Asking Price:

$100,000

Gross Income:

$200,000

Cash Flow:

$14,150

EBITDA:

$14,150

FF&E:

$50,000.00 *

Inventory:

$5,000.00 **

Real Estate:

N/A

Year Established:

1980

Employees:

6

Business Type:

Restaurants

** not included in the asking price

* included in the asking price

Business Description

Business is a Latino restaurant established in the past two years at a location formerly an Italian restaurant for many previous years. Located in an attractive brick building and incorporating 3,045 sq.ft. this restaurant has a full separate bar with full liquor license and two separate dining rooms plus a large full kitchen and basement. Seating capacity is 200. The phsical characteristics are exceptional. Rent is $2,950 per month with lease running to 2024 with options. The sales figures have not been strong during this severe recession but the asking price of $100,000 for the entire setup is easily justified for a professional restauranteur who possesses the necessary management skills at a time when the economy is improving. The seller recommends a buyer specialize in Argentinian, Columbian or Peruvian menus to suit the local market. Most of the existing equipment is included in the purchase price. Food & liquor inventory is extra.

Detailed Information

Facilities:

The major positives for this restaurant are its location and the quality of the physical facility. Located in an hispanic area the restaurant has been in existence for many years, primarily Italian in the past. The facility has 3,045 sq. ft. including two dining rooms, a full bar, full basement and seating capaciy for 200 customers. Rent is $2,950 per month with leases extending until the year 2024 uncluding options.

Competition:

Location is very good one for restaurants in a busy area. Competition is not a factor.

Growth/Expansion:

A return to better economic times will be the main factor in growth of the business.

Reason Selling:

Owner has another restaurant to run.