Entrepreneurs invest many years building successful businesses. Selling your business, or buying an existing one, is a life-changing event. It is the mission of Truforte to help goal-oriented individuals realize their dreams. Our professionals have successfully handled hundreds of business sales throughout the USA for buyers and sellers. This provides valuable experience that better qualifies Truforte to help with the purchase or sale of your business entity. Business brokers are intermediaries who facilitate the sale of privately held businesses by working with both buyers and sellers. Confidentiality is critical to the successful transfer of a business. If it becomes known that a business is for sale, several things start happening and none of them are beneficial for either the seller or buyer of the business. Professional intermediaries are keenly aware of this and are experts at maintaining confidentiality. Truforte's professionals have decades of experience, handling the sale of hundreds of businesses in a wide range of size and industries.
2 year old family style restaurant for sale. Recently on a National TV show! Currently operating and profitable! Lots of potential here! Loved in the local community, we are proud to say that we are the #1 reviewed restaurants in the region on TripAdvisor, Yelp, and Facebook. We have been written up in the large Knoxville paper multiple times, and have even been on a National TV show! We have a growing catering business, with a guaranteed $50k on the calender already!6
SUMMARY • East Tennessee family restaurant and landmark since 1939 • 77 years of continuous operation • 43 years of uninterrupted profitability under current owner • 2015 sales of $757,000; net cash flow of $186,000 before rent, or $132,000 as-if leased • Sale price of $949,900 for restaurant operations and real estate; seller owns underlying real estate and will consider long-term lease at $4,500 per month (net) in lieu of purchase • Opportunity to substantially increase net cash flow through addition of breakfast/Sunday operations (currently open six days, lunch and dinner only) • Central location in historic downtown area of family-oriented, mid-sized city at the foothills of the beautiful Smoky Mountains INTRODUCTION The Little Dutch Restaurant (“Little Dutch”) is being made available for sale to qualified buyers. The Little Dutch, a family-owned and operated restaurant in Morristown, Tennessee, has been a local landmark since 1939. The restaurant has been owned and operated by Mr. George Angelos and family of Morristown since 1973. Mr. Angelos is offering the restaurant operations and real estate for sale in connection with his planned retirement. HIGHLIGHTS The Little Dutch (www.littledutchrestaurant.com) is a family restaurant that focuses on providing a variety of high-quality cuisine at a moderate price point. The restaurant enjoys an impeccable reputation throughout Morristown and the surrounding area as a result of its outstanding food, reasonable prices, personal service, and welcoming atmosphere. The loyalty and reputation that the Little Dutch enjoys in the community can be objectively measured through more than 40 years of uninterrupted profitability and a repeat customer base which accounts for an estimated 95% of total revenues. The Little Dutch restaurant was recently featured on the PBS television show “Tennessee Crossroads”. A link to the brief video, which highlights the long history of the Little Dutch and its significance in the local community, can be found at www.youtube.com/watch?v=q_SeHAY7b0c. Other key characteristics include: Financial o For the twelve months ended September 30, 2015 (reflecting current operations six days per week, lunch and dinner only, and as adjusted for certain non-recurring items): o Sales of approximately $757,000 o Net Cash Flow to Owner of $186,000 (or Net Cash Flow As-If Leased of $132,000) o 25% Cash Flow margin (or 17% as-if leased) Operations o Open for lunch and dinner Monday through Saturday; closed Sundays o Average 270 customers per day (150 lunch / 120 dinner) o Estimated 95% of total revenues from repeat customers o Premier catering businesses for corporate and group events o Alcoholic beverage sales currently include beer and wine only Facility o 180-guest dining room capacity o Estimated 3,600 square feet of dining room area o 60+ dedicated parking spaces o $185,000 renovation completed in 2004 Market Opportunity o Operations can be readily expanded to include breakfast, lunch, and dinner, seven days per week, with no additional capital investment and minimal incremental overhead, thus substantially enhancing profitability o Potential to further enhance profitability through the addition of spirit sales o Central location in historic downtown area of family-oriented, mid-sized city The Little Dutch menu, available for review on the website, includes a variety of American, Italian, and other favorites for lunch and dinner and is widely regarded for its salad bar and soups.
Currently Absentee Owned, this franchised restaurant is primed for an Owner Operator to expand on the 25+ years of business in the heart of West Knox County. Seller financing available.
The pizza industry commands over $30-billion in sales each year. You've found a huge, growing market, and as a territory franchise partner, you have a huge opportunity to take advantage of the ever-growing pizza market. This opportunity comes with tremendous growth potential and unlimited opportunities for expansion.
Business listed by:
Unknown Broker Company
Get free alerts via email when new businesses are listed matching your Tennessee Restaurants search criteria.