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Profitable European Restaurant & Lounge For Sale
Location Iowa,United States
Asking Price Range $500K - $1.0M
Gross Revenues $639655
Net Profit / Cash Flow $168000
Cash Flow Type Sellers Discretionary Cash
Seller Finance Not Disclosed
Year Established 2009
Number of Employees 20 - 34
Inventory 120000
Relocatable No
Number of Employees 20 - 34
Real Estate Owned
Training Seller will provide training
Reason for Sale Relocation
Description Business Summary:
Very profitable, well known, established restaurant located in Central Iowa. The menu is filled with European favorites such as pastas and pizza as well as unique home-made entrees. If American fare is more to your liking you can try one of many deluxe sandwiches including mouth-watering burgers. Appetizers and salads also are available plus a full kids' menu. The lounge is a must see with its unique d‚cor. The bar is fully stocked with a wide variety of liquors, beers, and wine. A training and transition period is included as well. This is a ready to go, turnkey operation in which a new owner can begin reaping profits immediately.
Opportunities:
Currently only open for dinner six days a week, the restaurant hours can be expanded to include lunch and Sunday service. There is room for parties or special events and a catering business can be developed in the area.
Organization & Staff:
Hours are 4:30 p.m. to 10pm Monday thru Thursday, 4:00 to 10 .m. Friday and Saturday. The restaurant is closed Sundays. Current staff consists of 28 part-time and four full-time employees. This is a loyal staff that would be willing to stay with the new owners.
Location and Facilities:
The restaurant is located in a vibrant community in Central Iowa and caters to families, businesses, and tourists. There are several large industrial businesses in the area that attract travelers from around the world. In addition, the city is home to a popular college and hosts events and festivals all year long to attract tourists.
Well maintained real estate (38,400 sq. ft.) is being offered along with this business at a price of $550,000. Facility can be leased as well should a buyer choose to purchase the business only. Lease rate of $5750/month.
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