Absentee Operated Restaurant & Bar on Main Street

Park City, UT
Summit County

Asking Price: Annual Revenue:
$395,000 $1,150,000

Food & Beverage: Restaurants, Fast Food, Deli

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RE: Absentee Operated Restaurant & Bar on Main Street Broker: Saul Komisar
Owner Financing is Available!

Quick Facts

Asking Price: $395,000
Annual Revenue: $1,150,000
Net Profit: Not Disclosed
Cash Flow: $153,000
Total Debt: Not Disclosed
FF&E: $171,700
Real Estate: Not Disclosed
Year Established: 1993
Employees: 11
BBN Listing #: 663049963
Broker Reference #: 1401-806174

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Business Overview:

This beautiful restaurant is perfectly located on Historic Main Street in Park City and well known by both locals and tourists. The restaurant consistently generates over $1MM in revenue serving dinner only. A new owner could do substantially more by offering a full lunch, breakfast or weekend brunch, or by utilizing its full bar liquor license (one of the few available in Summit County.) The current owner runs the business absentee, and is not involved in the daily operations, which makes this a unique opportunity for either an active owner wanting to take the restaurant to another level of growth or an investor seeking an opportunity to own a business in one of the most beautiful places in the world, adjacent to world class skiing, mountain bike trails and what Outside Magazine recently described as “One of the best small towns in America.”

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Property Features and Assets:

In business for decades, the restaurant has a talented front and kitchen staff, refined systems of operation, a competitive advantage due to its unique menu and brand name recognition. All of this has contributed to increased revenues in 2020 despite being closed several weeks and reduced operation because of COVID-19. The atmosphere is both elegant and comfortable and due to its location, adjacent to Park City Mountain Ski resort, comes with a vast amount of dependable walk-in traffic. This establishment has everything needed to accommodate immediate growth including a spacious kitchen, walk-in refrigerators, freezers, a large bar, walk-in wine room, open seating area, etc. All equipment is in excellent working condition and the build-out has been well maintained. Inventory consists of a wide selection of fine wine and spirits (not incl. in the current price.) There is a long-term lease in place.

Market Competition and Expansion:

There is competition in Park City, but this restaurant has carved out its own successful niche, with little direct competition to its unique menu. There is a huge opportunity for growth simply by expanding the hours of operation to include lunch and breakfast. Perhaps the most underutilized asset of the business is the club license, which the current owners have not taken advantage of both in terms of hours of operations and the opportunity to attract a large, late-night crowd of cash paying guests. There have been highly successful bars on Main Street with a full bar license that do not offer any meaningful food options, this business can accommodate both models if the new owner would like. Further, the current owner is not involved in the daily operations, so the new owner has the possibility of promoting the business through more direct interaction with both customers and staff. There is also very little being done in the way of traditional advertising.

Reason for Selling:

Health Issues.

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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