Upscale Restaurant / Bar For Sale
Location Texas,United States
Asking Price Range < $250K
Gross Revenues $495000
Net Profit / Cash Flow $85000
Cash Flow Type EBITDA
Seller Finance No
Year Established 1996
Number of Employees 6 - 9
Inventory 88500
Relocatable No
Number of Employees 6 - 9
Real Estate Leased
Training Seller will train buyer for 2 weeks as part of deal. Additional training negotiable.
Reason for Sale Seller moving.
Description ** Purchase Price Reduced to $240,000 ** This is a 12-year established neighborhood restaurant and bar. Its casual, friendly atmosphere attracts young professionals, families and business people. Its lunch business draws on the central part of the cityy?s business district, on nearby condos and lofts, as well as a large employer a few blocks away. With the advent of new residential and commercial construction, and a nearly complete light rail mass transit station, this area is in the early stage of a revival. This restaurant is known for its quality food and service. Its kitchen staff is experienced with the lunch head cook part of the team for seven years and the dinner head cook for 11 years. This restaurant consistently receives superior reviews form local entertainment and news print media. Although the business has a full liquor license, it closes by 10 p.m. on week nights and 11 p.m. on weekends. Extending these hours is an opportunity for a new owner to develop a later evening clientele. Food represents about 80 percent of revenue, while wine, beer and liquor is about 20 percent. The sale includes a large data base of customers and a website.
Facilities: Approximate 3400 sq ft at $3,200/mo. Lease month to month. Single-story building on a corner in the heart of a historic part of this southern city. Main dining area separated from bar/lounge area. Mediterranean decor. New A/C 2007.
Many restaurants and bars in this area. Always competitive. However, one of the largest employers in the city is a few blocks away and a nearly completed new light rail station two blocks away is spurring commercial and residential construction. The seller has reduced hours of operations for family considerations. Extending hours, especially on weekends and nights will enhance revenue opportunities. Email or contact Cal Milnes at 214-957-1360 for more information on this Restaurant / Bar for sale.
Click Here To Contact Seller
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