SLASHED PRICE: Destination Restaurant

Litchfield County, CT

SLASHED PRICE: Destination Restaurant

Asking Price:$350,000

Cash Flow:$188,296

Gross Revenue:$2,107,758

EBITDA:N/A

FF&E:$125,000

Inventory:$52,000

Established:1993

SLASHED PRICE: Destination Restaurant

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Business Description

For 23 years, this well-known chef-owner has built an institution delivering the innovation and quality that modern diners crave. Retirement beckons and this full-service, 170-seat, destination restaurant is being discretely marketed to qualified buyers. Meticulous books and building--grossing over $2mm in a quaint, southern Litchfield County Connecticut town located just 70 miles from New York City.

Detailed Information

Inventory:
Included in asking price
Employees:
10 FT / 33 PT
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
3,728 sq ft Restaurant/Commercial Condo. Signaled property shopping center -Zoned MQ-F.
Competition:
Four-month, interim 2016 financial performance shows results up over 10%. We have also reduced the price to $350,000 for the business and are offering the buyer the option to lease or purchase the building.
Growth & Expansion:
Through all economic cycles this restaurant has consistently generated over $2mm in revenues, positive net income and six figure cash flows to its owner. Taking into account the FMV of the furniture, fixtures, equipment and leasehold improvements, we are offering this asset at a fraction of its annual cash flow with the knowledge the buyer will likely re-position the business while taking advantage of it's 25-year reputation as regional dining destination.
Financing:
Lender pre-screened w/ $70K down.
Support & Training:
Will train for 4 weeks @ no cost. Full liquor license included per CT laws and regulations.
Reason for Selling:
Retirement.

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Alan Zinser

Business Listed By:
Alan Zinser

Murphy Business & Financial Corporation

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