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Meridian Mulligan's Bar & Eatery
| Asking Price: | $85,000 | Inventory: | |
| Gross Revenue: | $335,400 | Real Estate: | n/a |
| Cash Flow: | Not Disclosed | FF&E: | $90,000 ++ |
| ++ included in the asking price ** not included in the asking price | |||
THE COMPANY
Located on Main Street near the freeway, Mulligans has been serving its clientele for over a year. The business provides lunch, appetizers and dinner along with beer/wine and other adult beverages. Food and drink specials are featured daily. There are eleven TV screens to watch your favorite sporting event, or pool tables and several arcade type games are available for customer enjoyment. For the past year sales break down as follows: food about 40%, beer about 34%, wine about 1% and liquor about 25%. Most beer sales are draft. The liquor license is being sold separately.
THE FACILITY
The facility has about 3,200 square feet of total indoor space of which approximately 2,400 square feet is available for public use. An additional 200 square feet is available outside on the patio for good weather fun and relaxation. The current lease expires on May 31, 2010 with three additional five year renewal options. Monthly rent of $5,500 has been reduced to $4,500. Property taxes, which are payable by the lessee, amount to approximately $5,400 annually. Occupancy is rated at 149 inside and 32 outside. Currently seven employees are waitstaff/bartender and three kitchen staff, two of whom assist with catering.
THE REASON FOR SELLING
The owners wish to pursue family interests.
THE POSSIBILITIES
This opportunity needs to be acquired by someone who will work full-time bringing new excitement, ideas and energy as well as reducing labor costs. The major focus on promoting more night life has been absent in this business. Generating positive results in this area would result in a dramatic improvement in sales and profitability.
Located on Main Street near the freeway, Mulligans has been serving its clientele for over a year. The business provides lunch, appetizers and dinner along with beer/wine and other adult beverages. Food and drink specials are featured daily. There are eleven TV screens to watch your favorite sporting event, or pool tables and several arcade type games are available for customer enjoyment. For the past year sales break down as follows: food about 40%, beer about 34%, wine about 1% and liquor about 25%. Most beer sales are draft. The liquor license is being sold separately.
THE FACILITY
The facility has about 3,200 square feet of total indoor space of which approximately 2,400 square feet is available for public use. An additional 200 square feet is available outside on the patio for good weather fun and relaxation. The current lease expires on May 31, 2010 with three additional five year renewal options. Monthly rent of $5,500 has been reduced to $4,500. Property taxes, which are payable by the lessee, amount to approximately $5,400 annually. Occupancy is rated at 149 inside and 32 outside. Currently seven employees are waitstaff/bartender and three kitchen staff, two of whom assist with catering.
THE REASON FOR SELLING
The owners wish to pursue family interests.
THE POSSIBILITIES
This opportunity needs to be acquired by someone who will work full-time bringing new excitement, ideas and energy as well as reducing labor costs. The major focus on promoting more night life has been absent in this business. Generating positive results in this area would result in a dramatic improvement in sales and profitability.
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The information on this listing has been provided by either the seller or a business broker representing the seller. BizQuest has no interest or stake in the sale of this business and has not verified any of the information and assumes no responsibility for its accuracy, veracity, or completeness. Please review the full Disclaimer here.
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