Description of the business for sale
This prestigious restaurant and bar is located in the heart of the city right in the midst of the entertainment district. It is a favorite lounge and dining spot for many business people of the area. The restaurant has solid customer base of private and corporate business clients serving a market area of about 600,000 in population. It is well known in the market area for quality food and service with a very friendly staff. The restaurant was turning away a large number of customers, especially on event evenings, so the owner recently increased the capacity with a building addition to accommodate up to 50 additional people. A separate private meeting and party area for groups of up to 30 is available and often utilized by medical groups and corporate groups.
GROWTH: The business income along with the appreciation potential of the prime estate property provides a good combination of security and income potential for a qualified buyer. Capacity for increased sales and business growth is available in the present facility. There is a positive outlook for this ideally located restaurant and lounge due to civic and business expansion and promotion and the high number of year round entertainment and tourist activities. A new owner could elect to be open on Sundays and take advantage of Mother s Day, Easter...
COMPETITION: The restaurant has solid customer base of private and corporate business clients serving a market area of about 600,000 in population.
Support / Training provided by seller
Support and training as needed thru the transition
Description of the facilities
The business and real estate is located in a prime Midwestern City metro area. The location is in a popular year around event and tourist area which has provided a good flow of traffic in the area. The 9,900 square foot 3 floor facility was constructed in 1896 and includes a modernized 3,300 square foot main floor restaurant and bar started in 1987, lounge area on the second floor and the newly added 975 square foot addition completed in 2007. The facility and equipment are maintained and in good condition.
ADDITIONAL FINANCIAL INFORMATION
•Financing: negotiable
•Inventory: $10,000
•FF&E: $75,000
•Real Estate$400,000
REASONS FOR SELLING: Retirement