The Breakfast Restaurant That’s Too Busy for Its Automatic Toaster

“Sometimes you want to go where everybody knows your name”. While this isn’t the set for an 80s sitcom, this West Michigan business has a rich history and deep community roots. And our title wasn’t a joke - the sellers of this local institution bought an automatic toaster - toasting a piece every 6 seconds - that couldn’t keep up with their clientele! Why would anyone ever sell such a bustling joint? Sellers bought the restaurant they, literally, fell in love at - but managing full time jobs and a restaurant is too much.

Located in a growing West Michigan suburb, this leased restaurant space comfortably seats over 100 patrons. Known for its in-house baked goods, repeat clientele (Sellers estimate that 85% of its customers are repeat weekly customers), and expansive menu of traditional American fare, a new owner could increase topline revenue by expanding hours and offering delivery options.

A staff of over a dozen well compensated W-2 employees cover all the key facets of the operation both in front and back of house. A blend of seasoned employees and fresh faces ensures delicious food is served quickly, keeping up with the high paced environment while maintaining the quality standards set by ownership and expected by the town's many regulars.

Now let's talk numbers. For 2024, the Sellers stand to make almost $150K in SDE (the historical, normalized cash flow available to pay owners and service debt. Each of the past three years features total topline revenue in excess of $650K.

This value-packed opportunity, priced at $199,000 is structured to move quickly without the need for banking. At this incredible value you receive: (1) the enterprise value which includes an experienced staff along with systems, processes, and vendor relationships, (2) the cleanest kitchen we’ve EVER seen stocked with equipment with an estimated resale value in excess of $100,000, and (3) the goodwill of a local institution with 70 years of history in the community.

The sellers anticipate an asset sale in which they retain cash while retiring all liabilities. $50,000 buyer downpayment can be paired with a 5 year seller note, carrying 6.5% interest eliminating the need for bank financing. Seller is willing to assist in transition and move to a head waitressing role to continue serving and helping to maintain the incredible customer relationships with the many locals and regulars of this establishment.

Contact Miles Greengard at Praxis Business Brokers (616-350-8760 or [email protected]) today to learn more about this excellent business opportunity.