Restaurant & Grill With Great Potential
Location: United States -> Delaware -> New Castle
Industry: Food and Beverage > Restaurants and Fast Food (Non-Franchise)
Businesses for sale Summary
Owner cut back hours due to illness, but he has made some changes recently. The restaurant for sale was doing $7K a week on just Breakfast and Lunch with little revenue from Beer, Wine and Liquor. Owner brought back Happy Hour and live music on Saturday nights and revenues are up substantially (not yet reflected in Cash Flow number above). If you add Dinner and Nighttime Entertainment on weekdays back into the mix, the revenues will grow exponentially. 600 unit Apartment complex behind the restaurant has been completely renovated and Gen-Xers and young professionals are moving in. Restaurant has a 7-Day liquor license with Dance and Live Music Permit. Seats 125 inside and there is an area on side of building for outside dining and smoking. Business has permit for outside dining, but this patio area has not yet been developed. Set up for Salad Bar and both Hot and Cold Buffet line. Change of theme to Sports Bar or Nightclub/Restaurant might turn this into a gold mine. Kitchen equipment is in great shape with set up for both line cooking and Pizza. Good Opportunity for Chinese or Mexican Restaurant, as well. This is a ”must see” with real potential for an experienced restaurateur. Price Reduced for Quick Sale and Cash Offer will result in an even lower selling price.
Financials
Asking Price Range: < $250K
Gross Revenues: $370,000
Cash Flow: $95,143
Cash Flow Type: Sellers Discretionary Cash
Seller Financing: Not Disclosed
About The Business
Year Established: 2002
Number of Employees: 10 – 19
Relocatable: Not Disclosed
Franchise: Not Disclosed
Current Real Estate: Leased
Property: Property For Not Applicable
