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Established Steakhouse and Bar in University Town

Jackson County, IL

Seller Financing Available
Established Steakhouse and Bar in University Town
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Asking Price: $174,900

Cash Flow: $93,000

Gross Revenue: $718,000

EBITDA: $99,000

FF&E: $100,000

Inventory: $15,000

Rent: $8 /Month

Established: 2003

Established Steakhouse and Bar in University Town

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Business Description

Turnkey Operation - Perfect for 1st Time Buyer - Will Train

Upscale casual restaurant (steaks, seafood, pastas, wines, spirits, etc.) on main thoroughfare in university town. Features a full-service lounge on lower level with live music, video gaming, and private dining room. Additional streams of income from established, steady off-site catering business. Approved caterer for city and university. Newer POS system throughout. Only restaurant in the area with online reservations through Open Table. New website in 2019. Many long term key employees, low turnover. Opportunities to grow and expand. Landlord flexible with lease terms. Serious inquiries only.

Detailed Information

Location:
Jackson County, IL
Inventory:
Included in asking price
Real Estate:
Leased
Building SF:
4,875
Lease Expiration:
6/30/2019
Employees:
20
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Main dining room seats up to 88 diners. Private dining room holds up to 52 diners. Bar/lounge holds up to 90 additional guests. Plenty off on-site parking and storage. Includes all inventory, equipment and furnishings ($100k value) to operate restaurant, bar, and catering services including point of sale.
Competition:
We're one of three locally owned places in town that have full-service and steaks. Each are unique in their own way and share many of the same regulars. While we obviously compete, we have positive professional relationships and work together for mutual benefit. Collectively, our neighborhood of restaurants has held its own against the collection of chain restaurants in the mall district for many years.
Growth & Expansion:
New service similar to Uber Eats just launched in town providing delivery options. History of success in similar regional markets. Adjacent space in building available for expansion. Buyer could enhance business by adding lunch service, larger private event space, and catering rentals.
Financing:
Will consider
Support & Training:
Up to 4 weeks initial on-site training. Additional 60 days of off-site support as needed. Additional training/support negotiable.
Reason for Selling:
Family obligations unrelated to business
Business Website:
http://thenewellhouse.com
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Business Listed By:
Not Disclosed

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