0:00 Hi there, my name's Matt Holland and welcome back to the AllBiz deal room podcast where we talk about the most recent business listings that have been added to the All Biz deal room and that's anything from a business sale, a partnership sale, franchise sale and exciting new business opportunities.
0:15 Today I'm welcoming back Mark Carn, Mark is our national operator over in Adelaide and he's got an exciting new listing that he'd like to tell you about.
0:30 So we're here to observe owned by the government and it's more of a key ox type cafe and the feature of it is it's opposite the entertainment centre which can hold over 10,000 people so you can think of the numbers that go past there.
0:45 So on the main route of the Adelaide tram system so a lot of people actually do join the tram here.
0:53 So it's very very popular with people who attend the entertainment centre and also the tram stops. It's a growing business.
1:02 It's only open short hours so it'd be very good businesses. Someone perhaps a mother that doesn't want to work long hours in the business.
1:11 So it's really a feature. We've only had it advertised a couple of months now and had quite a few inquiries and it's a business that can have a be a really good business for someone that wants to come in and run the business.
1:26 Thanks Mark. I can clearly see why this one's getting so much interest in it. So is it a focus of the business more the entertainment centre traffic or is it the local business and the trams or is it a bit of both?
2:00 Five days a week. So there's functions at the Adelaide Entertainment Centre on Sundays and Sunday. It's been underutilised. So there's huge opportunities for growth for motivated new business owners.
2:14 Thanks Mark. I can clearly hear the business coach and you recognising those opportunities in the catering and function centre side of the business.
2:21 So what are they looking to do? Is that an outright sale? Yep. They definitely want to sell an outright. The owners thought they'd have more time and had children that perhaps were going to do the business for them but that hasn't eventuated.
2:34 So they want to sell the business onto new owners. Okay. So what's the price point in this one? The price point is only 69,000.
2:43 So it's a low entry business and can be really built up and make really good profit from it. Well that's a seriously low entry point for anybody getting into business.
2:53 So quite exciting. Now tell me about COVID because you can imagine with the entertainment centre probably being closed for some period.
3:00 So it's a very good period of time and the local businesses with their staff working from home. It may have been lean for them and maybe their figures are going to reflect that.
3:07 But I imagine that's all well, you know, past us now. How did they go through COVID? Yes. So what was affected in the past, you know, businesses in that area and tram users were affected and functions at the Adelaide Entertainment Centre.
3:21 So it certainly was but we're out of just about COVID now. So there's huge opportunity for new owners to come in and really build the business up.
3:30 Thanks Mark. Now with this business, was there anything that stood out to you that might be a particular risk? Anything that might be different to any other style of business?
3:40 No, not really. There's very few risks. The lease is coming up, but the government department has already said that will be renewed and they're happy to renew it and have set out the terms and conditions for that.
3:55 So obviously new owners need to make sure that new lease is in place. That would be the only risk with the business.
4:02 Okay. So that's actually quite positive. The new owners will receive a new lease in their names going forward. Fantastic. Now Mark, you've been around a lot of businesses.
4:12 You've owned your own businesses and you're a successful business coach for many years now. What do you see as the big opportunity or opportunities with this one?
4:20 I think the opportunity to grow it and the catering and also the return of more functions that the Adelaide Entertainment Centre.
4:30 That's a real feature for this business. So is the business essentially ready to continue on as business as usual or is there a some type of cap-ex or capital requirement in this particular business?
4:42 No, it's got everything it needs to operate well and take it to that next level. Okay. So it sounds like the big opportunity in this one is to look at those opening hours and then focus more on the functions and the catering side of the business.
4:57 Yep. I think that and just, you know, to build a new business. And then build up the local clientele. There's businesses around there commercial area and of course able to use the tram.
5:07 So there's potential in a number of areas. Okay. Mark, how does somebody find out more about this business and connect with you?
5:13 Yes. So you can go to the obvious deal room and have a look at the business there. There's a comprehensive information memorandum that they can view and if they contact myself, Mark Carn, that all this is the deal room.
5:26 I've got further documentation. I can also pass onto them. Time today, Mark. Really appreciate you representing this one to us.
5:33 And if you'd like to hear more from our listings, please go to our other podcasts. If you'd like to connect with Mark, don't forget, mark.com at albizsales.com or connect via our deal room at albizdealroom.com.au.
5:47 Thanks again for listening.