MergerPlace

30 Yr. Highly Profitable, Fully Staffed

Virginia


  • Asking Price: $595,000
  • Gross Income: $1,814,376
  • Cash Flow: $278,695
  • Real Estate: Not Disclosed
  • Inventory: $40,000
  • FF&E: $200,000
  • Listing ID: #215808
  • Established: 1985
  • Employees: 24 FT/ 4 PT

Business Description

This business has been in operation over 30 years and still has growing Owner Benefits averaging over $250k for the past five years. Highly regarded, with many accolades, this restaurant is a destination location for its high quality cuisine and service. Interior upgrades have taken place over the last three years and key kitchen upgrades in the last six months. Commercial and residential development is underway in the area. The lease is under 6% and food costs are 30-32% of gross revenue.


Business Details

Primary Business Category: Restaurants, Bars & Other Food Services
Location: Virginia

Company Information

Year Established: 1985
Home Based: No
Franchise: No
Relocatable: No
Number of Employees: 24 FT/ 4 PT

Financial Information

Asking Price: $595,000
Gross Revenue: $1,814,376
Cash Flow: $278,695
FF&E: $200,000
Inventory: $40,000
Seller Financing Available: No

Property Information

Facilities:

Facilities include seating for approximately 120 which includes the bar area, main dining area and an additional dinning room which can also host up to 40 people for private events. Equipment typical of an established, full-service restaurant and bar included. Approved for outdoor seating.

Growth & expansion opportunities:

Continued growth opportunities include basic efficiency efforts in food and other overhead costs.

Competition:

This destination restaurant is established in the region and unique in it’s offering. Competition in this cuisine category is minimal.

Reason for selling:

Retirement.

Support & Training:

Will train for 2 weeks @ no cost. This restaurant serves their lunch menu from 11 am to 4:00 pm and their dinner menu from 4:00 pm to 10:30 pm highlighting their popular specialties and unique, award winning cuisine. Additionally the bar is open for both services.

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Business Listed By:

Fred Walker

Murphy Business Brokers