Under Agreement: This 36-year-old full-service restaurant is a local favorite gathering place where "Strangers meet and Friends depart". It specializes in Steaks and Seafood and stands apart from competition by providing the right food - much more than a typical steakhouse; the right atmosphere - cozy lighting and soft music; and the right entertainment - music nights on Wed, Thu, & Fri. It has been written about in the local press and during its heydays it was voted as the #1 local restaurant by Worcester Telegram and Gazette.
The average annual revenue over the last 4 years is $520,823, and the business generated an average of $46,747 per year in Sellers Discretionary Earnings. By increasing the hours of operation, a new owner can grow the annual revenue to around $650,000 per year - a figure that the business achieved in the years when it was open longer than current hours. This is a well-established business and it makes for an excellent investment for anyone interested in the food & beverage industry. It has all the necessary logistics with suppliers/vendors in place and a very close-knit customer base.
Seller is seeking retirement after running the restaurant for 36 years, is expecting $137,000 (including inventory valued at $19,087) for the sale of this business, and is willing to consider limited financing to qualified buyers.
Interested in learning more? For a complete presentation, please contact Sanjay Ahuja at 508.868.8189.
Seller Reference #BOSTOMA002-N2
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