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Bustling Bbq Bar With Live Entertainment For Sale

Location  Texas,United States
Asking Price Range  < $250K
Gross Revenues  $480000
Net Profit / Cash Flow  $50000
Cash Flow Type  EBITDA
Seller Finance  Yes
Year Established  2011
Number of Employees  6 - 9
Inventory  27500
Relocatable  No
Number of Employees  6 - 9
Real Estate  Leased
Training  Negotiable. Seller will provide 2 weeks training included with the purchase price.
Reason for Sale  Seller wishes to pursue development (land) opportunity.
Description  MegaBite Restaurant Brokers LLC offers, for your ownership consideration, a new and growing Texas style BBQ and Bar in North Richland Hills, Texas. This classic Texas style BBQ was developed by the owner. He developed his recipes serving BBQ at TCU's Parking Lots. He renovated the current location and opened November 2011. He has quickly developed a solid monthly sales volume of $35-45,000. Prices were increased July 1, 2012 and this is expected to add $2000-3000 higher profit/month. The owner has already begun booking catering and weddings for this fall. The owner has expanded the bar by adding a rear patio that seats 100. The owner also added breakfast serving fresh made muffins and tacos. The location, layout and design are functional and adaptable to many concepts. The dining area, kitchen and bathrooms are spotless. This opportunity is awaiting an experienced restaurant operator who can grow the business through outside marketing. The asking price for the assets of the business is $150,000 with $80k down + $70k seller financed OR $120,000 CASH. The assets include inventory at cost of $2,500 and FFE (Furniture, Fixtures and Equipment) valued at $25,000. The purchaser will need to assume an equipment lease of $571/mo through October 2013 for ice machine, beer box, freezer and 4 keg boxes. Facilities: The space consists of a dining area, bar area, open kitchen, 2 restrooms, Walk-in cooler and large patio area with bar in the rear. Restaurant is ~2780 SF with space for expansion. The monthly rent is ~$1000/month for a two year lease expiring approximately July 31, 2013. Option for 3 years at $1250/month.
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