Question:
Do you dream of running your own business, but the startup phase seems daunting? How about acquiring an existing business that is already profitable and comes with it's clientale base?
Business Profile:
Fey Day presents a popular Chinese family restaurant with more than 33 years of operating history. The restaurant has a nice and cosy ambience that customers loved!
The business is well run and enjoy frequent patronage from regulars. The business has more than 800 positive reviews across Google, TripAdvisor and Facebook. They appeared on newspaper article and more than 10 food bloggers webpage. They relied mainly on regular customers, word of mouth and to a lesser extent, unpaid write ups from food bloggers. Their sales are seasonal, with Chinese New Year period, May, Children school holiday being the peak.
To learn more about the business, please visit the webpage below:
https://www.feyday.com/business-listings/popular-chinese-restaurant-for-sale!-(rare)
Summary:
A popular and profitable small Chinese restaurant is presently looking for a General Manager to take over and operate, due to the owners' old age.
What do you need to do?
- Assess businesses that interest you
- Acquire the business the fits your criteria and skillset. (Using your own resource)
- Learn from the existing owners on how to operate the business.
- Take over the business and operate it yourself.
- Grow the revenue and bottomline
Benefits of acquiring existing business
- Skip the product market fit and starting out phase. (High risk phase)
- Manage a profitable business right at the onset.
- Don't worry about office politics, retrenchment and lack of career progression.
Cost of being an acquiring business owner
- You will have to come up with the financial resources to acquire the business.
- Be prepared to work really hard for the dough.
- You are 100% responsible for the business outcome.
If you are looking to buy or sell businesses, please visit: https://www.feyday.com
Macgyver Ng Teow Poh
EA License No: 23C1562
Registration ID : R1113526
