43860-DV Southern Style Family Restaurant in Hampton, VA for $550,000

Hampton, VA (Hampton City County)

Seller Financing Available
43860-DV Southern Style Family Restaurant in Hampton, VA for $550,000

Asking Price:$550,000

Cash Flow:$300,000

Gross Revenue:$720,000

EBITDA:N/A

FF&E:$60,000

Inventory:N/A

Established:1985

43860-DV Southern Style Family Restaurant in Hampton, VA for $550,000

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Business Description

The premier southern style restaurant in Hampton, VA, specializes in hearty country cooking. Their dishes come from family recipes that have been passed down through generations. As a completely family-oriented restaurant, this is not a chain, nor will you find anything corporate about it. Their mom-and-daughter team-of-owners strives to provide patrons with the finest home-style cooking around. The family has been in the restaurant business since 1979.

Detailed Information

Employees:
6
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Good frontage in a strip shopping center operating Wednesday through Friday 11 AM to 8 PM and Saturday through Sunday 11AM to 5PM. The location is in the busiest commerce areas of Hampton and is close to Newport News (I-64 or La Salle Ave provide quick access). Their loyal and solid customer base includes families from the military and NASA community as well generations of “locals” in America’s “First Region”. Rent for the retail store is a low $3200/month for 2500sq. ft. with current lease through September 2017.
Competition:
• Current owners will train for four weeks. • Only authentic Southern Style Restaurant in local area • Generations of Recipes • Personalized customer service and commitment to quality • Great growth potential
Growth & Expansion:
The business is conveniently located close to interstate in a densely populated area. The offering of a unique menu with reasonable prices in a family atmosphere make this a solid business with positive growth potential.
Financing:
275000
Support & Training:
4 weeks
Reason for Selling:
Retirement

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Cobus van der Watt

Business Listed By:
Cobus van der Watt

Transworld Business Advisors of Richmond VA

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Sponsoring Broker:
Transworld Business Advisors CEO, Rupesh Bharad

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