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Businesses For Sale   >>   Banquet Businesses For Sale   

Restaurant & Banquet Facility With Real Estate

Location  Colorado,United States
Asking Price Range  $500K - $1.0M
Gross Revenues  $550000
Net Profit / Cash Flow  $130000
Cash Flow Type  Sellers Discretionary Cash
Seller Finance  No
Year Established  1978
Number of Employees  10 - 19
Inventory  50000
Relocatable  Yes
Number of Employees  10 - 19
Real Estate  Owned
Training  Yes
Reason for Sale  Retiring

Gerhard's Steakhouse & Seafood Restaurant is located on the Western Slope of Colorado in Delta. Priced at $710,000 includes the real estate, building, business and FF&E. Centrally located with easy access off Hwy 92 which connects folks to surrounding communities, 25 minutes from Montrose and 40 minutes from Grand Junction. Home of the most breathtaking scenery and an affordable lifestyle, the moderate climate provides 4 seasons ideal for the outdoor enthusiast. Due to numerous circumstances, the Owner who has owned and operated restaurants for decades is now managing this restaurant from 100 + miles away and is now looking to retire. The ambiance is appealing and the dinner entrees featuring seafood and signature steaks have been personalized with a German flair. Over $176,000 has been put into capital improvements during the last year, including new banquet tables, new flooring, new sewer lines with a 1,000 gallon grease tank, new electrical and new plumbing, new convection oven, rebuilt walk in freezer and walk in cooler, new paint inside and out plus much, much more. Very upscale lunch, dinner and Sunday brunch restaurant in excellent condition, is approx. 8,896 sq.ft. with the banquet room approx. 2,520 sq.ft. that has a stage, dance floor, restrooms and a raised level for additional dining or entertaining. The Owner has made several financial adjustments bringing the expenses in or below the national averages and has generated approx. $130,000 in discretionary earnings during the past fiscal year period. Lots of upside to the business by increasing use of the banquet facility, promoting the bar area with specials, game night, etc. and developing a strong marketing program would boost the revenue stream. Support and training would be provided. Contact for a detailed FF&E list and capital improvement list as well as the recast P & L. Signed confidentiality form and Buyer Profile needed for additional info.

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