Owner Financing is Available!
Business Overview:
An absentee-owned casual steakhouse located on busy Highway 377. The location is spotless and has a tremendous reputation for high quality food and friendly service. 90% of the guests drive at least 15 miles to experience the restaurant’s offerings! Fresh grilled asparagus with scampi butter and roasted almonds, jalapeno glazed grilled double chicken breasts, the only 20 oz. hand cut choice Rib Eye in the county, Dr. Pepper glazed Norwegian Salmon with roasted pecans, and the house dessert specialty, cinnamon pecan bread pudding with Jack Daniel’s
Bourbon glaze are just some of the reasons their Guests drive the distance just to experience these great flavors! The asking price for the assets of the business is $80,000 with $40,000 down payment and $40,000 seller financed to a qualified purchaser or $52,000 ALL-CASH. The assets include inventory at cost of $2,500 and FFE (Furniture, Fixtures and Equipment) valued at $65,000. The purchaser will need to assume 3 leases:
1) Ice machine $133.44/mo ending approx July 2011, 2) AutoChlor Dishwasher $167.39/mo and 3) Sirius music $5/mo (sound system owned by restaurant).
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:
The ~1,100 Sq. Ft. free-standing building sits on approximately 1 acre on Highway 377 between Granbury and Stephenville. Seller advises that traffic count is ~12,000 vehicles per day. The 3 yr lease rate is $1,500/month and expires ~December 31, 2012 with one 5- year renewal option at $1,800/month. The security deposit is ~$0. Purchaser is responsible for any real estate lease application or transfer fees.
Market Competition and Expansion:
This is a strong location with excellent potential. A new owner can continue to grow the business and profits in several ways: 1. Continue hands-on owner operation, 2. Extend hours, 3. Add breakfast and lunch, 4. Promote ”Banquet room” or “ meeting room” for rent for social events, meetings or birthday parties after hours or weekends, 5. Targeted Local advertising and marketing
Reason for Selling:
Health
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.