Family Restaurant & Sports Bar For Sale
Location Kentucky,United States
Asking Price Range $250K - $500K
Gross Revenues $689000
Net Profit / Cash Flow $6000
Cash Flow Type Sellers Discretionary Cash
Seller Finance Not Disclosed
Year Established 2009
Number of Employees 20 - 34
Inventory 400000
Relocatable No
Number of Employees 20 - 34
Real Estate Leased
Training As needed
Reason for Sale New job in Florida
Description This is a relatively new restaurant located in Independence, Kentucky. The facility and restaurant are less than three years old. The restaurant sales are currently around $55,000 per month. In the first year the restaurant was open (2009) monthly sales were $80,000. The decline is attributed to both the economy and increased competition.
The business is operated on a somewhat semi-absentee basis. The business is marginally profitable on an adjusted cash flow basis.
INVESTMENT HIGHLIGHTS:
The area is growing with new businesses and population growth. A new, large apartment complex is opening shortly nearby.
Good staff
Turnkey opportunity
Full Liquor License with Sunday sales
Seating capacity: 177 including bar area and party room
Priced well under cost to built and equip
Leased facility with possibility of purchase at a great price
PURCHASE PRICE:
The business is being offered as an asset sale, free and clear of all debt and liabilities for $269,000. Included in the sale are furniture, fixtures and equipment, all food and beverage inventory, website, and other intangible assets.
The owner spent over $295,000 on equipment & furniture. Additional build-out costs absorbed by the owner estimated at over $100,000.
A more active owner or a change in concept, plus acquiring it under cost, could make this an excellent acquisition.
Sales for 5 months thru May 2011 = $277,000
Sales for 2010 = $689,000
Click Here To Contact Seller
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