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Restaurant-American(not a Franchise)-30+YrsTurn-KeyReal estate available for purchase.
USA
Asking Price: $1,400,000
Cash Flow: $620,000
Gross Revenue: $2,600,000
FF&E: $300,000
Inventory: $25,000*
Real Estate: $2,350,000*
Established: 1995
*not included in asking price.
Business Description
New Listing! Hugely successful restaurant with a long history. Real estate available for purchase!
Longtime successful, beloved local restaurant (not a franchise) started and operated by the owners for over 30 years. It is located in a highly visible freestanding building they own, and designed and built for the volume, visibility, success, and longevity it/they have enjoyed. This is a rare opportunity to purchase a restaurant business successfully built and operating, fully staffed and ready for you to walk into and be successful and profitable, Day 1. The part of the city where it's located continues to land new multi-million-dollar business investment and expansions, leading to continued growth of new neighborhoods and subdivisions, increasing their traffic (detailed in the CIM). They are technologically current with a new POS system and an internet presence allowing for online ordering, a robust To-Go business, tablet use by servers. Expanded and dedicated To-Go, POS speeding table turn, and additional kitchen production equipment are just one of the recent improvements made providing opportunities for exciting growth, several of which cannot be shared in this ad (detailed in the CIM). They have been operating this business for growth and profitability, not retirement! Their staff is like family with some have +20 years of tenure and a desire to remain. The owners are able to vacation and take time away from the business due to the level of on-staff management they have developed. The building and equipment are well maintained, so that there is not a big capital expense need upon continuing to operate the business, post-closing.
Ad#:2254781
Detailed Information
Detailed Information
Location: Gibson County, TN
Inventory: Not included in asking price
Real Estate: Owned. Available for purchase for additional price.
Building SF: 8,000
Employees: 26
Furniture, Fixtures, & Equipment (FF&E): Included in asking price
Facilities: Their building is highly visible and designed by restaurant operators (them) for the scale, volume and production they knew was possible. They own the building and would consider a sale but otherwise will provide a satisfactory market rate lease and term to the new owners. It is well maintained as is the kitchen equipment, furniture and fixtures.
Competition: The local and regional market continue to enjoy unprecedented growth and business investment both from within and outside the state of Tennessee, which currently and in the future will fuel further growth.
Growth & Expansion: * New POS system providing for expanded and dedicated To-Go business. * New POS system utilizes tablets and remote entry for better order accuracy and speed. * New and expanding businesses in the city (and near the restaurant) are fueling residential growth (their bread-and-butter customers). * Potential new menu vertical could have a large impact to top-line growth (detailed in CIM). * They have not explored expansion except that their regional reputation in West TN would seemingly support another location.
Financing: Small Seller Financing to qualified buyer
Support & Training: The current owners want the new buyer to be successful and are eager to help train them on the specifics of this particular restaurant, with recipes, including facilitating relationships with the staff, management, customers, vendors, and other stakeholders.
Reason for Selling: After 30 years, they are ready to retire, travel, & visit family out of state.