Profitable Chinese Restaurant, Must Go!

Houston, TX (Harris County)

Profitable Chinese Restaurant, Must Go!
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Asking Price: $248,000

Cash Flow: $150,000

Gross Revenue: $1,000,000

EBITDA: N/A

FF&E: $50,000

Inventory: $6,000

Rent: $9,680 /Month

Established: 2002

Profitable Chinese Restaurant, Must Go!

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Business Description

Well-known and profitable Chinese restaurant for sale in Southwest Houston located in a major strip center on a major highway. The restaurant of 4,400 square feet is professionally designed to seat 210 patrons comfortably.

This full-service dining restaurant offers authentic Chinese Cuisine including fresh seafood and Dim Sum. The restaurant has been profitable since it first established in 2002. Current revenues are approximately $85,000 a month with discretionary earnings of approximately $15,000 a month.

The restaurant manager (key employee) has been with the restaurant for more than 12 years. Stable business with a stable employee team and stable customer base.

Current owner has to sell the restaurant because of the owner's visa issue with US immigration.? ?This rare sale is perfect for any buyer looking to acquire a top performing restaurant.

Detailed Information

Location:
Houston, TX
Inventory:
Included in asking price
Real Estate:
Leased
Building SF:
4,400
Lease Expiration:
N/A
Employees:
18
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
The first owner set up this restaurant in 2002, successfully operated it till 2015 when sold the restaurant to the second owner because of health issue. ?The second owner continues to run the restaurant successfully and obtained the Green Card through this restaurant. Then it was sold to the current owner. The current owner bought this restaurant in December 2018 in order to apply for E2 VISA but was rejected by US immigration recently. Therefore, the family members are unable to come to the U.S. from overseas, and then the current owner has to sell the restaurant and return home. The business of this restaurant is very stable because of the stable employees and its brand recognition. The current owner has made some improvement in teamwork, food quality and customer service and performance in general since she took over the business.
Competition:
>Turnkey operation for owner, minimal work requires (encouraging employees) >Well-known brand name in the communities, less competitors in the area. >Very good location in a high income communities, easy access from a major highway. >The only Chinese restaurant that offers Din Sum in the area, can attract lots of Din Sum lovers. >Stable team, experienced employees, low employee turnover. Most of the staff have worked for more than 4 years in the restaurant. The key employee, the restaurant manager has worked here for more than 12 years.? ??>Stable customer base, most of them are Asian. >Very good suppliers cooperated with the restaurant for many years >Newly changed computer system, solid IT system. >All need is doing more marketing to gain more customers and make more profit. Has hug potential.
Growth & Expansion:
Currently the business has been very stable, but the two former owners and the current owners have neglected marketing efforts. Clientele has grown and sustained over the years based on primarily referrals and repeat customers who value the quality food. A significant growth opportunity exists to increase revenues and business with the simple adoption of marketing initiatives to promote brand awareness and restaurant services, impartially with a high emphasis in social media marketing and community involvements.
Support & Training:
2 weeks
Reason for Selling:
relocating
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Austin Zhao

Business Listed By:
Austin Zhao

Transworld Business Advisors

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Sponsoring Broker:
Gerald G. Brisson, CBI, M&AMI, CMAP

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