6-Day B'fast Cafe, Absentee, Rev $821K, Net $220K, SBA OK, at $660K

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6-Day B'fast Cafe: Absentee, Revenue $821K, Net $220K, SBA OK, at $660K, Downey
Asking Price:
$660,000

Gross Revenue:
$821,000
Cash Flow:
$220,920
(Seller's Discretionary Earnings)

EBITDA:
 Not Disclosed
Inventory:
$8,000
not included in asking price

FF&E:
 Not Disclosed
included in asking price

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Business Description

> The 23-year-old-traditional old-fashioned breakfast café, which is open for 6 days in a crowded, always busy atmosphere, is popular with locals and is renowned for its unique home cooking
> Located at the threshold of a mid-sized wall-to-wall strip center. Well exposed to the major traffic on busy streets. Surrounded by commercial and residential neighborhoods near Fwy I-5
> This full-service American-style meal diner that has been a community bastion for 23 years with a tasty, affordable breakfast. Inexpensive, not cheap on portions.
> Literally a very busy restaurant all day long and even royal customers are waiting in a long line
> Indeed, seller's tax return is strong enough for buyer to obtain SBA loans below 30% down payment
> Although the café is not modern style, but it is not too old to be seen. Rent is cheap enough to pay for a month's rent with only one day's sales
> Absentee-owner business.
> Here is a quick summary of operations and financial information:
• Monthly gross sales are an average of $68,412 per month, according to the 2018 tax return
• Actual monthly net income is an average of $18,410
• All in rent is $2,730, including NNN
• New lease is negotiable at the same rate over 10 years, increasing by 3 % per year
• Restaurant size: approx. 1,540 sq. ft
• Very efficient short business hours are from 7:30 am to 3:30 pm during the week, from 7:30 am to 2:30 pm on weekends, and closed on Mondays• A total of 11 part-time employee work: 1 manager, 4 cooks, 1 prep cook, 2 dishwashers, 4 servers). The owner never works in the kitchen or on the floor except when needed to help or monitor.
• Ample parking space at shopping center
• SBA loans are available with a 30% down or less. When a $200,000 down payment is made, approx. a $5,520 installment per month will be repaid over 10 years
• Financial data such as tax returns, P & L, bank statements, POS reports, or merchant statements are only available to committed buyers who have proven purchase funds, experience and credit capabilities of 680+ Fico
• For more information, contact Kevin Kim at beerealty.kim@gmail.com
• An online NDA form attached for your convenience. Just sign and return

About the Business

Year Established:
1996
Number of Employees:
11
Real Estate:
Leased
Building Sq. Ft.:
1,540
Lease Amount/Mo.:
$1.77
Lease Expiration:
12/31/2030
Facilities:
Beer & wine served, Fully equipped kitchen, 3 compartment sinks, Dish washing machine, Refriferators. Freezers, large hood, 2 grills, Deep frier, caar-broilers, Ice maker, soda dispensers, 15 tables and cozy counter, 65 seating capacity, Counters, Wine coolers
Market Outlook/
Competition:
No competition nereby
Growth & Expansion:
Has potential to grow by opening for dinner, opening for Monday. They did little or no marketting. Initiate marketing through social media can help increase in sales and profits
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About the Sale

Reason For Selling:
Retirement
Training/Support:
Two weeks trained by on-site manager, including 8 hours by owner
Seller Financing:
N/A. SBA Loan Available

Listing Info

ID:
1590361
Ad Detail Views:
0

Attached Files Attachment Disclaimer

  NDA(Non-disclosure Agreement) (907 KB)
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Business Listed by

Kevin Kim

Bee Realty Group
License# 01922126

 Show Phone Number

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