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For Sale:
CROW’S NEST CAFÉ & BOUTIQUE
BAKERY $85,000 USD
Q.
Are you
a water-activities person?
Q.
Your partner? Business associates? Water-activities?
Q.
What about deep-sea sports-fishing?
Q.
Do you enjoy meeting new people; getting to know them?
Q.
Do you have a food affinity, and some cooking ability?
Q.
Perhaps you possess some small-business expertise?
Q.
A creative, ‘think-on-your-feet’, learning type of person?
Q.
Considering a life change? Perhaps a ‘sea-change’?
Q.
Dreamt of ever ‘escaping’ to the South Pacific?
It is all about lifestyle; just imagine the South pacific in all its glory, almost at your doorstep. The protected waters of the Vava’u Island Group make it a yachties Mecca known worldwide. Sailing, fishing, snorkeling, diving, whale-watching, swimming with the whales, camping (very few nasty creatures in Tonga!); or what about cocktails at one of the beach resorts nearby? It’s like being on holiday all year round! However, the tropical island ‘holiday’ lifestyle is certainly not for everyone. It can even get boring in paradise! So why not keep yourself occupied; own/operate two businesses (currently connected), to support not only your South Pacific dream, but also maintain your business-thinking activity? Keep that brain active! A ‘Pacific’ lifestyle supported by the Crow’s Nest Café/Boutique Bakery; it sounds fantastic … it is! Just imagine the Vava’u Islands in the Kingdom of Tonga, a tropical paradise, you sitting in a rather quaint, cafe/bakery, located just a hundred yards or so from the harbour, earning a reasonable income while enjoying the atmosphere. A café where repeat business is the house specialty and word-of-mouth advertising is one of its greatest assets. And it’s all yours! Crow’s Nest is and will continue to be a Vava’u success story. With your new ideas one can only speculate as to the future Crow’s Nest operations. Will it remain the combination of two businesses (café/bakery), or will it have expanded into other areas? The possibilities are only an imagination away.
THE CAFÉ
With its enviable reputation for excellence, this ‘pacific-feel’ breakfast/lunch café in Vava’u caters for the discerning eater. It’s certainly one of the more popular ‘eating’ establishments in town. Simply put, the Crow’s Nest food does the “talking”. “Reputed” to have the best burgers in town (beef, chicken or fish), the Crow’s Nest menu also features a variety of dishes that maximise the potential of available ingredients. A favourite with the tourists (fly-ins) and visiting yachties (cruisers) alike, Crow’s Nest is also very popular amongst the local expatriate and Tongan residents. Crow’s Nest regularly caters to the needs of many restaurants, bars, resorts, ‘whale-watch’ day charters and fishing tournaments and provisioning for departing yachts has become an important part of the Crow’s Nest business.
THE BAKERY
Customers rave about the Crow’s Nest baked products. Currently the range includes many different types of bread (wheat, multi-grain, rye, cinnamon & raisin, coconut), bagels, a variety of lunch & dinner rolls, cinnamon buns (famous for these!), and a selection of muffins, cakes, pies, brownies and cookies … etc. So you think you might open for dinner? The dessert menu is easily taken care of!
CROW’S NEST CAFÉ/BAKERY DETAILS (Approximate dimensions)
ADVERTISING & BUSINESS POTENTIAL
While this business is very popular and a good income generator, there is still plenty of room for growth and improvement. As the new owner(s) of Crow’s Nest you will probably want to make some changes. With all due respect, here are a few additional suggestions to whet the appetite, that don’t require major capital input (in no particular order).
All current advertising, marketing and stationery templates will be supplied.
CROW’S NEST CAFÉ/BAKERY LEASE An extremely ‘clean’ lease, unlike many in Vava’u; there are no hidden traps (fine print & ominous clauses) to come back and ‘bite’ later. Based on other similar property leases, the property in which Crow’s Nest is situated has a current market value of between T$800-900 (Tongan Pa’anga) which is approximately $400 USD per month. The negotiated lease is set at T$650 per month until the end of 2013, the $$ value of the savings as a result is evident. The current lease is renewable (incumbent tenant has ‘first right of refusal).
BONUSES
TRAINING Worried about your café/restaurant experience? Don’t. The current owners, Steve & Tess are from VERY non-restaurant backgrounds (Telecommunications and Corporate Training). A willingness to slow down, relax, adapt, learn, and an affinity with cooking is all you need. Steve & Tess will ensure you are thoroughly trained and comfortable in your new venture. WHO THIS IS THE PERFECT OPPORTUNITY FOR Crow’s Nest is an ideal entry-level business by which to develop your pacific adventure and the exciting challenges it creates along the way. There’s a lot to learn and it’s not always easy. By purchasing Crow’s Nest, you are not only purchasing two separable (and sellable) businesses, but also a steady and sufficient income. This ‘supported’ lifestyle package is perfect for a couple, or even a motivated individual. The importance of having a life rather than a ‘job’ should be high on your priority list, as is the desire to make your ‘sea-change’ move as uncomplicated as possible. You don’t want the struggle of creating a new South-Pacific business (avoid 90% of the pain!); this is all about less stress. This is not a high-risk, high-reward investment, nor is it an 80 hours/week ‘grind-it-out’ for a meager living, business. What it is is a fun and profitable business that can be run by a manager and a few trained staff, and staff are very inexpensive! It’s a business that allows its owners to have fun at work, work the hours they want, and make enough income to sustain a fun and relaxing lifestyle in paradise.
