Established and Profitable, this turnkey Restaurant/Bar has been in business since 2015. The concept serves on average over 40,000 patrons annually. The business operates under a series # 12 Liquor license.
Experienced management is in place and the owner works approximately 30 hours per week in functions of general oversight, ordering inventory, and front of the house interaction with customers. 15 tenured workers provide front and back of the house services. Turnover has been very low. Rent, Food, and Labor costs are below industry averages.
The business sits in a free standing building situated between several busy hotels. At 5,300 sq/ft the rent is below market and is fixed for the next 5 years, with an additional right to renew again. The inside Fire Code capacity is 182 in addition to a large, mostly covered patio that seats 75. The entire restaurant has been updated and is in A-1 condition.The front of the house features over 20 large screen TV's. Approximately $ 300,000 of Furniture, Fixtures, and Equipment are included in the asking price.
There are several avenues available for additional growth. The hours can be expanded to capture a bigger share of the under served late-night crowd, and social media use can be expanded.
The Business is priced to sell at $ 500,000 plus inventory(approx. $ 25,000) The Sellers Discretionary Earnings is over $ 150,000/yr. Limited Seller financing is available for a strong candidate with at least 70 percent down.
Seller is looking to retire once again and will be available to assist with the transition as needed.
Additional information can be provided with a signed confidentiality agreement, and proof of funds.
Ad#:2310174
