Business Overview:
Family style Bar & Grille Restaurant in nicest shopping center in town. Like-new décor. Unlimited parking. Around 20 sports t.v. screens on wall plus 5 large flat screens. Strong customer base and great staff in place over 13 years. Franchise support & training is 4% per year. Did around $1.1M gross and $200K net profit before. Current owners have no restaurant background and believe someone in the business would take it back to its former self, mostly with margins & cost controls. Average 60-80K gross sales per month currently. Needs a restaurant background owner.
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:
Assets=$28k
Market Competition and Expansion:
A Chili's moved in next door a couple years ago. Sales dropped for about a month during Chili's grand opening, and then everything went back to normal after that. No more drop. Current owners admit that they don't know restaurant business and have not watched their margins as well as they could have. The gross sales seem to be staying decent in this economy…but the costs and margins need to be improved upon. Also, in a decent economy this same location sold for around 400k.
Reason for Selling:
Owners bought for children to run, other interests
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 a franchise resale opportunity.
Resources: