Best BBQ in area

Panama City Beach, FL (Bay County)

food items

Asking Price:$245,000

Cash Flow:$65,000

Gross Revenue:$910,000

EBITDA:N/A

FF&E:$291,962

Inventory:$4,000

Rate/Sq. Ft.:$2.90

Established:2015

Best BBQ in area

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Business Description

A BBQ Restaurant in a high traffic shopping and resort area close to Panama City Beach condos. Most restaurants only have two revenue streams. Your new business has six revenue streams.using a successful business model that has worked for almost 75 years!
Your revenue comes from dine-in, take-out, online ordering, holiday meals, catering, and retail items. A restaurant concept that is authentic, inviting and well planned.
Note: finances are annualized based on the few months open, due to seasonality they may be understated (business is just now going through its first peak season).
Seller says he needs to move on, Great price at $160,000! Save several hundred thousand buying this instead of new franchise.

Detailed Information

Inventory:
Included in asking price
Real Estate:
Leased
Building Sq. Ft.:
N/A
Lease Expiration:
N/A
Employees:
3 ft, 10 pt
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Located in a prime retail area, a fully equipped BBQ pit restaurant. The rent currently is $5,465 a month for 1980 square feet, in a new building, plus $947 for common area upkeep. Equipment is less than a year old. Lease is for 10 years with 9 years left. The business has a seating capacity of 60+. The price includes a catering van valued at $10,000.
Competition:
Located in the premier retail area of the beach, drawing both tourist and local traffic throughout Bay County and beyond. A dine-in and take -out barbecue restaurant with unique online ordering, serving the Bay County area that features mouthwatering, lip smacking, great tasting barbecue since 1941.(note this is new location opened in August 2015, revenue is project for annual) All of the meats are slow smoked in hickory wood burning pits to tender perfection on site and served with delicious sides that are prepared fresh daily.
Growth & Expansion:
With the purchase of this business you also get the rights to Panama City and to Destin, FL.. From the present location and future locations expansion can be quickly achieved with delivery expansion.
Support & Training:
An intensive four-week training program that teaches the skills needed to open and operate is provided.
Reason for Selling:
owner has other interest

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Lewis Floyd

Business Listed By:
Lewis Floyd

Destin Business Brokers

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Sponsoring Broker:
Theodore M. Perkins, Jr.

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