Asking Price: $150,000

Gross Revenue: $175,000

This specialty restaurant is located in an east suburb of Cleveland. The building originally was a stand-alone Long John Silver Seafood Restaurant and was purchased by the current business owner. It sits on a ½ acre lot with parking for 45 cars. There is also a detached 10’ X 16 storage shed. It is situated among a cluster of non-competing fast food business. This business been operating for about 21 years and has a strong following. In recent years, the owners, who are anticipating retirement, have been operating on a limited schedule. They are open for business on Wednesday and Thursday from 11 am to 10 pm, on Friday from 3 pm to 12 am, and on Saturday from 2 pm to 11 pm. They are closed on Sunday, Monday and Tuesday. They also take an annual tropical vacation for seven weeks during the winter months.

Year Established: 1986

Employees: 2 full time - 3 part time

Facilities: The 2,600 square foot building includes seating for 24, comprised of five booths and two tables. However, 90% of the business is takeout, so there is an opportunity to grow the business by cultivating eat-in customers. There is also a gaming machine on a service agreement, giving the owner 40% of the revenues. Since it is a game of skill and not chance, the owner says it is legal. It was installed in February 2007.

Market Outlook and Competition: This is an independent all cash business. The current operating schedule leaves plenty of room for growth, simply buy operating a full schedule similar to the other neighboring restaurants. Therefore, the current financial results are not indicative of what this business is capable of doing and has done in the past. Some growth opportunities include working a normal weekly schedule every day; cultivate eat-in trade; increased advertising; start taking credit cards; put in an ATM machine; deliver to nearby businesses; promote catering, and more.

Reason For Selling: Seller would like to retire.