Restaurant & Bar, Party / Banquet Facility

Newark, OH (Licking County)

Restaurant & Bar, Party / Banquet Facility

Asking Price:$75,000

Cash Flow:$60,000

Gross Revenue:$1,000,000

EBITDA:N/A

FF&E:$150,000

Inventory:$5,000*

Real Estate:$595,000*

Established:2000

*not included in asking price.

Restaurant & Bar, Party / Banquet Facility

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Business Description

Owner highly motivated to sell and has listed at a low price for quick sale. Loads of potential in an established and proven location.

This is an excellent opportunity to purchase an established restaurant / bar with a party / banquet facility in a great location. This restaurant's sales have been $1,800,000. With absentee owner sales have declined. Excellent opportunity to buy this restaurant and rebuild sales and profits.

This long-established restaurant and bar is close to Columbus in Licking County, located on a busy street with a mix of business and residential. The restaurant and party / banquet facility is located in attractive, free-standing building with a large private parking lot.

The interior has a large dining room and a bar room with large screen TVs and sports décor. There is a party / banquet room. Real estate is available.

Detailed Information

Inventory:
Not included in asking price
Real Estate:
Owned
Not included in asking price
Building SF:
N/A
Employees:
12FT; 6 PT
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Facility: This 9,000 square foot restaurant and party / banquet facility is located outside Columbus. It has a fully equipped kitchen, dining room and bar area and a party / banquet room. This restaurant and bar can be operated as is or easily transformed into any restaurant concept. The sale includes a D-5, D-6 liquor license. This kitchen has it all. Capable of producing food products for the restaurant, the party / banquet facility and off-site catering. The kitchen is fully-equipped and has a large hood, gas range, griddle, char grill, convection oven, fryers, chef’s station, sinks, worktables, walk in-cooler and freezer, as well as a large prep and staging area.
Competition:
This area is a go-to destination for dining. There are numerous other restaurants in the area that are highly successful and this restaurant benefits from being in the area with other restaurants. The market area demographics are ideal for a casual, full service restaurant and bar. Very few facilities in the area for private parties, meetings and banquets and the amount of available parking is a big plus. Only a few small catering operations in Newark, which provides an excellent opportunity for growing the outside catering business.
Growth & Expansion:
Past sales of the restaurant / bar and party / banquet facility have been over $1,800,000. This is an excellent opportunity to grow and expand the business with a fresh new concept, friendly and attentive service and good food. This restaurant can be transformed into any type of restaurant concept and business would boom with a new concept and marketing. Excellent potential for building on-site and off-site catering business.
Financing:
Available to qaulified buyer
Support & Training:
Support and training available.
Reason for Selling:
Absentee owner has other businesses that require full-time attention.

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Robert Welcher

Business Listed By:
Robert Welcher

RCI Business Brokers

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