Well Established Casual Restaurant in a Great Location

Business
  • Listing# : 16017
  • Listed Price : $175,000
  • Total Sales : $272,395
  • SIC : 5812
  • Down Payment : $175,000
  • Status : Active
  • Discretionary Earnings : $55,616

Business Type :

Restaurants / American Restaurant

Business Description :

Operating over 50 years and through multiple generations this cozy eatery carries forward the tradition of producing family style meals enhanced with great service and a friendly staff. The diverse menu offers up scrumptious breakfast options made up of Omelets, Waffles, French Toast and sides including eggs any style. Following breakfast are lunch options from Club Sandwiches to Burgers & Fries. And Dinner options from a Seafood Platter, Shrimp Basket, Crab cakes, Bar-B-Que, to Chicken Tenders, only to name a few. The location’s longevity and familiarity has had customers coming back nearly their entire lifetime. This well located and positioned restaurant is a unique icon, a diamond in the rough. Some say, a local treasure!, with a strong reputation and positive reviews consistently reflecting great food & service at reasonable prices. Operating in 2,237 square feet the facility is in good condition providing comfortable seating for 50 patrons. Of particular note the businesses financial reporting is not on a calendar year but rather from July to June. Therefore 2019’s financials reported here span through the first half of 2020. And in that period the business did recognize a fall off in business, nearly $100,000 from the previous year as a result of COVID-19. Historically the business has exceeded $350,000 in gross revenue with Discretionary Earnings over $75,000. The good news is; the business is recognizing returning and very positive business, and getting back to a normal performance level is within grasp. Finally, the owners are well known in the area the restaurant serves and will readily provide amble training and a smooth transition into the business for a winning buyer candidate.

Assets/Liabilities:

    • Accounts Receivable $0
    • Incl :
    • Real Estate $349,500
    • Incl : Available
    • Inventory $2,860
    • Incl : Yes
    • Liabilities $85,363
    • Incl : No
    • FF&E $75,000
    • Incl : Yes
    • Other: $0
    • Incl :
    • Leasehold $0
    • Incl :
    • Total Assets $77,860
    • Incl : Yes

Lender Prequalified: No

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