Leominster Area Chinese Hotspot

Leominster, MA (Worcester County)

Leominster Area Chinese Hotspot
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Asking Price: $800,000

Cash Flow: $500,000

Gross Revenue: $3,000,000

EBITDA: N/A

FF&E: N/A

Inventory: N/A

Rent: $17,500 /Month

Established: 1991

Leominster Area Chinese Hotspot

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Business Description

$500K NET PROFIT AND A RARE 2 AM LIQUOR LICENSE!!!

Chinese Restaurant with rare 2 AM liquor license and desirable location in major shopping center. This restaurant is also the local nightlife hotspot with live music and entertainment. Exquisite and ornate classic Chinese decor. Family owned and operated for past 28 years in same location. Averaging $3 million per year in gross sales. This restaurant posted GROSS SALES OF $3.2 MILLION in 2016 and a NET PROFIT OF $600,000! Excellent business acquisition opportunity for a fast-paced, high volume, high quality family-run business. NETS OVER $500K/YR.

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Detailed Information

Real Estate:
Leased
Building SF:
10,000
Lease Expiration:
3/20/2024
Employees:
25
Facilities:
A very large footprint makes this restaurant attractive for entertainment and large groups. 10,000 ft.² plus. Very large private function room. Ornate Chinese decor throughout restaurant with carved wood accent. Live entertainment stage in bar area with raised platform and lighting. Huge kitchen with everything your staff needs to create exquisite Chinese food.
Competition:
This is a standalone building with a huge parking lot in a large shopping center with additional spillover parking. This restaurant represents the hub of late-night entertainment for at least 10 miles in any direction. A 2 AM liquor license and live entertainment help promote additional revenues. Great Chinese food with plenty of seating and a well-trained staff round out the value of this excellent opportunity.
Growth & Expansion:
This restaurant has everything you need for high gross and net revenues. A younger owner with new ideas and energy, a little bit of paint and polish and this restaurant is an absolute Goldmine waiting to make a fortune for a new engaged owner.
Support & Training:
Owner is happy to assist in training new management.
Reason for Selling:
After 29 years of successful ownership, ready to retire.
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(from currently available funds)
 
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David Horn

Business Listed By:
David L Horn

New England Restaurant Brokers

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Sponsoring Broker:
Dennis Serpone

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