Landmark Restaurant - Turnkey

Erie, PA (Erie County)

Seller Financing Available
Landmark Restaurant - Turnkey
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Asking Price: $199,000

Cash Flow: $80,000

Gross Revenue: $285,000

EBITDA: N/A

FF&E: $80,000

Inventory: $2,500

Real Estate: $90,000*

Established: 1927

*not included in asking price.

Landmark Restaurant - Turnkey

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Business Description

Turnkey Profitable Restaurant

Have you been dreaming of owning your own business? Profitable, fully equipped turnkey business opportunity available. Well established Erie, PA family diner is for sale. The restaurant has witnessed nearly a century of Erie history all while being a strong presence in the community. Customers seek this restaurant for their acclaimed signature dishes and use of high-quality ingredients and outstanding customer service. Restaurant remodeled 5 years ago to current trends. Extremely popular destination point and has a significant social media presence (4.8/5.0 rating on Facebook, 4.7/5.0 on Google, 4.5/5.0 on Yelp and 5.0/5.0 Trip Advisor). This opportunity is perfect for a new owner to step in to a turnkey operation at this 1000 square foot facility, long term lease in place (income producing building is available for purchase). Capacity for 40 with booths and counter seating. Well trained staff, 2 FT and 4 PT, can run entire operation, manager in place. Current owners have owned the business for over 50 years and are retiring. Business operations are five (5) days per week and closed two (2) weeks every year for vacation. Owner financing for approved buyers. All offers will be considered.

Detailed Information

Location:
Erie, PA
Inventory:
Included in asking price
Real Estate:
Owned
Not included in asking price
Building SF:
1,000
Employees:
6
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
1000 sq. ft. rented space with all equipment and inventory included in sale. Income producing building is available for sale as well.
Competition:
The area is transitioning and a $7.5M development project recently announced 4 blocks away. The business has been an Erie tradition since 1927. Competition is not very high in the area.
Growth & Expansion:
Currently open Tuesday-Saturday 9:30am-7:00pm (47.5 hrs./week). Growth opportunities for new owner are in menu expansion, catering, hours of operation expansion, delivery and e-commerce. The business is turnkey with a significant social media presence that has room for growth (4.8/5.0 rating on Facebook, 4.7/5.0 on Google, 4.5/5.0 on Yelp and 5.0/5.0 Trip Advisor).
Financing:
Seller financing for approved buyer
Support & Training:
Easy transition to new owner with negotiable training period.
Reason for Selling:
Retiring after 50 years!
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Business Listed By:
Constantine Paliouras

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