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Businesses For Sale   >>   Banquet Businesses For Sale   

Successful Restaurant Lounge

Location  Pennsylvania,United States
Asking Price Range  $1.0M - $2.5M
Gross Revenues  $1400000
Net Profit / Cash Flow  $250000
Cash Flow Type  EBITDA
Seller Finance  Yes
Year Established  1970
Number of Employees  20 - 34
Inventory  375000 Equipment & 2000 Inventory
Relocatable  No
Number of Employees  20 - 34
Real Estate  Leased
Training  The owner will remain post closing for 45 days to supply a transitional period.
Reason for Sale  Owner is retiring after many years of success.

Description  
One of a kind highly successful restaurant which includes a valuable liquor license, banquet room for one hundred patrons, lounge nightclub with live entertainment and pizzeria all under one roof. The facility was fully upgraded a few years ago into a stunning restaurant with various venues. The facility consists of 8,875 square feet as a free standing building with a customer capacity for two hundred & seventy five. This high volume business is located in a wonderful area of Delaware County, Pennsylvania. The business is well known as a destination location with excellent food / drink and entertainment which includes music and comedy shows. The business has an average yearly income of $1.4 million dollars and a substantial net income to the owner operator. The seller is retiring after many successful years in the food service industry and will remain post closing to supply an appropriate transitional period to the purchaser. This is a dependable business and an excellent opportunity and the price reflects the value of the real estate, liquor license and income return. The sale includes a valuable consumption liquor license, multiple kitchens, refrigeration / freezer units, POS & accounting systems including various equipment required for this particular food industry. The building has a legal capacity for 275 customers, 8,750 square feet, on one main floor with a full basement and second floor private offices. This retail business presently has twenty two employees who are unaware of the pending sale and fully expected to remain post closing, monthly payroll of $14,000. The business is operational six days weekly with hours from 11:30 am to 11:00 pm Plus. The restaurant business has a valuable Pennsylvania consumption liquor license and approval for live entertainment included in the sale. Based on the asking price, required down payment and net income this business should supply a 19% return to the owner operator prior to debt service.


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