Thai Cuisine: Absentee, Rev $540K, Net $60K, Reduced $140K, OC

La Habra, CA (Orange County)

Thai Cuisine Diner
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Asking Price: $140,000

Cash Flow: $60,000

Gross Revenue: $540,000

EBITDA: N/A

FF&E: N/A

Inventory: $4,000*

Rent: $2,600 /Month

Established: 2015

*not included in asking price.

Thai Cuisine: Absentee, Rev $540K, Net $60K, Reduced $140K, OC

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Business Description

> A Thai cuisine diner at the threshold of well-situated strip center in Harbor Blvd. with a good exposure. No beer and wine sold here. Two restrooms are ready for possible ABC license acquisition.
> Ideal size, which is convertible to any restaurants such as Sushi, Teriyaki, Pho noodles ,Mexican cusines or just name it because of location and surrounding neigborhoods.
> Sales were almost inconsistent and hardly improved. But sales volume has been steadily increasing since 2019 as new industries continue to fill the region and expect to continue a rise on sales.
> Well known for its healthy Asian cuisine for its neighbors. More than 4 years in the business and stay stable, but lower net profit because of 100% absentee-run profits.
> A full help-run. Owner not working. Because of employing more staff than needed, wages are considerably overhead. A lot can be saved if owner/operator takes over.
> See below for details;
• Gross sales are an average of 45,000/mo to date in 2019
• Net income is an average of $5,000/mo in 2019. Enough because t's absentee-run profits
• Cost of goods sold, including supplies is as low as 26% on average
• Lower rent is $2,600 including Triple Net / CAM
• Restaurant size is approx. 1500 sq. ft.
• Lease remains 1 + 5. Landlord willing to offer a new lease 5 + 5-year option for qualified buyer
• Short hours are from 11 am to 3 pm, and 5 pm to 9 pm, 7 days
• Employees: 4 full-times and 6 part-times. Overhead on wages. If owner works in the restaurant, substantial increase of net profits expected
• Higher wages including payroll taxes are about $14,000
• Sales taxes paid for are approx. $2,400/mo
• Parking spaces in front and more in the shopping center
• Commercial term business loan is still available with a 50% down. With $75,000 down payment, approx $1,503 installment per month will be repaid over 5 years at 7.5% annum
• To get a loan and/or lease approval, buyers must prove financial statement, 700+ FICO, sufficient down payment in the bank account seasoned more than 90 days and at least 2 years similar business experience or ownership of restaurant
• Financial records will be provided to buyer with proof of fund and committed.
• For your prompt inquiry, online pdf. NDA is conveniently attached. Sing and resend
• For more information, send your inquiry at beeinvest.kim@gmail.com or leave a message at 714-345-6514

Attached Documents


Detailed Information

Location:
La Habra, CA
Inventory:
Not included in asking price
Real Estate:
Leased
Building SF:
1,500
Lease Expiration:
3/31/2025
Employees:
10
Facilities:
Full absentee-run profits. Good rent below the market. Fully fixtured kitchen. Cooler and freezer (no walk-in cooler). Huge hood, 5 burners and 3 woks. All fixture in the kitchen were customized. Server station and serving prep area. More than 52 seating capacity
Competition:
No
Growth & Expansion:
Ideal to be convertible to Japanese Sushi, Teriyaki, or Pho noodles, since there are no competitors nearer and the advantae of utiliizing the existing restaurant facilities. Change to breakfast restaurant is a good idea becaue of large demand in the area.
Financing:
N/A
Support & Training:
2 weeks training by on-site staff and 8 hours by the seller after closing
Reason for Selling:
Have another ventures
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Business Location


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(from currently available funds)
 
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Kevin Kim

Business Listed By:
Kevin Yong Kim

Bee Realty Group

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