NOT DISCLOSED, Washington
| Asking Price |
$2,100,000 |
Year Established |
1949 |
|
| Annual Revenue |
$1,988,109 |
Reason for Selling |
Retirement |
|
| Annual P/L |
$0 |
Attention |
Wes Martin |
|
| Annual Cash Flow |
$374,285 |
Listing Number |
995418 |
|
| # of Employees |
18 |
Business Category |
Food & Beverage: Restaurants, Fast Food, Deli |
|
Business Overview:
This beautiful lakefront restaurant & lounge has been serving their rural community since 1949. Well known to the locals and one of the few choices in the area with little to no competition, they draw in many tourists and summer residents as well during their spring to autumn busy season. Seating capacity of about one hundred and twenty, they have the ability to host events and the like. The lounge offers big screen sports viewing, billiards, and pull tab gambling. The dining room offers lake views as well as limited outside dining and access to the private dock for fishing. It’s not unusual to catch a view of a float plane pulling up to the dock to enjoy a sunset dinner. The owner is paying themselves about $85,000 in rent for the real estate. This figure is NOT included in the stated cash flow figures and therefore is available towards the purchase mortgage. The cash flow is from business operations only. The Seller does work in the business, primarily in purchasing, customer satisfaction and bookkeeping. This opportunity needs an involved Buyer who wants to live rural and enjoy a more relaxed pace in life. If you are ambitious, keen on restaurant service, and desire a better lifestyle, this could be the opportunity for you. All inquiries will be required to submit an NDA to receive information. For confidentiality, the photo in this ad is not of this opportunity specifically.
Property Features and Assets:
<p>Beautiful and picturesque waterfront with private dock on a busy recreational lake. The restaurant & lounge areas seat up to sixty each with full capacity at 120. The lounge is arranged as a sports bar with big screen televisions, pool, poker, and pull tabs. The dining room has beautiful waterfront views of the lake and the private dock. There is limited outside seating for summer dining. Currently the owners allow fishing off their shoreline. </p><p> </p>
Market Competition and Expansion:
<p>While there are other restaurants in the area, the nearest comparable is miles away, which effectively makes this opportunity the only choice in the area for locals. The busy season is Spring through Autumn as the population explodes as people return to their summer homes and tourists swarm to the area. The area is rural, but about twenty minutes from the nearest main town. The Seller works in the business, mainly overseeing purchasing, customer satisfaction and bookkeeping. A Buyer should be open to living in the country and enjoying a more relaxed way of life.</p><p> </p>
Additional Details:
- The property is owned.
- The owner is willing to train/assist the new owner.
- This is not homebased business opportunity.
- This is not a franchise resale opportunity