Retail - Restaurants | Retail - Bars/Taverns

$Seller Financing Available

Asking Price	$475,000	Inventory	$7500*
Gross Income	$285,000	Real Estate	$317,000*
Cash Flow	$21,500	Year Established	1999
FF&E	$50,000*	Employees	2-4

* included in the asking price

** not included in the asking price

Upscale Continental restaurant in historic waterfront town. Building (included in price) has been beautifully restored; tin ceilings, leaded glass, wood floors. Restaurant has a loyal following of locals and is recommended by the five B&Bs within 1/2 mile. Custom bar (with full service), al fresco dining. Town is an upscale tourist mecca featuring art galleries, historic buildings, magnificent architecture and a fabulous deep water harbor two blocks from the restaurant. The current economic slump has depressed sales. Revenue in 2007 was $285,000; in 2006 it was $367,000; in 2005 it was $449,000; and in 2004 it was $483,000. As the economy improves, revenue will get back to normal. It may be possible to purchase the business without the real estate.

Facilities: Fully equipped upscale Continental restaurant with full bar and 40-50 seats. Custom made bar and back bar. Computerized check system. Seller owns the building (which is included in the price) but will consider selling the business only and lease the building to the buyer, possibly with an option to buy.

Competition: The business has a prime location fronting on the main street - in the middle of the main commercial district - of a very popular historic waterfront town with lots of walkers, both locals and tourists. Serving lunch until 2.30 and dinner starting at 5.00.

Growth/Expansion: Current owner offers space for local artists to display their works and enjoys a consignment commission (not included in the revenue numbers) on the sale of such works. A second floor can be added to the building for apartments, condos or offices.

Seller Financing Available: Yes

Support/Training: Seller will train as required

Reason Selling: Owner has owned the business for 10 years. It's time to move on.