Business Overview:
This super hip Highland Park area restaurant with liquor and a large outdoor patio is an extraordinarily enchanting venue in one of the city’s hottest areas. The unique venue has recently been entirely refurbished and a new conditional use permit was put in place to create its ambiance and signature vibe.
Training: 2 Weeks at 20 hours/week.
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Property Features and Assets:
The 2,468 square foot indoor-outdoor venue leases for a remarkable $3,536 per month on a lease until December 2022 with two 5 year options. All of the business’s furniture, fixture, equipment, Type 47 Liquor License and goodwill will be included in the sale. Approximately $17,000 in inventory will be sold at cost at close in addition to purchase price.
Market Competition and Expansion:
While competition in the immediate vicinity has increased, this venue has made a remarkable splash in a very short period of time. As a result, it has established itself and its concept. It stands out from direct competition on all fronts – from its unique buildout to its eclectic menu.
As this establishment only operated with beer and wine since opening, the recent addition of a liquor license dramatically increases the venue’s options to bolster revenue and the high margin sales associated with spirit and specialty cocktail sales. New management may also revisit the venue’s labor expense, as it appears to represent 39% - 42% of considerable revenues (by comparison, rent is at 1.8% - 2.2%).
Reason for Selling:
Personal
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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