Seller's Contact Information
- RE: Breakfast And Lunch Restaurant At The Oceanfront
- Contact: Frank Chebalo
Quick Facts
| Asking Price: | $295,000 | |
| Annual Revenue: | $676,893 | |
| Net Profit: | Not Disclosed | |
| Cash Flow: | $138,561 | |
| Total Debt: | Not Disclosed | |
| FF&E: | $34,150 | |
| Real Estate: | Not Disclosed | |
| Year Established: | 1969 | |
| Employees: | 11 | |
| BBN Listing #: | 77314955 | |
| Broker Reference #: | 2007-17507 |
Business Overview:
Established Turnkey Business in a Great Location with a view of the Ocean!
In Operation Over 50 Years!
Convenient Customer Parking
ABC license
Close Proximity to Future Development and City Projects Â
Sophisticated POS System
Operating over 50 years, this iconic and historic Pancake House and Restaurant is looking for a new owner to take the reins. Located in the heart of bustling activity the location has been serving locals and visitors for a lifetime. Known for their splendid and robust menu the location has something for everyone including a spectacular breakfast buffet. The doors open at 7 AM most often to a line of patrons waiting to start the day with a home style breakfast cooked to perfection. For those that like a later start or to skip breakfast and move right to lunch this location has you covered as they offer breakfast all day and a wide range of lunch choices from burgers to sandwiches, served with French fries, and if you like, add a cup of a homemade soup. On the breakfast side the facility offers up 14 different varieties of Pancakes and Delicious Belgium Waffles, eggs, bacon, sausages, and toast either as a meal from the menu or a buffet option. Their menu is developed to perfection and their clientele are regulars from the area and visitors from out of the area that come back every year to enjoy the location.
Eleven employees support the facility, and the owner operates full time. However, because of the seasonality associated with this location the business only operates eight months from March through November. It’s a busy and hectic eight months with a nice long break in the action. This arrangement provides great flexibility for an owner offering up a unique lifestyle. It also provides potential growth in the event a new owner would like to open year-round, perhaps on weekends only for the four moths the business is currently closed. The point is there is upside in increasing operating hours especially based on the businesses’ premier location. In any event, the owner understands that a buyer will need some assistance and transition into the business and the owner is willing to accommodate a buyer with a smooth transition and the proper amount of time to become completely familiar with the operation and customer base.
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Property Features and Assets:
Operating in 3,900 square feet the business easily handles over 100 patrons at any one time. The space is allowed 138 in total. The current lease will be ending in 2024 and the landlord will negotiate an extension or new lease to accommodate the wishes of a new tenant. Assets = $77,314
Market Competition and Expansion:
New and updated website and increase social media will enhance an already very successful location. In addition, increasing operating hours will go a long way in creating immediate growth.
Reason for Selling:
Retirement.
Additional Details:
- The property is Leased.
- The owner is willing to train/assist the new owner.
- This is not homebased business opportunity.
- This is not a franchise resale opportunity
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