Business for Sale Overview:
Established Local Landmark!
Full service, gourmet restaurant with apartment and 2 stores in Upstate New York ... near Lake Champlain is an established country full-service gourmet restaurant that offers quality fabulous food in a casual and friendly environment . Business has a two-bedroom owner s apartment upstairs, with a satellite summer tourist focused Deli Shop and Wine Shop that overlook Lake Champlain. A year-around business, it has exciting yet reasonable lunches, dinners, fine wines and catering. The restaurant, opened in 2004, is in a charming town in the northeast NY near population centers of Plattsburgh, Burlington and the famous recreation areas of The Adirondacks, and the beauties and marinas of Lake Champlain. The 60 seat restaurant offers seasonal outside dining, and is an established local landmark, growing, with comfortable cash based profit and sales. The summer shops offer incremental profit potential and seasonal diversification. . The facility is essentially new, and the staff is loyal, experienced and stable. There is potential for merely summer opening by someone wanting a seasonal business near the lake , or , alternatively, this is a reasonably priced successful starter facility for a recent culinary grad or chef looking to step out on his own. It offers on-premises living for free in an area where lifestyle amenities abound. Sales in 2007 were above $ 470,000 and produced EBITDO of $90,000, with more in sight for 2008! Motivated owners list the turnkey operation, food inventory and real estate (with its two-bedroom apartment) for purchase at $485,000. A substantial wine inventory can be bought. Commercial bank finance may be available to a credentialed food prep qualified person who would be expected to have cash for investment and working capital of about $ 90,000. Sellers will aid orderly transition.
For more information regarding this listing please contact us by completing the "Contact the Seller" form below. We look forward to hearing from you.
Property Features and Assets:
The 3,500 square foot wood frame building is on .2 acres that front on a busy NYS road. It has interior seating for 60 diners that expand to 80 in the summer season when tables are set outside and on a dining terrace. The owner s upstairs apartment has a full kitchen, two bedrooms, full bath and living/dining room. Completely renovated in early 2002-3, there is essentially a new kitchen, a spacious walk-in cooler and an ample wine cellar. The leased seasonal Wine Shop and the Deli Shop are in a nearby lakeside village . Support/Training: Seller is staying in area and will assist in training and turnover of straightforward turnkey business.
Market Competition and Expansion:
Competition: There is little real competition for miles around! The restaurant is in a rural location near a famous lake and its busy ferry, marina and waterfront activity. Only one nearby restaurant, that opens only in high summer. Perfect situation for a hospitality oriented chef couple, a recent culinary graduate or even a seasonal operator. Associated Deli Store and Spirits ship serve summer tourists and offer diversification.
Growth/Expansion: Real expansion possibilities due current record of sales growth, and, in particular, increased amount of Canadian boating and camp oriented tourists. Area is a vacation and recreation heaven, near the Adirondacks, the High Peaks, and Lake Champlain s diverse water activities.. Large customer base and many repeaters.
Reason for Selling:
Owner wants to move to a larger location.
Additional Details:
- The property is owned.
- 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.
Contact the Seller:
To contact the seller of this business for sale, please complete and submit the following email form. The seller or broker will be in touch with you typically within 1-3 business days. Fields with an asterisk (*) are required.