Richmond Restaurant Chain- 2 Locations + Catering!

Not Disclosed, VA
Richmond City County

Asking Price: Annual Revenue:
$540,000 $1,790,496

Food & Beverage: Restaurants, Fast Food, Deli

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RE: Richmond Restaurant Chain- 2 Locations + Catering! Broker: Mike Metzger

Quick Facts

Asking Price: $540,000
Annual Revenue: $1,790,496
Net Profit: Not Disclosed
Cash Flow: $89,250
Total Debt: Not Disclosed
FF&E: $212,860
Real Estate: Not Disclosed
Year Established: 1999
Employees: 36
BBN Listing #: 30754955
Broker Reference #: 2006-17176

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Business Overview:

Every once in a while, the opportunity to own a true landmark comes along! This full-service restaurant has been a fixture in the Richmond market for over 20 years offering top-quality food and down-home service at affordable prices. Richmond awards and accolades are too many to mention.

Like most restaurants, this business had to overcome challenges during the COVID 19 pandemic. 2020 cashflow was $239K. It's important to note that 2021 cashflows are NOT indicative of this restaurant's normal performance as both locations were closed for 8 weeks due to staffing issues and major renovations including new HVAC and fire suppression systems. However, as the communities emerges from the pandemic, customers are anxious to get back out to eat! Both locations are fully staffed with strong General Managers in place. This allows the owner to focus on business development, team building, and quality assurance.

This company also enjoys a strong catering business that is booming with 7-10 jobs per week. This trend is expected to continue as companies and groups get back together in 2022.

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Property Features and Assets:

Location 1: 2,000 Square Feet, owned by the seller who is willing to sell or lease to the new owner. Location 2: 900 Square Feet, 2 years left on lease with options to renew. Assets = $212,860

Market Competition and Expansion:

Restaurants come and go every day in Richmond, but this company has built a strong brand in the Richmond area for over 20 years. There are several similar style restaurants in the region, but they struggle to compete on price and quality. The new owner could easily leverage this well-known brand to expand into other locations in the region. There is also ample opportunity to grow the catering business.

Reason for Selling:

Owner has 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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