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Asking Price:	$549,000 USD USA Dollars
Business for Sale Industry:	Food & Beverage: Restaurants, Fast Food, Deli
Reason for Selling:	Personal
Year Established:	1984
# of Employees:	15 part time
Yearly Revenues:	$960,000
Yearly Cash Flow:	$265,000

Business for Sale Overview:

This well established high-end restaurant has catered to Glendale, Burbank and Pasadena’s business leaders, local residents, families, and special occasion diners for the past 23 years. Conveniently located with a full parking lot, plenty of street parking and excellent freeway access, this opportunity provides the novice restaurateur a turn-key way to enter the industry with a proven concept, a delightful menu, and an experienced staff in place, or it provides the seasoned gourmet or lounge operator the opportunity to implement their own concept in a proven location.

Property Features and Assets:

The 3,000 square foot facility leases for $6,365 per month including CAM, on a lease valid until 2010 with a six year option. All of the kitchen equipment, furniture, fixtures, liquor license, inventory, goodwill / intangible assets, etc. will transfer in the sale. The facility has been recently refurbished with new carpets, updated décor, refrigeration system, signage, etc. The facility comes with a large kitchen complete with a sizeable walk-in cooler, storage area, manager’s office, and approximately 25 parking spaces.

Market Competition and Expansion:

Glendale is a sophisticated community, however, it does not offer many fine dining establishments that are as classy, elegant or as conveniently located as this unique restaurant. As this opportunity has a stable 23 year history, it is safe to say that there is little in terms of direct competition. A variety of indirect competition naturally exists. New owners may seek to capitalize upon the existing proven concept by increasing bar revenues, implementing a special events catering service (the kitchen is perfectly suited for catering) and potentially expanding the menu. Alternately, the buyers may seek to modify or completely change the restaurant by converting the facility to a high-end French venue, implementing a high end lounge concept, or turning the facility into a high volume casual dining establishment.

Additional Details:

• The property is leased.
• The owner may be willing to train/assist the new owner.
• The owner may be willing to work for the new owner.
• This may become a homebased business opportunity.
• This may become a franchise resale opportunity.
• This is not a distressed business or bankruptcy situation.