World Renowned Restaurant

Glendale, KY (Hardin County)

Seller Financing Available
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Asking Price: $875,000

Cash Flow: $156,176

Gross Revenue: $1,500,000

EBITDA: N/A

FF&E: N/A

Inventory: N/A

Real Estate: $400,000

Established: 1974

World Renowned Restaurant

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Business Description

Currently a very successful world renowned restaurant in a small historic town inclusive of many antique and gift shops. This restaurant is a destination restaurant with quests coming from all over the country and around the world.

The restaurant seats 85 and has additional seating capacity for 85 more in the upstairs dining room used for private parties and special events.The restaurant specializes in delicious fresh Southern food made from scratch using recipes handed down from family and friends.The restaurant has a unique southern charm appearance, most of the booths and seating areas and lights were hand made. The restaurant includes a gift shop, which is a traditional log cabin,moved to the site and rebuilt to fit next to the restaurant. Since this is a destination location, the majority of customers come from out of town, out of state as well as internationally. The restaurant has been frequently written up in many local, state and national magazines such as Southern Living Magazine. It also won Best Desserts in Kentucky and been voted Best Non-Franchise Restaurant in Kentucky since 2010.

Business and real estate are being sold. The owners are retiring, however, they will stay for a period of time to assist the new owners with the transition. An investor can buy the building and lease back to the business which generates in excess of $1.5 million dollars in gross revenues and normalized historical net income before taxes in the $156,000 range. The current operating business is for sale at $475,000. The property can be purchased by an investor and leased back to the business, or, The purchaser of the business can also buy the building, thus a total price of $875,000. Seller also has a private residence that can be purchased for $125,000.

Attached Documents


Detailed Information

Location:
Glendale, KY
Inventory:
Included in asking price
Real Estate:
Owned
Included in asking price
Building SF:
6,485
Employees:
15
Growth & Expansion:
Currently the restaurant is closed on Sundays and Mondays. A new owner may want to capitalize on the local market by opening one or both days. Also there is a need for catering and special events/parties in the area. A new owner could increase revenues drastically by using the second floor for such events.
Support & Training:
Key managers of the business are the owners. Additional managers and section supervisors/leaders are utilized to efficiently operate the restaurant. Current owners will stay for a negotiated period to assist the new owners in a smooth transition.
Reason for Selling:
Sellers have owned the property for 15 years & are ready to retire.
Business Website:
http://www.kcrea.com/listing/30099021
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Joe Hampton

Business Listed By:
Joe Hampton

Remax Properties East

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