SOLD! $90,000 ABOVE ASKING PRICE! - Eastern Suburbs Sydney

Business Headline : SOLD! $90,000 ABOVE ASKING PRICE! - Eastern Suburbs Sydney

Price : $260,000

Category : Education/Training, Other, Child Care

**ATTENTION CHILD CARE VENDORS**

This under performing prime located Child Care Centre has sold for $350,000, $90,000 above the asking price, with a 3 + 3 lease term. A great result achieved for the Vendor and the experianced operator. 

CONTACT LIAM HENNESSY TODAY FOR YOUR SALE CONSIDERATIONS

------Listing details as advertised below------

This Child Care Centre is approved and licensed for 39 places, although currently operating at 29 places. Literally next door to a primary school in an Eastern Sydney suburb.  

About the centre

The centre started operation in 2014 in which has performed exceptionally well during the first 2 years of operation with the centre reaching capacity at 39 places with a waiting list. 

Over the past 2 years, the Child Care centre has experienced mismanagement which affected the centres operation, decreasing occupancy and therefore turnover and minimal changes to expenses proportionate to revenue, effecting profit. 

This is due to a turnover of centre managers, not adjusting expenses according to turnover and the company owner not having the time available to manage and monitor both of their Child Care Centres. 

For this reason, the centre owners decided to reduce the number of operating places from 39 to 29. 

The current owner is also selling another centre licensed for 28 places in South Eastern Sydney. 

Summary

• Approved for 39 Places


• Currently operating at 29 places 


• Run under management


• Next to primary School


• New Lease to be provided upon sale


• Onsite Parking


• Compliant with EYLF (Early Years Learning Framework)


• Operating since 2014


• Potential for high occupancy growth, revenue and cost savings


• Very low rent in proportion to achievable turnover


• Further cost savings for an owner operator 


• Landlord, Scouts Association of Australia

Ideal Purchaser

To bring the centre back to its thriving status

• Needs a focused, passionate owner operator,
  
  and/or
  
  


• An experienced centre/business development manager from an existing Child Care company to add to its portfolio
  
  and/or
  
  


• Consolidating with a centre/group in the area to maximise the economies of scale 

To receive further information please complete the below registration: http://www.abbagroup.com.au/?p=4801313#enquire-now

Annual Rent : $45,531 -
Weekly Rent : $876

Annual Turnover : $356,806 -
Weekly Turnover : $6,862

Annual Gross Profit : Not Disclosed -
Weekly Gross Profit : Not Disclosed

Annual Ebit : $120,000 -
Weekly Ebit : $2,308

Premise : New lease to be provided

Lease Commencement : Jul 2014

Lease End : Jun 2016

Lease Option:
3 years

Franchise : No

Year Purchased : 2014

Year Established : 2014

Days Trading : 5

Staff :
2 Full Time - 1 Part Time

Reason for Sale : Reconsolidation of assets and holding groups’ company structure

Location : Next to primary school in growing Eastern Sydney Suburb

Business Potential : High potential for occupancy growth, revenue and cost savings – Maximise DA and license according to land size – Utilise marketing and advertising activities

Parking Comments : car - On premise parking