Owner Retiring - Restaurant And Property
Location Georgia,United States
Asking Price Range $500K - $1.0M
Gross Revenues $187500
Net Profit / Cash Flow $62000
Cash Flow Type Sellers Discretionary Cash
Seller Finance Not Disclosed
Year Established 1972
Number of Employees 10 - 19
Inventory yes
Relocatable Not Disclosed
Number of Employees 10 - 19
Real Estate Owned
Training during transition
Reason for Sale Ready to retire
Description This NW GA Steak House and Family Restaurant has been an ongoing money maker since 1972. I have owned it for the past Eleven years.
When I bought it, My goal was to operate it get myself invested And then retire.
You will be buying the property equipment inventory. (Lock, stock and barrel) It has a paved parking lot for 50. With aprx 3450 sq.ft. on 1+ acres. It seats 112 with the current setup. And Will accommodate 150 easy. Has a separate dining facility for parties. And we do several wedding receptions, Christmas parties etc. It has a great reputation and draws from a 25 mile radius easily and some from further away. There is room for additional hours for a young and eager owner. It is operating Non-Alcoholic, But is permitted in the area. That and other items perhaps would enhance the menu. I am doing all that I care to do. New Fresh ideas, would be a good thing. The area is in the beginning stages of a boom.
The purchase price will be based on what you want.
There are some very High dollar decore that you may not want.
There is a separate cabin on the property that you may not want.
Currently a rental property. But If you like either or all, I will price it to you. The value is derived from the following formula that is used by most brokerage companies. (value of the property and improvements) + equipment + inventory + goodwill (goodwill = 3X annual pretax income). The price without the decore and without the cabin will be in the $650,000 range.
I am ready to retire and willing to make someone a good deal.(If you have Finances arranged) Come look, If you like it Make an offer, You might get it.
The restaurant is very clean and looks fresh. I do believe that a minor facelift would be in order. It has had basically the same appearance for the past 10 years. The people (customers and salespeople) that I have questioned about it ask why would I do a thing? It may be because I see it everyday.
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