Business for Sale Overview:
Anyone with restaurant and/or bar experience knows how difficult it is to create a successful establishment, especially building it from the ground up – so many factors have to play out perfectly and combine together to spell success. It’s that perfect combination of factors that have come together to create one of the finest and most popular new eating and drinking establishments in North Texas. This operation has only been open since November of 2007, but still managed to exceed $2 million in gross sales in 2008, with revenues split almost 50/50 between food/alcohol! Even with the inefficiencies of getting the bugs worked out of the system, the challenge of getting people to come in the doors and the added cost of expanding the facility by 50%, this location still turned a profit last year. Now that all the kinks are worked out, this business is poised to become a staple of the community, and a cash cow for the new owner. Labor has stabilized at about 19% of revenue, food costs at 14% and beverage costs at 12%, plus the lease is locked in for another 8 years. Anyone looking to start their own restaurant/bar, or to acquire an operation with huge growth on the horizon, needs to examine this opportunity. At $2 million in revenue, this establishment should easily cash flow around $300,000 for the owner – and now that most of the growing pains are out the way, those are the kinds of figures that can be expected in the near future. For further information, please complete our Non-disclosure Agreement at http://www.vrbigd.com/nda. Jeremy Furtick can be contacted by email at jeremy@vrbigd.com or by phone at 972-792-0100.
“For up-to-the-minute business updates on VR's current, new and pending listings, follow VR at http://www.twitter.com/vrhuntingtonbg.”
For more information regarding this listing please contact us by completing the "Contact the Seller" form to the left. We look forward to hearing from you.
Property Features and Assets:
Originally, the facility was 4,600 square feet with a full bar, full kitchen and dining room. An additional 2,200 square feet were added last year to create a “party room” with its own small bar, a stage for live music and a game room with darts and tables. Capacity is about 300 people inside. There is also a 1,500 square feet outdoor patio with seating for another 50 people.
Market Competition and Expansion:
Prior to opening this business, the owners did a tremendous amount of market research to determine the location was prime for this type of restaurant/pub - considering the explosive growth in both residential and commercial development, as well as the young professional family demographics of the area fitting their target. There are plenty of dining options in the immediate vicinity, which only improves the visibility of this location - but there is no direct competitor to them in the area. The owners implemented their biggest growth strategy within 12 months of opening, which was to expand the facility by 50% and add a private room for live music, parties and games. That addition has had a positive impact on revenues and offers even more possibilities in the way of private functions.
Reason for Selling:
Owner's health concerns are forcing the family to
Additional Details:
- The property is leased.
- The owner is willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This is not a franchise resale opportunity.
- This is not a distressed business or bankruptcy situation.