ADDITIONAL INFORMATION Q. Why are the owners selling? A. They have another project they wish to proceed with in the near future. They need capital.
Q. The business was first advertised at an asking price of $150K USD; what has changed? Why is it now $85,000 USD; almost half price? A. Originally, the package included a long-term home-lease connected to Crow’s Nest. Incorrect criticism regarding the possible misleading nature of this inclusion (the “suggested purchase” of a house) led to its removal (the only change). The value of the house-lease was not significant. As mentioned, the current owners need capital to proceed with their next project. There is a significant opportunity-cost associated with extended delays in their plans, the value of which is being extended to future buyers of the Crow’s Nest Café/Bakery. No real-estate agents’ fees are now applicable. This saving is being passed on as a decrease in the purchase price. Any dealings are directly with the Crow’s nest owners (Steve & Tess).
Q. Can the asking price be justified? A. The simple answer is yes. The normal valuation ‘guidelines’ for purchasing a business are applicable, but lifestyle-value does not normally enter the equation. What is your reason for considering a move to the South Pacific and what is the value of what you personally stand to gain? Crow’s Nest is a business that objectively values at around the $75,000 USD mark, but the real value is in the pacific lifestyle it enables you to realise. By purchasing a business in Vava’u you also circumvent much of the long-term visa pain. Establishing and building up any business and its associated reputation is difficult, anywhere. The added complexities, and there are many, involved in achieving this in Vava’u increases the subjective component of the overall Crow’s Nest Café/Bakery value. Consider where you are now … why are you thinking of escaping? What is your ‘escape-value?
Q. Is the purchase price negotiable? A. At the original advertised selling price some negotiation was expected. However, considering the current asking price, the current owners respectfully suggest that there be no need for any negotiation; the value is quite apparent.
Q. What about Crow’s Nest financial details? A. Yes, certainly available. As with most small businesses, the owners might need a few days to update them before emailing them to you. A confidentiality agreement will need to be formalised before emailing any details.
Q. What does the Crow’s Nest Café/Bakery look like? A. You will have seen the photos. The garden has grown somewhat and there is now a passion-fruit vine along half of the building … yes we get plenty of fruit along with the variety of herbs that now grow in the garden.
Q. Why is Crow’s Nest not open in the evenings? A. No business-reason why it doesn’t. The owners decided to have some ‘life’. Similarly, many businesses in town operate 7-days per week in the tourist season; the Crow’s Nest owners have Sundays off, even though it would make ‘profit’ sense to open.
Q. What are the seasonal
characteristics of Vava’u? A. Tourism peaks during Jul-Nov with the peak ‘bubble’ being Aug-Oct. 60-70% of the annual revenue is realised during this period. During this ‘season’ the tourists tend to primarily consist of cruising yachties, sports-fishing enthusiasts and whale watching/swimming groups. Backpackers tend to visit all year round with an increase during the main season. If you feel inclined, the peak season is the best time to visit for investigation purposes. Firstly your holiday will combine business with pleasure. Why not experience Vava’u in full operation; enjoy what Vava’u has to offer, experience the humpback whales and the many other water-based activities available.
Q. What about the cost of living in Vava’u? A. Home & business-premise rentals, local labour, local produce, and land leases are inexpensive. Almost everything else is imported so don’t assume that Vava’u is a cheap place. If ‘paradise’ was cheap everyone would be here! Overcrowding is not an issue in Vava’u and a two-storey building is considered ‘high-rise’.
Q. Interested? What’s the process? A. A $1,000 USD ‘holding-deposit’ will secure your ‘FIRST-OPTION’ status for a period of 30 days, during which time you will probably visit Vava’u to familiarise yourself with Crow’s Nest and formalise matters contractually. Please contact Steve for details. The ‘holding-deposit’ is non-refundable, but will be credited against the full deposit (10%) that is payable within 7 days of signing the purchase contract. The signed purchase contract may be deemed ‘null and void’ should the full deposit not be received within 7 days. The balance of the purchase price is payable in full within 30 days of signing the purchase contract. On receipt of full payment … your Pacific adventure begins.
Please Note: All inter-bank transaction fees are the responsibility of the purchaser.
IN CLOSING Let’s talk about your South Pacific ideas. Between us, we can make those dreams a reality. No doubt you have many questions … so why not contact Steve & Tess today!
By Email: crowsnestcafe@gmail.com By Telephone: (+676) 757-4450 or 757-4451
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