“Bringing Mid-Market to Main Street” Most Middle Market M&A firms only consider transactions with valuations in excess of $20 million. Due to their structure and overhead, they tend to concentrate on larger deals and prefer not to be bothered with the challenges of smaller, family-owned companies. Traditional Business Brokers handle the sale of small retail and service “Main-street” businesses, typically with revenues of under $1 million. While these firms may attempt gain listings within the lower middle-market, they typically lack the knowledge, sophistication and resources to represent these business owners in the best possible manner. In the end, this approach often proves very costly for the business owners these brokers claim to represent. MidStreet was founded with the intention of addressing the under-served market that falls between these two segments, thus providing lower middle-market, privately-owned businesses with a level of representation previously made available only to much larger companies.
This business is being run absentee and Gross sales in 2014 were about $815,00 per year. Sales at this location have been as high as 1.4 million (2007) and In 2012 the business did $1,040,000 in sales and showed a net profit of $80,000, including a $8,000 add back for interest expense. These figures are from the tax returns and do not include any additional add-backs for business 'perks". In September 2013 the business underwent a rebranding from the former "Sunset Grille" to the current 58Fifty Bistro. The former was more alcohol driven and the current business is about 50%/50% food and alcohol. Food cost is currently very high coming in at around 39%, leaving lots of room to add money to the bottom line with a focus on re-engineering the menu items as well as better cross-utilization of product. Our kitchen manager is honest and has been with us several years. We believe that our high food cost is due more to his inexperience managing food cost than anything else. We are currently working with a restaurant consultant on a plan to increase sales 20% in the next 90 days. When the initial phase of the rebranding is complete we will be back to 2012 sales numbers. This plan includes some interior changes to create an atmosphere that allows for more socialization among guests as well as a menu that includes more signature items from fresh ingredients. In hindsight when we changed from Sunset Grille to 58Fifty Bistro in 2013 we moved too far toward a sit down restaurant and that change did not resonate with our guests. For example, we traded a vibrant football crowd for a Sunday Jazz Brunch that never gained momentum. The bar/restaurant needs the fun factor reintroduced while maintaining and improving our solid food menu. Our efforts to improve food quality during the last 18 months have resulted in wings sales dropping 40% and entree sales increasing over 100%. Wine sales have also seen double digit increases during the same period of time. We are active on social media and have over 2200 followers. We offer live music on Wednesday and Friday nights as well as a karaoke crowd on Saturdays. Our biggest opportunity to increase sales exists during lunch hours as the majority of our sales come after 5pm. Social media: Facebook https://www.facebook.com/58fifty Twitter https://twitter.com/58fiftybistro This business does more sales than 80% of the listings in the same category and really just needs an owner who wants to be on premise every day to help move this business toward great profits. We are motivated to sell this business and are willing to consider an operating partner who has a minimum of $25,000 to invest. If you have experience in the industry and a desire and drive to own your own place then this might be the opportunity for you. In the end it is our desire to be out of this business so we can focus on our other businesses. In addition, we are dealing with some health issues that have effected our involvement in the business. My wife and I are honest people with a high degree of integrity. We are only interested in dealing with people who have the same values. This is not a get rich quick scheme, but it is a fantastic opportunity for someone who is willing to put in some hard work. Owning a restaurant/Bar is exciting and provides much satisfaction and lots of "perks".
One of the most popular family style pizzeria's in the Triangle. Long standing tradition has been earned the old fashioned way. By making a good pie at an affordable price and keeping the customers happy. Able to handle the crowds with dining room that seats 60 and 4 flat screen TV's plus outdoor seating and a fully equipped kitchen with 4 pizza ovens and walk-in cooler.
Dine in or Take Out Chinese restaurant is for sale in a busy shopping center in the heart of RTP. Add delivery (and/or beer & wine) to watch sales explode. The restaurant is 2,610 square feet with 80 seats and a full kitchen, perfect for a owner/operator or family owned business. Rent is locked in at $14.50/psf for the next 5 years, there is an additional 5 year option should you choose to extend it further. Can be any concept, facility is up to code, very clean and ready to go for you TODAY. Call now to make an offer.
Durham County, NC
The business is a casual family restaurant franchise in one of the fastest growing areas in North Carolina. This fast growing concept would be great for an experienced GM that wants to own his or her own business or a novice to the food industry that would want to reduce risk with the assistance and support of a franchise. This is a prime location. Growth in the area as well as word of mouth is helping this business grow significantly. A new location would cost more than twice as much to open without a proven, profitable sales track record. This is a turnkey opportunity that prevents the buyer from going through the build out pains. Customers can receive food quickly and move out to make room for the next customer. Take out and catering help increase the bottom line. The total revenues are $687,000 and a very attractive selling price of $168,000.
Boyd & Associates is pleased to offer this Established Char-Grill franchised restaurant and business in booming Durham area with Harris Teeter anchor, at a price less than cost to build out. Excellent condition, shows nearly new. Excellent Franchise with training for Buyer, and opportunity to get in turnkey. This Char-Grill also has a unique local craft brew Beer Bar kiosk with a separate entrance, which can come with sale or not. Please do not approach staff or management. Contact Broker for more details. Excellent high traffic location in newer S.C. Hope Valley Commons with Harris Teeter anchor and thriving tenant base.
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