Attractive Family Restaurant, Owner Retiring

Contact: Glen Toadvine
Phone: 7349299032
Email: [email protected]
Your Reference ID: GT1010620

Description:

This restaurant has maintained an excellent community relationship for many years, which allows it to produce $1.1 million dollars per year, year after year. With seating for 250 customers, the restaurant is open and busy six days per week with regular customers coming in weekly to attend the many informal social group get-togethers. The large banquet room is frequently reserved and is also where the many social groups meet. Hours are 6:00 AM – 10:00 PM every day except Monday. The restaurant serves no alcoholic beverages which of course avoids a myriad of possible problems. The building, dining room and kitchen area are all custom designed, up-to-date, and in impeccable condition

Over many years the restaurant has precisely adapted to what the community wants, offering a broad menu, great food, great service, with a very well-seasoned staff. The reported gross revenue has been consistent at about $1.1 million annually which generates an income level that more than satisfies the owner. The customer base has been extremely loyal for generations and could likely be expanded with even a modicum of marketing.

If you want to own a consistent money maker, and you are willing to invest $150,000 of your own cash, and continue to run this restaurant like clockwork, you should continue to gross an average of $22,000/wk. The owner lives in the community and participates in some local events. It is suggested the buyer also engage the community in some way.

The owner would be willing to reduce the monthly rent of the 5,500 square foot restaurant to $6,500 monthly for the first two years, with the rent being $7,000 monthly thereafter. In addition, the owner is willing to offer a seller note with $150,000 cash down. Terms would be for up to 10 years with interest at 8%.

For more information, please contact Glen Toadvine (glen@praxisbusinessbrokers.com).

Other Information:
Owner willing to finance a qualified buyer with $150,000 down.

Location(s): Michigan

Asking Price: $420,000
Cash Flow: 135,000
Gross: 1,150,000
Inventory: 15,000

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