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Asking Price:	$500,000 USD USA Dollars
Business for Sale Industry:	Food & Beverage: Restaurants, Fast Food, Deli
Reason for Selling:	Owner is looking forward to retiring.
Year Established:	1978
# of Employees:	41
Yearly Revenues:	$1,250,000
Yearly Net Profit:	$150,000

Business for Sale Overview:

Busy, Popular Lounge & Restaurant with Real Estate on 1.760 acres is for sale for $500,000. Well established business since 1978 with the present ownership in charge since 1993. Many loyal local customers, as well as travelers come to enjoy the services provided by Owner & warm friendly, dependable staff. Entertainment is provided in the lounge 7 nights a week & includes karaoke fun. Value of assets which include all contents of restaurant plus all of the kitchen equipment is approximately $400,000. Value of the real estate is approximately $325,000 This business is close to apartment complexes.

Property Features and Assets:

Located in Odessa, Texas on major highway close to many apartment complexes . Both restaurant & lounge cover an area of 7,390 sq.ft with lots of guest parking. Odessa sits midway between Fort Worth & El Paso & is thriving with new businesses & a booming manufacturing sector Odessa has many great features including a favorable climate, affordable yet upscale housing, highly skilled & virtually union-free labor force & an excellent quality of life. Odessa is also proud to be the home of the University of Texas Permian Basin & Odessa College. The Odessa Development Corporation was created to expand & diversify the industrial base, to bring in new industry & encourage expansion of existing industry. Odessa has a state-of-the-art health care service & because of its strategic location in the heart of West Texas has grown to become the health care hub for surrounding communities.

Market Competition and Expansion:

Some competition. Great potential for expansion by introducing catering, delivery service & other service options to the community..

Additional Details:

• The property is leased.
• The owner is willing to train/assist the new owner.
• The owner is not willing to work for 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.