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Asking Price$199,000
Revenue$572,000 EstablishedUndisclosed
Cash Flow$0 EmployeesUndisclosed
FF&E$200,000 FranchiseNo
Inventory$4,000* RelocatableNo
Real EstateUndisclosed Home-basedNo
* Included in Asking Price
Here's the skinny on this neighborhood gem: a couple of guys who own a successful restaurant equipment business backed another guy they'd known for years with a track record of running successful restaurants. After spending $260K to gut-renovate and equip this restaurant/bar, it didn't take them long to figure out that their operating partner hadeither lost his touch or something worse than that. You now have the opportunity to turnaround the existing concept or utilize the space for a new one of your own. The operating partner got the boot a few months ago and the two owner-investors just don't have the time or know-how to make this happen themselves. The rent for 2,000 square feet is a way below the market $3,607/month. You'll find another 600 square feet in the basement, which is used for prep and also contains a walk-in box. The front end of the store has a very inviting rustic decor. While this business is being sold primarily for its asset value and below market lease, 85% of its gross sales are on credit cards and, therefore, verifiable. The landlord stands ready to round up the lease to 10 years. What this restaurant/bar needs now is a new hands-on owner, who can figure out how to make the most out of this one. On-line delivery orders only account for about 10% of gross sales at this point and, given the menu items served here, could make a much larger contribution. Please be very discreetwhen visiting this location, as the employees and customersdo not know it's for sale. Should you want to make an appointment to meet with the sellers and get a full tour, kindly contact the listing broker Jay Goldman. Please call 1-877-735-5224 for further information. Attention Business Owners:We are always in search of quality businesses to list, so if you are thinking of selling your business or would like to acquire another business, please email us at listingmanager@vestedbb.com or call us at 1-877-735-5224 to discover the difference that is Vested Business Brokers.
Training/Support:The seller will train the new owner.
Seller Financing:$199,000.00 Down and Make your best all-down offer!
Sale Reason:The sellers neither have the timenor the know-how to turn this restaurant/bar around.
Ad #99355
Seller Reference #30525
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Jay Goldman
1-877-735-5224
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