NOT DISCLOSED, Texas
| Asking Price |
$298,000 |
Year Established |
2018 |
|
| Annual Revenue |
$974,055 |
Reason for Selling |
Focus on other businesses |
|
| Annual P/L |
|
Attention |
Stevan Perez |
|
| Annual Cash Flow |
$58,938 |
Listing Number |
979389 |
|
| # of Employees |
|
Business Category |
Food & Beverage: Restaurants, Fast Food, Deli |
|
Business Overview:
Here’s a unique opportunity to acquire a successful, well-established restaurant and event venue in the heart of McAllen, TX. Located in a prime spot in Downtown, the venue has built a strong reputation over the past 7 years, offering fine dining with locally sourced ingredients and exceptional service. Recently featured on Beat Bobby Flay, the owner’s expertise and the restaurant’s quality have been recognized nationally.
Now primarily an event venue, it hosts weddings, corporate events, social gatherings, and more. The space boasts a modern interior, state-of-the-art kitchen, and a professional staff. Its prime location attracts a steady stream of affluent locals, professionals, and tourists.
While the venue currently focuses on events, it can easily be converted back into a restaurant. The business has done $1,808,000 in sales in 2021, $1,730,000 in 2022 and $974,000 in 2023. With room to grow this business can hit those numbers once again. The chef, who played a key role in the restaurant's success, is willing to assist in running the business for the first few months after the sale. This is an excellent opportunity for anyone looking to take over a thriving business with a strong community presence and the flexibility to pursue various avenues of growth.
Property Features and Assets:
<p>Monthly Rent: $10,000.00<br><br>Square Units (Foot, Meter): 6,000<br><br>Lease Expiration Date: November 30, 2025, 10:00:00 PM<br><br>Terms Options: 4-year term<br></p>
Market Competition and Expansion:
<p>Competition: <br></p><p>This business faces minimal competition in providing a unique experience. Key competitive advantages include an impressive number of glowing reviews, stunning scenery, and an award-winning chef.</p><p>Expansion: <br></p><p>McAllen, Texas, presents an exciting opportunity for a high-end restaurant looking to expand or establish a foothold in a thriving market. The city has experienced significant growth in population and affluence, creating a strong demand for upscale dining experiences.<br>Key Growth Opportunities:<br>1. Increasing Affluence: With a growing population and rising disposable income, more residents are seeking fine dining options, making it an ideal market for high-end restaurants.<br>2. Tourism Growth: McAllen attracts visitors for various events and attractions, including festivals and cultural activities. Positioning the restaurant to cater to tourists can enhance revenue.<br>3. Event Hosting: There is a growing demand for venues that can accommodate private events, weddings, and corporate gatherings. Expanding catering services and creating versatile event spaces could significantly increase profitability.<br>4. Social Media and Marketing: Leveraging social media platforms and local influencers can help boost visibility and attract a younger demographic looking for unique dining experiences.<br>5. Local Collaborations: Partnering with local farms and artisans can enhance the menu's appeal and support the community, further attracting customers who value locally sourced ingredients.<br>6. Diverse Menu Offerings: Introducing seasonal menus, chef’s specials, and unique culinary experiences can keep the menu fresh and exciting, drawing in repeat customers.<br>With its strong economic fundamentals and community support for local businesses, McAllen offers a promising landscape for a high-end restaurant to thrive and expand!<br></p>
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