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Buyer interest baked in as landmark Christchurch business goes up for sale

A landmark Christchurch bakery, café and decorated cakes business with a reputation built up over nearly four decades is up for sale with exciting possibilities for further growth.

The award-winning Kidd’s Cakes and Bakery operates from modern, purpose-built premises on a busy main thoroughfare carrying traffic to and from central Christchurch and the Christchurch Northern Corridor motorway.

The business has multiple revenue streams from across-the-counter sales of baked goods, plus a café, and online and in-store sales of decorated specialty cakes. It also provides catering for functions, corporates and special events.

Together, these activities generate a turnover of more than $50,000 per week.

Further expansion is possible by growing the catering or wholesale operation, and by extending the café’s operating hours or making fuller use of its existing licence for the sale of alcohol.

The business sustaining Kidd’s Cakes and Bakery, located at 254 Cranford Street, St Albans, Christchurch, is being marketed for sale through Kate Mullins of Bayleys Canterbury.

It will be sold by way of a deadline sale closing on Thursday 29 February (unless sold prior).

Mullins said Kidd’s Cakes and Bakery was a proven performer that had become something of an institution in its high-profile location, with a name synonymous with service, value and quality.

“Built up over 37 years and now on offer to buyers for the first time, this is a successful, well set up business with proven revenue streams. It comes with experienced personnel and established supplier relationships, operating in a purpose-built manufacturing, retail and hospitality facility.

“From humble beginnings in a converted garage, the owners have driven impressive expansion over the years, gaining a loyal following and numerous awards along the way. With retirement beckoning, they are now ready to pass the baton to new owners – along with the potential to further grow operations and revenues for the future,” Mullins said.

The retail bakery counter accounts for around 60 percent of revenues. This serves a wide range of food made on-site, including pastries, filled rolls, sandwiches, salads and cakes as well as ice creams, coffee and cold drinks.

A further 20 percent is derived from the café, which serves a popular breakfast and lunch menu from 8am to 2pm daily.

The decorated cakes operation provides most of the balance of revenues. This produces cakes for all manner of occasions via online orders and over-the-counter sales.

Further details on business performance are available to potential buyers subject to signing a non-disclosure agreement.

Mullins said some 32 existing full and part-time staff were available, providing new owners with valuable business knowledge and continuity.

The two retiring owners currently work Monday to Wednesday with their son as General Manager.

Kidd’s has since the 1980s been a member of the Baking Industry Association of New Zealand, through which it has won industry awards. Membership also gives operators access to legal and employment services and resources and templates such as a food safety plan and employment contracts.

The more than 740-square-metre Cranford Street premises with 34 car parks will be available to a new operator under a new 10-year lease, with two further 10-year rights of renewal.

Mullins said the vendor was also open to discussing inclusion of the freehold premises as part of the sale.

“The two-storey premises were thoughtfully designed and built to modern standards in 2014, providing a spacious working environment for staff while beautifully providing for customers’ needs.

“The site also generates signage income and will soon earn rent from a second tenancy, with council consent pending for a hair salon to operate in the building,” Mullins said.

The ground floor contains the retail bakery, cake decorators’ area, café and café kitchen, along with a courtyard and playground, chiller room, sandwich-making area and public amenities.

Upstairs is the commercial bakery, chiller and freezer rooms, a dry store, administration offices, staff toilets, a shower and a staff room.

The building is fully air conditioned with steam extractors and fresh air vents to the first-floor bakery and heat pumps to the offices.

Mullins said Kidd’s established reputation in the area and the potential for further expansion were key attractions for new owners.

“Trading in this area since 1986, Kidd’s is a proud and commanding presence on Cranford Street.

“The business comes with proven and successful systems, processes, suppliers, recipes, loyal clientele, brand name and reputation. It holds a strong market position yet still has so much future potential due mostly to the forethought and planning that has gone into the purpose-built facility.”

Click here for more information on the listing.

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