100% Absentee Restaurant & Bar - Profitable - Hard Liquor

IL

100% Absentee Restaurant & Bar - Profitable - Hard Liquor
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Asking Price: $330,000

Cash Flow: $127,000

Gross Revenue: $1,677,000

EBITDA: N/A

FF&E: N/A

Inventory: N/A

Established: 1985

100% Absentee Restaurant & Bar - Profitable - Hard Liquor

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Business Description

ABOUT THE RESTAURANT AND BAR
This restaurant and bar brand has withstood the test of time, operating for more than 33 years in this upscale Chicago suburb and now this is your only chance to buy this great restaurant and it won't last long.
The bar's coziness gives this restaurant something special. With the fire place warming the room and the ambiance of the people chattering with the sporting event on the many screens, this is where neighbors and friends meet to share great times, laughs and watch the games. There is a full liquor license to make those meetings lively and fun.
Each dining area is accented with fireplaces as well, making it even more cozy and relaxing to enjoy the super food and great service. The menu is American comfort fare at reasonable prices with Google and Facebook giving the restaurant 4.1 stars.
Besides the great bar atmosphere, there is a banquet room and two dining areas, again all with fireplaces. A working Owner will surely improve the operations of the business at every level and will add substantial profits and value to this business.
There is a large outside patio seating 64 patrons and an interior seating 184 patrons. The restaurant is well maintained and pride of ownership shows everywhere.
The Name, Menu and Recipes will be licensed to buyer for only this one location.
AMAZING LEASE: Okay, this lease is amazing and rare! If you buy the corporation, no landlord approval required and there is no personal guarantee! Yes, you read it right! No guarantee and no landlord to approve you! But of course you're still going to need good credit and solid experience and prove you have the working capital to maintain the brand and quality of the business. Or you can simple change the concept if you like! This is a first class restaurant buildout.
There are 5 years left plus a 2 five year option for 6,290 Sq. Ft. plus a large outside patio of about 900 Sq. Ft. The all-in rent is $9,008.
SOLID FINANCIALS: This business has solid tax returns and long history of profit. 2018 is expected to end on about the same note 2017 ended and 2019 is actually up compared to last year. Owner Working Owner Cash Flow (WOCF) is about $127,000. All-in Rent is ONLY 6.6% of 2017 Sales with food costs at 31% and labor costs at 34.0%. This broker believes there is opportunity to raise prices as people are expecting it with minimum wages increasing. A 5% increase translates into an additional $84,000 of cash. Phase several 5% increases in over the next two year and this business will throw off a lot of cash for the price you paid.
SBA LOAN AVAILABLE: SBA will finance this transaction with about 20% down ($66,000, could be less down depending out Buyer's strength) at about 7.5% interest, amortized over 10 year. Monthly payment are $3,169, leaving an average of $7,400 of cash available to a working owner. Do a 5% price increase and add another $83,000 of cash flow!
REASON FOR SELLING: Owners are getting up in age and are retiring.

Detailed Information

Employees:
44
Growth & Expansion:
Working Owner can get numbers back to industry standards.
Support & Training:
General Manager in place
Business Website:
http://sellingrestaurants.com/restaurant-for-sale/restaurant-business-brokers-c
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Mel Jones

Business Listed By:
Mel Jones

Paramount Restaurant Brokers, Inc.

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