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Two Established Restaurants & 18 Room Guesthouse in Central Pattaya

Ad Description

*** Reduced 3,000,000 from 18,000,000 to only 15,000,000 ***

A well-known and established 'turn-key business & investment opportunity' in the very popular central Pattaya area of Soi Bau Khao, walking distance to Beach Road and the LK Metro entertainment area & only 10 minutes by taxi to the famous Walking Street. Buyers should expect a full return on their investment in under 2 years. The purchase price includes a 6 million Baht Thai company enabling up to 3 foreign work-permits, the annual company balance sheet was completed in June 2019 and available for viewing.

Established in 2010 now with a ‘combined annual turn-over’ close to 40,000,000 Baht this is a popular and very successful large business, potential buyers are welcome to review the past 4 years of detailed financial records from our POS system after completing a N.D.A. This ‘turn-key business’ is professionally run & maintained and in good order throughout with over 6 million Baht of ‘move-able assets’ included in the sale. Currently we employing 32 full-time staff including 1 Western Manager whom oversees the day to day running on-site. The experienced Western Manager has been with our business 5 years and is happy to continue is his current role or facilitate a hand-over period to the new owners.

Leases & Licenses

The rental is very low at 170,000 Baht paid monthly, there is no key-money or any hidden payments. There is a new 3 years rolling lease which commenced on the 1st September 2019 with a 3 year extension agreed, we have been at this location since 2010.

We have Guesthouse licenses, Alcohol licenses, Food licenses, Music licenses, all of which are current and up to date. We have two company bank accounts enabling us to accept Visa & Mastercard payments and hope soon to accept WePay & Ali Pay.

Guesthouse

There are 18 rent-able rooms fitted to a high standard generating an ‘annual turnover of over 3 million baht’. This comprises of 3 Jacuzzi Suites, 1 One Bedroom Suite & 14 Deluxe rooms, occupancy is around 75% thought-out the year. We invested 8 million baht on the original renovation installing new windows, high quality bathrooms, doors, new pipework though-out & electrical system, no expense was spared. All rooms are fitted with air conditioners, fan, large room safe, double beds with quality bedding, fridges, flat screen TV. Guests have their own separate secure entrance and all floors are covered by CCTV; we operate a ‘24 hours reception’ for customers convenience. We accept bookings via Agoda, Bookings, Expedia & our own bespoke website (https://www.steakcoguesthousepattaya.com). The rooms are serviced daily by our two room maids. There is also two additional rooms for staff accommodation on the roof of the building, a one-bedroom apartment for the manager & 1 x single room for the room maids.

Steak & Co. Restaurant

Refurbished in September 2014 with an additional investment of 3 million baht in new equipment, new seating and décor converting the restaurant from a Chinese restaurant to a steakhouse. Established 5 years ago Steak & Co. is Australian steakhouse specialising in imported Australian Angus, Black Angus & Wagyu Beef with an ‘annual turn-over of 21 million Baht’, the head Chef is Thai / Australian and been with us since opening in 2014. We have outside terrace seating area & a comfortable air-conditioned dining room. We have continued to re-invest heavily in the up keep of the business and recently purchased a ‘Quattro Pro 8 bottle Wine dispenser’ from Italy costing 600,000 Baht resulting in an increase 20% in wine sales. We enjoy preferential discounts with several major Premium Food & Beverage wholesalers which adds to our over-all profitability.

Smokin’ Joe’s BBQ Restaurant

We expanded our business in 2016 by completely renovating the adjoining building, investing 5 million Baht to overhauling the entire property and creating Smokin’ Joe’s BBQ a traditional American BBQ restaurant offering casual dining experience. There is an outside terrace and a comfortable open plan air-conditioned dining room. We have enjoyed massive growth over the past 3 years and the current turn-over for 2019 is projected to exceed ‘15 million Baht’ in 2019 an increase of 15% year-on-year, 2018 was 35% up on 2017. We open at 8.00 am for breakfast and serve American BBQ from 12 noon til 23.00.

Both restaurants offer food delivery via Grab Food & Food Panda with a ‘combined annual income of over 2 million Baht’ (delivery fees are added to the cost of the food & paid by the customers). Each restaurant received Trip Advisor certificates of Excellence is 2019 and previous years. We promote our business on social media using Facebook, Google Business & Instagram, in addition we have run local TV ad campaigns thought Inspire.

Included in the sale is a Nissan car & Honda motorbike used by staff for local small purchases & all stock at the time of completion & at least 6 million baht of commercial grade catering equipment, restaurant & room furnishings. I am selling this business to focus my efforts & resources in a business I am partnered with in Shenzhen, China.

To arrange a viewing email: ianbroooks@hotmail.co.uk or call 0849374732
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