Owner Financing is Available!
Business Overview:
Some financing may be available. Located in a historic district near a resort area, this is a favorite destination restaurant, drawing from the Gulf Coast beaches to Mobile and Pensacola, Florida. Patrons have a choice of dining experience; from a larger and more of a fine dining restaurant with award-wining signature dishes. Another is a friendly and casual neighborhood bar with full food service, sandwiches and several TVs. Both feature a full array of dishes ranging from fresh seafood, a taste of New Orleans and a great selection of USDA choice aged Angus beef. Both offer a large and popular selection of wines.
A covered patio dining area has proven to be very popular meeting spot. Plus the business features a coffee shop, bakery, and specialty items, hand cut meat, pizzas and hot bar for lunch. All this is in 8,400 square foot updated building. The large and fully equipped kitchen is offering catering and now has an excellent reputation throughout the Gulf Coast.
The restaurant has been recognized by Wine Spectator and the James Beard Foundation, plus it has consistently won numerous awards and recognition and has been featured in several national magazines. A well-designed web site is also included. The absentee owner did not have any restaurant experience and opened the restaurants as a labor of love without any thought to food and labor costs. Plenty of parking and seating for 168. Great area to live and work.
Food cost is 40% and labor cost is 33.2%. A new owner/operator with proper experience can cut food cost to 35% and labor to 28%; both percentages are accepted standards for upscale restaurants. If these percents were achieved and factored in, the actual cash flow should increase to somewhere around $120,000, which falls into the correct profit range for a business doing the same volume. Contact Lanier Chew at 251-626-4949.
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.
Reason for Selling:
Moving out of State
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.