Good times in full flow at The Rivers
In a prime spot on the T¯uranganui River in the centre of Gisborne sits The Rivers Restaurant & Bar, the city's favourite family-friendly Irish pub.
A rock-solid team is in place, with a number of the staff being with the company for many years.
The vendors, Melissa and Ian Murphy, have done a fantastic job alongside that team and have established The Rivers as one of the best in the area, allowing locals and tourists alike to come and enjoy cold beers and outstanding food with a great atmosphere.
Over the past couple of years, trading has seen the business hold a steady turnover in excess of $2 million a year, with the locals showing great support.
Sales have started to increase in recent months and numbers are now surpassing pre-Covid figures. Rent on the premises is only $69,000 (excluding GST) a year, around 3 per cent of sales, and a working owner or couple can look forward to a cash surplus of about $350,000.
The Rivers is a typical Irish pub, offering an extensive range of cold beers on tap and strongly emphasising quality food with generous portion sizes and friendly service.
Towards the back of the pub is a pool table and nine gaming machines, which bring in a steady passive income.
ABC Business Sales' Jeff Wiley says: “The Rivers is just one of those businesses you can't look past. It ticks so many boxes for so many reasons.
“It has traded through the pandemic with ease and is now seeing an increase in sales. Low rental costs with a strong lease mean that overheads are low no matter the financial climate. It's located in a desirable location surrounded by many hotels and motels and is only a short stroll to Waikanae Beach, making it an excellent option for tourists.”
The vendors have enjoyed great success over the past 12 years and feel the time has come for a new challenge in their lives. They feel the business is in an excellent position for someone new to take the reins.
The asking price for The Rivers is $1.1 million plus stock valued at $30,000.
Contact: Jeff Wiley, ph 021 555 384, jeff.wiley@abcbusiness.co.nz James Sheppard ph 029 770 4576, JamesS@abcbusiness.co.nz