Price Reduction Burgundy Square Cafe, Venice Florida Tourist District

Venice, FL (Sarasota County)

Seller Financing Available
Burgundy Square Cafe
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Asking Price: Get Financing: $745,000

Cash Flow: $348,643

Gross Revenue: $1,070,199

EBITDA: $315,504

FF&E: $146,000

Inventory: $5,000

Lease Rate: $1.49 /SF/Month

Established: 2011

Price Reduction Burgundy Square Cafe, Venice Florida Tourist District

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Business Description

RECENT PRICE REDUCTION from$890,000 to $745,000. This is a well known, established restaurant, in the heart of Venice Florida's flourishing tourist district. It is open 7 days a week starting at 7:30 and closing at 9:00 pm. In 2016 the restaurant was closed on Sunday evenings reducing potential revenue by an estimate $150,000, even so, year over year revenue grew by more than 10% . Founded in 2011, the cafe has been serving delicious meals to the Venice locals and visitors ever since and clearly is the best known and favorite of many. The success is a reflection of the New England born owner’s passion for food, his dedication to quality, and reliable customer service. For the last several years the Cafe has won the Venice Gondolier Sun Reader's choice Award for dining. (see the attached photos). For the outdoor lover, Burgundy Square Cafe offers comfortable outside covered courtyard dining along with its bright and cheerful interior seating.They serve wine and beer with 12 different IPA's on draft. A new owner does not need to change a thing since the momentum and excitement are already established. The business carries no debt or mortgage.

Detailed Information

Inventory:
Included in asking price
Real Estate:
Leased
Building SF:
2,800
Lease Expiration:
8/18/2021
Employees:
20
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Approximately 2800 square feet on indoor seating (82) along with outdoor seating for as many as 46 in the covered courtyard. A unique hand painted wall reflects the history of Venice. See photos.
Competition:
There are numerous synergistic restaurants in the tourist district each pulling locals and visitors alike such that reservations are generally required. The business is located on Miami Ave. in the robust tourist center of Venice Florida with abundant off street parking both in front and rear of the building. Without a doubt, this is a prime location.
Growth & Expansion:
The current seating is 82 inside and 46 outside. The seating inside can be expanded to 99, and if a sprinkler system is installed there is room for 151 seats thus qualifying for a liquor license.
Financing:
With appropriate initial payment, owner financing is available
Support & Training:
Two weeks support and training although the thoroughly trained staff runs the day to day operation.
Reason for Selling:
Opening another store.
Business Website:
http://burgundysquarecafe.net
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Timothy Reed

Business Listed By:
Timothy Reed

Merritt Realty Corporation

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