. Hyde Park Foodworks, HYDE PARK 5061
Food/Hospitality for sale
Hyde Park Foodworks
Hyde Park Foodworks is located on King William Road in Hyde Park on one of Adelaide's most popular retail strips. The store has been operating for some 30+ years as a supermarket with a more recent change to the Foodworks banner under new ownership in late 2013.
The new owners took over a very poorly run store and proceeded to change its appearance and its viability. The new owners have rebuilt its reputation for service, quality and range. Upgrades include new flooring, lighting, a 6-door inbuilt freezer and compressor, new compressors to run the dairy fridge, expanding the Fruit and Veg section in size and offering, full store relays and very recently a new deli case.
Hyde Park boasts excellent demographics with a concentration of people with high disposable income supporting high end gourmet items with an average of 2,700 customers a week and a consistent turnover. The average GP for the store is 30% which is well above the industry averages of 22%-24%.
The store has 11 parking bays for its customers on the side and to the rear of the premises and is monitored by a number of security cameras inside and outside of the store.
At a glance:
- Recently re-branded and upgraded
- 2016/17 sales $1.8 million
- Average gross profit for the store is 30%
- 2,700 customers per week (average)
- Good location among excellent demographic
- Parking to side and rear of store
- Business Category: Food/Hospitality
- Business Sub Category: Supermarket