Mid-Michigan Landmark Bar/Restaurant and Catering Business

Contact: Joel Hekler
Phone: 517-719-6401
Email: [email protected]
Your Reference ID: JH1020218

Description:

The owner of this attractive, iconic Bar/Restaurant in the heart of a stable rural Mid-Michigan community has decided after 40 years it is time to turn over the reins to only its second owner. The 120 seat recently renovated facility (at a cost of over $450,000) located on over a one-half acre parcel featuring a large paved parking lot on one side of the building and enough vacant land on the other side for outside activities.

The building also features a unique 50 seat outdoor covered patio that hosts live bands on summer weekends. This business is generating revenues of nearly $800,000 and recorded over $200,000 of SDE (seller’s discretionary earnings, the historical, normalized cash flow to pay an owner-operator and service debt).

Included in the price is a thriving catering business well known in the area as serving excellent food (and lots of it) for many large corporate events, weddings, graduations, holiday parties and the like. The catering business comes with three trailers, one of them is equipped with a full kitchen, another is a mobile gas-fired rotisserie. The Seller would consider running the catering component of the operation under contract for a period of time if the new owner wishes. Finally, this establishment enjoys a strong carryout business including meaningful sales of its well-known pizzas

The asking price of $695,000 includes the business and real-estate. The business has 22 employees (full and part-time combined) to handle its lunch, dinner and early evening business.  The business is managed by an employee with 22 years of service. The bar/restaurant is open seven days a week. It features a newer, fully functional kitchen with seven pizza ovens, a 16’ cook line, an 8,000-cfm overhead ventilation system, a fire suppression system and a built-in 100’ wooden bar top with a 16-tap set up…… and, well you get the picture…everything needed to continue serving their many loyal patrons.

The sale price includes all furniture, fixtures, and assets (with a combined low six-figure value in place). The class “C” liquor license (worth approximately $50,000) is included in the sale along with the business name, website, and all goodwill. Additionally, the catering license allows for off-site beer and alcohol service. In order to ensure a smooth and profitable transition, the Seller will include 60 days of training/mentoring as part of the purchase. A meaningful Seller Note will be available to a qualified buyer.

To learn more about this attractive business with an equally attractive price tag, please contact Joel Hekler (joel@praxisbusinessbrokers.com) or call him anytime on 517-719-6401.

 

Other Information:
The real estate is included. Recently renovated at a cost of $450,000. One hundred twenty seat facility located on over a one-half acre parcel featuring a large paved parking lot on one side and enough vacant land on the other side for outside activities. A class "C" liquor license valued at $50,000 is also included.

Location(s): Mid Michigan

Asking Price: $695,000
Cash Flow: $200,000
Gross: $800,000

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