Contact: Michael Greengard
Email: [email protected]
Your Reference ID: MG1092317
It has been a great 25 year run for the founder/owner/seller of this very successful boutique, gourmet restaurant in southern Michigan; however, the owner now feels it is time to sell his Bistro, retire, and relocate to his Florida home. His decision could be your opportunity.
Located the past seven years in a very attractive downtown storefront with a favorable third party lease, the business has 13 loyal employees who know about the intended sale and embrace welcoming only the second owner/operator in the business’s history. The seller has invested several hundred thousand dollars of his own money to insure that the attractive restaurant interior, which seats 70 patrons, matches the quality and integrity of the cuisine. There is not a comparable facility within a 25 mile radius.
This top-rated (Yelp, Trip Advisor, and the like) restaurant boasts average revenues over the past four years of nearly $1.0 million annually. For the same period, average SDE (seller’s discretionary earnings – the historical normalized cash flow available to pay an owner-operator and service debt) exceeds $200,000 annually. The listing price of $539,000 reflects a favorable 2.6x SDE.
The restaurant has a full liquor license and features an extensive wine offering. Importantly, the business has excellent books and records. A couple of presumably easy growth opportunities include serving more than the 10 meals weekly currently offered and ramping up the catering component which the seller started reducing (due to his age) in 2016.
For more information about this nicely cash flowing, well priced, high-end restaurant, please contact Mike Greengard (email@example.com).
Location(s): Southwest Michigan
Asking Price: $539,000
Cash Flow: $200,000