Popular Restaurant Saloon
Location New York,United States
Asking Price Range < $250K
Gross Revenues $364000
Net Profit / Cash Flow $50000
Cash Flow Type EBITDA
Seller Finance Yes
Year Established 1999
Number of Employees 6 - 9
Inventory 99000 Equipment Only
Relocatable No
Number of Employees 6 - 9
Real Estate Leased
Training The owner will remain post-closing for 30 days and supply a transitional period.
Reason for Sale The owner is retiring from this food service industry.
Description Modern Pub Restaurant located on an active commercial avenue in Westchester County, New York. The business has been established for fifteen years and is well known in the city as a popular successful Tavern. The business has a gross yearly income of $364,000 and a dependable net income to the owner operator. The sales include 60% liquor and 40% food products. The present owner is semi absentee and has elected to retire from this food service industry. The business is located in a highly active commercial area with a large volume of successful retail businesses which attract thousands of workers and shoppers. The business offers great foods, drinks, live entertainment, private parties, catering and sports TV. They are well known for their popular happy hour and ongoing specials. The facility has a fully equipped commercial kitchen and a huge sit down bar that can accommodate twenty five patrons with a full seating capacity for ninety nine customers. This particular business has seven employees consisting of bar maids and kitchen workers who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll is approximately $8,000. The business facility which consists of 1,950 square feet and has a capacity for approximately one hundred customers. The sale includes a fully equipped Pub Restaurant including a fully equipped commercial kitchen, refrigeration & freezer units, POS system, displays, shelving, tables, computers, including all the necessary equipment to maintain the day to day business operation. The sale includes a ten year lease agreement with a monthly rent of $4,500 and rent security of $10,000. The facility has convenient Public Street parking near to the business facility. The business is active seven days per week, with hours from 4:00 pm to 2:00 am, 4:00 am if desired. The sale includes a certificate of occupancy and entertainment approval from the particular municipality and a state issued consumption liquor license.
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