Iconic Bar & Restaurant in Prime Location

Not Disclosed, VA
Fredericksburg City County


Asking Price: Annual Revenue:
$425,000 $1,263,928

Food & Beverage: Restaurants, Fast Food, Deli


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RE: Iconic Bar & Restaurant in Prime Location Broker: Richard H. Halterman

Quick Facts

Asking Price: $425,000
Annual Revenue: $1,263,928
Net Profit: Not Disclosed
Cash Flow: $1,158,931
Total Debt: Not Disclosed
FF&E: $25,000
Real Estate: Not Disclosed
Year Established: 1981
Employees: 23
BBN Listing #: 90934955
Broker Reference #: 2003-15268

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Business Overview:

The Restaurant is a classic, casual American restaurant with a loyal customer base. Importantly, the restaurant has grown steadily over the past 2 ½ years under the current ownership with improved revenue and profits in each year and projected revenue and profits for the current year to exceed previous years significantly. The restaurant is owned and operated by a small group of experienced business-men and women, two of whom have extensive restaurant experience. The improved performance is a result of attention to detail, a well-trained wait staff and importantly, quality food prepared by experienced chefs and prep staff.

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Property Features and Assets:

The facilities of the business are housed in a 3,000 square foot historic building with a 1,250 square foot dining room, a 650 square foot event back room and a 1,100 square foot combined kitchen, prep room and dishwashing area. Additionally, the business utilizes a 1,200 basement for storage of paper products, beer, wine and Virginia ABC alcoholic products, dry goods and canned and bottled food products, coffee, teas, juices, etc. and an administrative office space. Assets=$425,000.

Market Competition and Expansion:

The primary focus of the restaurant’s sales and marketing efforts is accomplished by utilizing the considerable reach of social media marketing. They have retained an acclaimed, award winning graphic design company to develop a contemporary identity for the restaurant. Additionally, they have engaged their services for the re-construction of their website, printed media and all other business identity and branding services. The purpose is to take advantage of the long history of success and local presence to bring the restaurant's brand into relevance for today’s marketplace. The Restaurant's new, updated and mobile friendly website was recently launched. There are several restaurants in this city with offer similar food fare, but none offer the quaint atmosphere and ambiance of this restaurant. It is definitely and draw locally and from around the area. There is a lot that could be done to increase revenues and profitability of the establishment. For example, there is a newly added bar added to the restaurant that is not currently maximizing its potential. With proper marketing this event venue has the potential to be the “go to” place for businesses, civic organizations and local private club meetings and lunch/dinner events and gatherings. Also, it could consider as a box lunch carry out venue for the busy, working class of millennial's or any combination of the above. Other potential business expansion opportunities for an aggressive/ambitious new owner(s) would easily be offering breakfast/brunch on weekends. One of our competitors is doing just that with great success. The current owners are happy with the status quo and not interested in growing revenues beyond its current level and therefore have not nearly realized the full potential of the restaurant and all it has to offer to the ambitious new owner(s).

Reason for Selling:

Age of owners and Retirement.

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.

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