Profitable Restaurant In Outer Banks NC

Business Overview:

This Fast Casual Mexican Restaurant is located in a coastal community, with a great reputation built over a successful 10 years of operations. This restaurant is poised for growth with a new owner as the owner is ready to retire.

This business has experienced increased revenue year-over-year, with the owner's benefit being over $450,000 while only being in operation for 9 months of the year. This restaurant is a destination location as well as a favorite among locals. Customers travel from miles around to taste authentic Mexican cuisine. This restaurant was pandemic-proof and has excelled with its fast-casual nature.

This Mexican Restaurant is a turnkey operation with knowledgeable staff It is currently only open during vacation season, so it provides a new owner with opportunities for growth by extending business hours and lengthening the operating season. The current hours of seasonal operation are 8 am-3 pm, 7 days a week.

The business has been SBA Pre-Approved requiring 15% down from a qualified borrower.

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Property Features and Assets:

Monthly Rent: $1,200.00

Square Units (Foot, Meter): 7,800

Lease Expiration Date: March 1, 2025, 9:00:00 PM

Terms Options: option to renew

FF&E Overview: This turnkey business comes with all FF&E necessary to make this restaurant profitable and desirable. New equipment in 2019 with some replacements as recent as Dec 2022.

FF&E General Condition:   FF&E is maintained and well-kept with appropriate replacement as required

Market Competition and Expansion:

Potential Growth: Many opportunities for growth exist for this business under the current business model. Growth opportunities for this business include extending hours. Currently the business is open seasonally from March to November. A new owner could open the remaining months of the year. Additionally, the business is only open for breakfast, lunch and sodas. Adding another service to include dinner would increase revenue for the business. Increasing the retail portion of the business could also provide growth for the business. Lastly, franchising the business could be an opportunity for growth.

Competitive Overview: When tourists are on vacation, one of the main objectives is to try many places to eat. The Outer Banks have a variety of restaurants to eat at, but the ratings and reputation of this business prove it to be a favorite and a must visit.

Reason for Selling:

Retirement

Additional Details:

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