Original owners ready to retire after 40 years in business

Jack County, TX

Original owners ready to retire after 40 years in business
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Asking Price: $299,000

Cash Flow: N/A

Gross Revenue: $500,000

EBITDA: N/A

FF&E: N/A

Inventory: $6,000

Real Estate: $225,000

Established: 1979

Original owners ready to retire after 40 years in business

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Business Description

Village Kitchen Restaurant, established 1979

Village Kitchen is located in Jacksboro, Texas which is the County seat of Jack County. It is a growing community about 1 hr. NW of Fort Worth/Dallas, and 1 hr. S. of Wichita Falls.
The lot has 150ft. of Highway frontage with great visibility where Highways 281, 199, 380, & 199 converge. This is the main road going through Jacksboro. It has 4 lanes of thaffic, with an extra wide center turn lane. No exit/entrance ramps are needed to access this location. There are no other restaurants in the immediate vacinity.
It has a good base of local customers, including families that have been eating there through 4 generations.
It is a Family Restaurant, with no sales of Alcohol.
Open 7 Days. Operating hours:
Mon, Tue, Thurs, Fri, 6am-9pm.
Wed, Sat, & Sun, 6am-2pm.
The entire menu is served all day, including Breakfast. The specialty is homestyle "comfort food", including such all time favorites as Chicken Fried Steak, Beef Stew, Chicken Pot Pie, Burgers, Sandwiches, Tex-Mex, Steaks, Catfish, Salads, and large selection of Vegetables.
Most of the cooking is done "diner style" in the front area, with prep kitchen and storage in the back. Much of the food is "made from scratch" and all recipes are included in the sale.
The facility and equipment are well maintained, and kept very clean. The restaurant has routinely received near perfect scores from the Texas Department of Health.
Also they have a professionally designed Logo, and have incorporated it into the Menu, Signage, T-shirts, and advertising. It includes the Slogan: "It might not beat your Momma's food, but She eats here when she's not cookin'."
This is a good time for a buyer interested in a turn key purchase. Everything is in place, up and running, and fully operational. There will be no liabilities to assume, and all taxes are current.
The Owners are VERY motivated by their desire to move closer to their family and be involved in their Grandchildrens' lives. The owner is 64 years old, has been operating the business successfully since he was 24, and active in restaurant management since age 21. He is ready to move on, and has priced the business accordingly.

Detailed Information

Location:
Jack County, TX
Inventory:
Included in asking price
Real Estate:
Owned
Included in asking price
Building SF:
2,050
Employees:
16
Facilities:
Included in the sale price is the 150x150 ft.lot, 2050 sq.ft. brick building, Asphalt & Concrete parking lot, all grocery inventory, furniture, fixtures, and equipment (including some spare equipment for back-ups). Seating capacity is 70, with 10 booths, 6 tables, and 5 counter stools. All of the equipment is owned, except for coffee, tea, and soft drink machines. There are 4 A/C units, tankless water heater, 2 yr. old Vent-a-hood & 2 outdoor lighted signs. The equipment is clean & well maintained, as is the rest of the facility.
Competition:
The town recently voted to allow liquor, beer and wine sales in restaurants. A couple of new competitors opened which have centered their operations on bars, alcohol and upscale food. A buyer might consider serving alcohol to pick up some of that business. There is also a possibility which the owners are considering: closing daily about 3pm and concentrating on breakfast and lunch, which would be an easier operation to run, and still be profitable. The county is also seeing population growth as a result of people moving to the rural areas around DFW.
Growth & Expansion:
In recent years the owners have cut back on hours and services because they wanted more time off, or physically were unable to do certain things. They decided to stop catering due to limitations on heavy lifting. They reduced opeating hours on weekends and Wednesdays, to allow them more free time. Those are both possible areas for growth and expansion, to increase sales. There is not much room to expand the facility, but the owners have considered adding either a drive up pick-up window or curb service for carry-out orders.
Support & Training:
The employees are fully trained, and are aware of a potential sale, and none have expressed a desire to leave. Owner is willing to stay for a period of time (or not) to help make a smooth transition, depending on the preference of the buyer, and the price/terms agreed on. As for support, owner is agreeable to answer any questions that might come up, indefinitely.
Reason for Selling:
Owners are ready to retire and move closer to their family and Grandchildren.
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Business Listed By:
Charles Kohr

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