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Authentic Indo-Chinese Restaurant

Greensboro, NC (Guilford County)

Authentic Indo-Chinese Restaurant

Asking Price:$99,000

Cash Flow:$42,000

Gross Revenue:$360,000

EBITDA:N/A

FF&E:$130,000

Inventory:$2,500

Lease Rate:$9 /SF/Month

Established:2014

Authentic Indo-Chinese Restaurant

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Business Description

This business is solid but with modest sales (360K) and cash flow (49K). It needs some re-invigoration to increase exposure and sales. Large and well-equipped: 5,000 sq. ft for $4900 a month including CAM with 3 years left on lease and a 5-year option; or a new lease could be negotiated. The same concept could be continued and grown if tweeked. And a big cost savings of start-up costs would benefit buyer of a new concept, because of the whole place was upfitted and newly equipped just 3 years ago. Strong location in desirable part of Greensboro. Chef and GM would consider staying on if desired. The foundation of success had been laid, and now it is for someone else to build upon.

Detailed Information

Inventory:
Included in asking price
Real Estate:
Leased
Building SF:
5,000
Lease Expiration:
6/30/2020
Employees:
5
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Spacious, well appointed Indo Chinese/Asian cuisine restaurant with seating for 120 in booths, tables, nice long bar, patio and a separate private room. Large kitchen newly equipped. (130K spent in upfitting 3 years ago mostly in kitchen). Corner location in small center near Guilford College in desirable neighborhood and zip code (27410) with lots of parking.
Competition:
Specializing in "Indo Chinese" cuisine, and considered by many as one of the best in town, this restaurant has a strong foothold in the market on which to expand, as space is plentiful with 120+ seats, and no advertising or social media efforts are presently done. There is not even a website... For a large, nice dine-in non-buffet Chinese restaurant, there is not another comparable one close by.
Growth & Expansion:
In the Quaker Village area, across from Guilford College in a great part of town, this restaurant needs more online visibility as it is in a lower profile yet desirable destination location. A new concept could be brought-in utilizing the bar more--as they staff no bartender--and that dynamic would add a new dimension to the business. More than plenty of dining and kitchen space to maximize. This could be another location of existing concept, with start-up costs minimized with a relatively new kitchen in place.
Support & Training:
Two weeks included in the sale for comprehensive training and a smooth transition. Chef is willing to stay on, and GM would consider it, depending on the situation.
Reason for Selling:
Pursue a new venture.

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Business Listed By:
Ben Haines

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