Description of the business for sale
This restaurant is nationally known and has been family owned for over 60 years. It has a stellar reputation for its great American food, and its family atmosphere. There is seating for up to 128 people and they are famous for their steaks, catfish and chicken dishes and uses many family recipes. All this is accompanied by a full service bar. Recently, poker machines in Illinois have been legalized. A new owner could add these poker machines for a substantial added revenue. The state is estimating that these machines could earn $20,000 per year each. Adding 5 new machines could increase the revenues by $100,000. This is a very profitable business for the owner with a loyal customer base. The current owner wishes to retire but would like for the tradition to continue. The Seller is also willing to finance a % of the sale to a qualified buyer. If you would like more information about this business, or if you would like to schedule a site visit, please contact the agent either by phone or by email.
Support / Training provided by seller
Owner will train the buyer at no cost for 4 weeks at no cost.
Description of the facilities
Assets to be transferred with the sale of the business:
FF&E: $56,000
Inventory: $12,500
Real Estate: $425,000
Other Assets: $25,000