Owner Financing is Available!
Business Overview:
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. This business has very strong sales and cash flow, even with absentee owners. An owner operator would do wonders for this business. 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 44% and if you include supplies (napkins, to go containers, dry goods, etc.) it's just below 46%. 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.
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 Base monthly rent is $7,900, NOT including RE Taxes (about $18,000/year) . The current owners also own the building/property and are willing to either sell the building/property, or lease it to you & give you a long lease, if you want. There are about 290 seats. Annual rent increases are 3%. The building is about 10,000 sq ft.
Market Competition and Expansion:
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 $975,000. The asking price for the business only is $475,000 plus inventory. The total purchase price (business and property) is $1,450,000.00 plus inventory.
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: