Owner Financing is Available!
Business Overview:
MegaBite Restaurant Brokers LLC offers, for your ownership consideration, a well-established Indian Restaurant offering delicious Indian dishes (vegetarian and non-vegetarian) in a relaxing atmosphere. The seller finished the lease space and purchased new equipment in 2007. The restaurant has a loyal and dedicated following. The owner estimates that 75% of the client base are repeat. Banquets and catering also generate ~15-20% of monthly sales. Known for its consistent and quality food, the restaurant offers extensive lunch/dinner buffets and menu service. The restaurant will benefit from a new owner's energy and promotion of the patio and bar service. The owner converted the current space and opened the current concept in 2007. He built the business by offering excellent and delicious food prepared and served by attentive staff. The restaurant is very popular amongst the Indian community, especially for weddings. The owner has made a lot of money and is ready to exit the food business and start a retail store.
The asking price for the assets of the business is $225,000 ALL-CASH or BEST OFFER. The assets include inventory at cost of $3,000 and FFE (Furniture, Fixtures and Equipment) valued at $75,000. A purchaser will need to assume the dishwasher lease (approximately $275
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 ~6,600 SF stand-alone building is leased for $10,000/month. Maybe negotiate a lower lease? The restaurant is located in a stand-alone building that consists of ~6,600 square feet with a large patio. It has two separate dining rooms (private area can seat ~90-100), buffet area with two 22' granite-topped buffet lines, large fully-equipped kitchen and prep area, ~18x8 walk-in cooler, ~7x8 walk-in freezer, dry storage, restrooms.
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 Add tables/chairs and open Patio Dining Area, 2 Start serving mixed drinks. Expand bar. 3 Promote a happy hour for customers, 4 Continue to promote as banquet location for weddings and corp events, 5 Bring new energy and ideas to create Excitement in restaurant, 6 Internet marketing via a website, emails, Yelp.
Reason for Selling:
burn-out - moving into smaller, non-food retail bu
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.
Resources: