Elegantly Appointed Restaurant & Banquet Hall
Elegantly Appointed Restaurant & Banquet Hall East Bay — San Francisco/San Jose
Tasteful décor, open and inviting ambience, spacious dining room, service bar, over-the-top kitchen, friendly hosts, vibrant conversation … and currently a multi-regional India menu, but capable of offering any cuisine in an upscale fine dining venue, with adjacent banquet hall.
The restaurant is open for lunch and dinner, seven days a week, serving many unique dishes prepared from their own original recipes. They enjoy a consistent and loyal clientele, with many guests dining weekly or more frequently. It’s common to find large parties of extended families and friends. In addition to the main dining room, an adjoining banquet hall with a separate entrance is the frequent venue for wedding receptions and other large gatherings. This fine restaurant treats its guests with subtle charm, friendly service, and distinctive south Asian cuisine.
Opened in 2011, the business has grown steadily, grossing high six figures. They accept credit and debit cards, and also enjoy significant cash sales. Revenues are derived from the regular patrons in the dining room, the frequent large parties in the banquet room, and off-site catering. The restaurant will soon offer wine and beer—sure to increase the customer base, revenue, and profit.
This business is “turn-key” and can seamlessly transition to a new owner, certainly with absentee-owner potential. The addition of the wine and beer license will expand its clientele from its current ethnic and family base to the many corporate business personnel in the immediate vicinity.
The restaurant is located in the east San Francisco Bay area, in an expansive strip mall, convenient to major highways and scores of large business complexes and retail stores. All together the property comprises 6,236 square feet with a monthly rental of $13,260.00 (gross).
The forthcoming wine and beer license will be easily transferable. The furniture, fixtures, and equipment have an estimated replacement value of at least $210,000, including procurement costs. A vehicle used for catering is available separately. In addition, the leasehold improvements cost $280,00
Financial History: Seller reports gross sales in 2014 of $720,000. The restaurant has been operated by the owners with business and personal finances intermingled; gross revenues and fixed rental and occupancy costs are available, but no other cost, operating, or profit data.
The Transaction: The deal structure will be an asset sale. The reason for sale is the sellers’ desire to pursue other business ventures. The owner would agree to stay for a brief reasonable transition time at buyer’s option. The asking price is $125,000—plus food and supply inventory; this includes all assets, including the listed FF&E, good will, name, customer records, etc., but excluding accounts receivable, accounts payable, cash, wine and beer inventory (available separately), and catering vehicle (available separately.
Note: All data on this business are provided by the Seller for information purposes only, and no representations are made by Broker as to accuracy. Broker has made no independent verification of the data contained herein. Buyer is advised to perform its own independent due diligence and seek the advice of professionals prior to purchasing the Business.