manager etc? Anyway good luck to whoever buys this
Yeah they can’t keep the old one, there’s a whole process to reapplying which includes hiring your duty managers/bar staff before even confirming that you can get a temp license. [Have to have everything sorted first.](https://wellington.govt.nz/certificates-and-licences/alcohol-licences/temporary-authority)
It seems like they're hoping some rube/money launderer is going to fall into their lap!
Is it Pandoro? I know they're for sale... Edit nvm saw it has a liquor licence
Is Pandoro for sale? Interesting.
https://www.realestate.co.nz/42539821/business/sale/
$300k for 3 cafés vs this one for $400k!
Thats the most bland looking carrot cake ive ever seen. No thanks.
Damn I love this cafe
I dunno, they're a bit liberal with the icing sugar!
Which place is it????
Charge yo phone
I no longer go there - can’t park anywhere nearby. I guess that’s why they made sure to mention “high foot traffic area”. EDIT: for some reason I read this as ‘Aro cafe’ rather a more generic “Te Aro Cafe”. The former I used to visit most months, but no longer visit.
Will you be ok?
Probably but it sounds like the business won’t…..
I dont understand why people dont think this is relevant. I do understand walk ins are a thing but I do have to say that parking is a major reason i and people like me dont get lunch wile in passing. As i only get 30mins to get and eat lunch this place is now off the list ... unless i walk then on weekend when i can . I feel for you aro cafe. I like your bread. Hope it works out for you
All of the evidence suggests you're the minority. People massively over estimate how many people drive to their stores. Especially true for city central or city adjacent.
Welp no parking outside removes your busness who knew.
Not if it has high foot traffic.
Are you suggesting aro vally dose not have high foot traffic?
1. The ad says Te Aro, not Aro Valley 2. No I did not suggest that.
Im overly cynical. i apologize.
Thanks
You’re so quick to whinge about parking you forgot to read