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Restaurant for Sale in Broward County -$150,000 for Absentee Owner

Broward County, FL

We Sell Restaurants - Florida Restaurant Brokers
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Asking Price: $425,000

Cash Flow: $124,517

Gross Revenue: $648,176

EBITDA: N/A

FF&E: N/A

Inventory: N/A

Rent: $4,246 /Month

Established: 2000

Restaurant for Sale in Broward County -$150,000 for Absentee Owner

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Business Description

Great Opportunity!

Broward County Restaurant for Sale is Great Opportunity for Investor or Operator. Very profitable with Management Already in Place!
Fully-Absentee Owner Nets in excess of $150,000 Annually!
Buy this fast-casual restaurant for sale offered in South Florida that has been in existence for 20 years. The current owner has been in place for two years, and the restaurant for sale is currently operating absentee. The owner purchased the business for a family member who had to relocate after three months of ownership. With sales of more than $55,000 per month and the operation being run under absentee ownership, this is an ideal opportunity for investment into the restaurant business. After seven months of 2019, the gross sales are up a whopping more than 20% over 2018. The net profit is up by the same. In 2019, the take-home income of the absentee owner will be in excess $150,000. The annualized gross sales of this cheesesteak restaurant were $648,176 in 2018 and the absentee owner's benefit was $124,517.An Owner Operator will increase the take-home pay by decreasing labor cost.
This restaurant for sale, offered by restaurant brokers, is housed in a 2,200 square foot free-standing building that leases for $4,243 per month. More than twenty parking spots are available for the 65 guests that can be seated inside this business that serves the best cheesesteak and wings in the south! The restaurant for sale is located on a very busy road with more than 50,000 vehicles driving by each day. This property has a beer and wine license (2COP).
The fully equipped commercial kitchen in this restaurant for sale comes with a very long hood that covers a flat top grill and two fryers with plenty of room to add much more equipment. The kitchen also features a walk-in cooler, ice machine, two sandwich coolers, slicer, and much more. The business has a POS system, security camera system, four large televisions, and counter space for dining.
The diverse menu consists of Philly Cheesesteaks with more than 10 varieties, chicken wings, with more than 15 different sauces, burgers, hot dogs, sandwiches and hoagies, and salads. Guests can quench their thirst with beer or wine, as this restaurant for sale features a 2COP license. All recipes will transfer, and the enthusiastic staff will remain to ensure a smooth transition of ownership of this great opportunity. The absentee owner will spend time with the new owners for two weeks and sign a non-compete for three years and three miles.

Detailed Information

Location:
Broward County, FL
Real Estate:
Leased
Building SF:
2,200
Lease Expiration:
2/28/2021
Employees:
10
Facilities:
17 tables with a mix of booths and chairs 55 chairs 6 bar stools 4 televisions 2 high chairs 3 booster seats POS system three hotel pan steam table 2 two door sandwich coolers freezer chest flat top 2 fryers 2 prep tables conveyor toaster convection oven ice machine dish machine residential freezer ss shelving walk-in cooler walk-in freezer four camera security system assorted pots pans smallwares
Competition:
This restaurant is known throughout the county for having the best cheesesteak Twenty years of goodwill with long term employees have kept customers coming back tie and time again
Growth & Expansion:
Located on very busy North South road that is highly commercial drives in new customers daily and makes accessibility very easy Huge delivery area has started to be cultivated
Support & Training:
Owner will train for two weeks at no additional cost
Reason for Selling:
Other
Business Website:
http://www.wesellrestaurants.com
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Ken Eisenband

Business Listed By:
Ken Eisenband

We Sell Restaurants

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Memberships & Certifications:
Indicates membership in the International Business Brokers Association (IBBA). The IBBA is the only certifying organization for Business Brokers and Intermediaries who assists people in buying or selling a business.


Sponsoring Broker:
Eric Gagnon

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