Owner Financing is Available!
Business Overview:
The owners have many other businesses and rarely have time to go to this location. They have a tremendous amount on their plates right now & are looking to scale back a little. Most of their businesses are located in Illinois, so it would make sense for them to sell the businesses outside of Illinois.
This is a full service restaurant and sports bar. On one half of the building is the restaurant, which specializes in home style cooking for breakfast, lunch and dinner. On the other half of the building is the sports bar, known for being the local hotspot, with drink specials, music, DJ's and plenty of TV's showing various sporting events. They also have room to handle banquets (up to 100 people). They have a nice website and you can download a copy of the menu directly from the website. Their liquor license is a full liquor license that allows you to serve alcohol until 3:00 AM each day, 7 days a week. All customers must be out of the building by 3:30 AM. This business has very strong sales and cash flow, even with absentee owners. An owner operator would do wonders for this business.
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:
*Note: The owners of the business also own the property. They prefer to sell the business only, however, they are willing to sell the property and business together. The asking price for the property is $875,000. The asking price for the business only is $450,000 plus inventory. The total purchase price (business and property) is $1,325,000.00 plus inventory.
Market Competition and Expansion:
You will see from their cost of goods, there's a lot of room for improvement to lower the costs and make more profits. Their cost of goods for 2010 was about 47% and if you include supplies (napkins, to go containers, dry goods, etc.) it's just below 48.4%. That's too high, but common in restaurants with absentee owners. Fortunately, the hourly rate for servers and bartenders in Indiana is only $2.13 an hour. This is nearly half of what it is in Illinois and saves them a lot of money each year in payroll costs.
Additional Details:
- The property is owned.
- 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: