Retail - Restaurants | Services - Other Business Services

$Seller Financing Available

Asking Price	$1,700,000	Inventory	$10,000**
Gross Income	$1,287,722	Real Estate	$1,000,000*
Cash Flow	Not Disclosed	Year Established	1927
FF&E	$40,000*	Employees	2 ft, 21 pt

* included in the asking price

** not included in the asking price

Located on a beautiful island near Seattle, this is an opportunity to own a very profitable restaurant, bar, and (9) room motel business with property. The business and property are sold together as a package with the business valued at $700,000 and the property valued at $1 million. This business has weathered the ups and downs of the economy and proven extremely profitable for many years. This purchase has a very healthy debt service coverage ratio, meaning the buyer will have a much easier time getting financed by banks. The restaurant is a favorite to locals and tourists alike, and has won many awards. This establishment is filled with rich history and an enormous amount of goodwill. The operations are very well run with managers in place, allowing the owners to be out of town for months at a time if they choose. Normally, they work 30 hours a week doing general management and bookkeeping. Having owned the business and real estate for many years, the owners are retiring and looking for the right person to become the new owner.

Facilities: The location is perfect for someone who enjoys the slower pace of living on a beautiful island, yet minutes away from the city life of Seattle by taking the Washington State Ferries. The property sits on a half an acre lot. Seating capacity for restaurant: 98. Business hours are 6:30 am to midnight 7 days a week except Fridays and Saturdays when the business stays open later. The conditions of furniture, fixtures, and equipment are good. There is an on-site apartment that the new owner can occupy or rent.

Competition: This is an attractive purchase for 7 reasons: 1) The business is very profitable. 2) There are lots of repeat business, referrals, and goodwill. 3) The owner keeps excellent records to document profits to the owner.4) The island is beautiful for someone who enjoys island living. 5) The operations are very well run that the owner can be semi-absentee or completely absentee 6) Owning the property long-term allows it to appreciate. 7) The buyer can be financed by banks more easily due to the healthy profits.

Growth/Expansion: Continuing the profitable business the current owners have built is 80% of the secrets to success. The rest 20% involves growing the business through additional marketing, finance management, employee management, and perhaps enclose the deck to increase space to the pool room. Or, you can enjoy the fruits of the labors of the present owner and enjoy the privileges of ownership of a thriving business in a small town.

Seller Financing Available: Yes

Financing: Broker can assist Buyer in obtaining financing.

Support/Training: Negotiable.

Reason Selling: Owners are retiring.