Calling all Chefs!

Issaquah, WA (King County)

Metal Table
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Asking Price: $200,000

Cash Flow: $70,000

Gross Revenue: $600,000

EBITDA: N/A

FF&E: $30,000

Inventory: $50,000

Rent: $3,600 /Month

Established: 2012

Calling all Chefs!

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Business Description

Wine Bar & Bistro with 325+ wine club members & Retail Wine Shop

$120k+ annual take home right out of the gate for a Chef owner operator! Grow it from there by adding back winemaker tastings and dinners,(people ask regularly when these will start up again!), events and lunch service during the week!
The small bites menu serves as a mix of perfect pairings for the many wines by the glass or by the flight. The kitchen is small but is a fully certified commercial kitchen with an "Excellent" rating from the King County Department of Health. Many James Beard award winning Chef's and restaurants started out in kitchens smaller than this one! (Lark, & Le Pigeon, and Altura to name a few)
In it's 7th year of business Capri Cellars has become a name everyone is familiar with. Even outside of Issaquah people have heard of Capri Cellars. This eclectic wine tasting room has been featured in publications such as Sunset Magazine “Winning fans with its carefully sourced menu of wines” (July 2014 issue) 425 Magazine, Tasting Room Magazine and US Magazine, where one of the bachelorettes from ABC's The Bachelorette hosted her baby shower. Highly rated on Facebook, Yelp, Google, and Trip Advisor it is a favorite neighborhood "meet-up" place, perfect for a girls night, date night, group event or party. Rustic, french farmhouse style community tables are perfect for large gatherings or winemaker dinners. We have done dinners and tastings with numerous winemakers including Mark Ryan McNeilly, Chris Sparkman, Jerry Reiner of Guardian Cellars, Darby English, Greg Harrington of Gramercy Cellars, Chris Gorman, Jamie Brown of Waters, and many more. We can seat up to 50 people for the dinners and they always sell out at $139-$149 per person plus tax and gratuity. (We have the sales sheets to show you) Capri would be ideal for someone who is a chef or home cook who wants to be an owner/operator and work in the kitchen. No one in Issaquah is doing a tasting menu and there is definitely a market here for it. Over the years companies such as Costco, Microsoft, Wells Fargo, Smith-Barney, Ameriprise, Burke-Electric, T-Mobile and many others have hosted parties and/or meetings at Capri Cellars. The space is also very popular for retirement parties and birthday parties of around 40-60 people. We handle all of the catering on site which is highly profitable.
The business also has a thriving monthly (wine of the month) wine club with 325+ members. There are 5 different clubs: Capri Club is the entry level club (choice of 2 reds, 2 whites or a red and a white, $40 per month for 2 bottles, Sommelier Club is the high end Washington club - always red, $65-$100/month; Around the World Club is three $20 bottles from around the world; Bubbles Club, and High-End European Club $100-$150/month. Club members have their credit cards on file and are automatically debited each month for their club wines.
Capri Cellars opens at 3 on Tuesday, Wednesday, and Thursday and noon on Friday, Saturday and Sunday. Closing at 8 during the week and 10 on weekends, 7 on Sundays making total open hours only 43 total hours. Increase revenue by opening for lunch!
There is approximately 100k annually in labor that could in part be taken home by an owner operator. Only 20% of monthly revenue is from the food menu, 80% is wine retail sales. HUGE opportunity to grow this business for a Chef! (There is also $2k per month in debt payments which will dissolve once the business is sold- that's an additional $2k in your pocket each month!)

Detailed Information

Location:
Issaquah, WA
Inventory:
Included in asking price
Real Estate:
Leased
Building SF:
2,000
Lease Expiration:
3/3/2027
Employees:
10
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
All wine inventory is included. There is a small outdoor seating area in front. Included are several couches & tables including rustic farmhouse tables & shelving; and the reclaimed timber tasting bar. A small commercial oven, 3 commercial refrigerators, one retail refrigerator, 3 smaller refrigerators & a large freezer are all included along with the fixtures. There is a large parking lot in front which is a rarity in downtown Issaquah. We are in our 2nd five yr lease term w another 5 yr option to renew. Lease is transferrable & landlord is awesome.
Competition:
Issaquah is rapidly growing affluent community. We are the only specialty wine shop in town and the only place in Issaquah to purchase highly sought after Washington wines. We are the only wine club in town.
Growth & Expansion:
Recent partnerships w Hilton & Marriott have started to bring in new customers. The hotels are handing out our literature & shuttling guests to our location for wine tasting. Capri also recently got accepted as one of the restaurants on the corporate Passport card. This is the card given to employees as part of their comp package at Apple, Microsoft, Amazon & dozens of other companies. Once the formal launch is sent out (1st week of Sept 2019) we expect to see a significant uptick in business. Opening for lunch mid week would also add additional revenue.
Financing:
Commission for broker that brings us a buyer that leads to sale of the business
Support & Training:
Current owner will spend time teaching the basics and is also willing to stay on staff.
Reason for Selling:
Desire to travel and do other things
Business Website:
http://www.capricellars.com
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Business Listed By:
Michele Steele

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