Beach Front Restaurant – New Oceanfront Deck

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Asking Price:
$3,000,000

Gross Revenue:
$2,100,000
Cash Flow:
$650,000
(Seller's Discretionary Earnings)

EBITDA:
 Not Disclosed
Inventory:
$20,000
included in asking price

FF&E:
$150,000
included in asking price

Real Estate:
$2,200,000
included in asking price

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Business Description

This business is one of the state’s premier oceanfront hospitality destinations and a sought-after venue for weddings, corporate events, and private functions. A new 850+/-SF rooftop oceanfront deck was added prior to the 2018 season. With 100+/- feet of ocean frontage, seating for over 250 guests, multiple function rooms and outdoor seating, this facility is one of the most appealing and versatile restaurants in southern Maine. Opportunities exist to enhance the revenue stream. The new rooftop deck with outdoor seating for approximately 60 and indoor/bar seating for 40 has just started to be promoted. Day-to-day management is in place, making this opportunity an exceptional acquisition for a synergistic acquirer.

About the Business

Location:
Maine
Year Established:
1990
Number of Employees:
12 FT / 15 PT
Real Estate:
Owned
Building Sq. Ft.:
10,000
Facilities:
The half-acre +/- property features incredible ocean views and a two-story facility of approximately 10,000 +/- square feet capable of seating over 250 guests. The restaurant has several function rooms, which are able to accommodate a range of functions. The new 850 SF rooftop deck is a game changer. Currently, the business is closed during January and February. The facility has ample on-site parking.
Market Outlook/
Competition:
The company’s current market area is expected to provide exceptional growth opportunities for many years into the future. There are few oceanfront competitors in the region with the flexibility of indoor and outdoor dining space. The company has a solid market share that can be expanded.
Growth & Expansion:
Ownership believes that a redesigned internet/social media presence will enhance revenue growth. An acquirer could promote the new upper level roof-top deck. The facility has been carefully developed to date. The business has a strong management team and is now poised for future growth.
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About the Sale

Reason For Selling:
Retirement
Training/Support:
The seller will provide transitional training to a new owner.
Seller Financing:
Financing TBD on individual basis. Working Cap Needed $100K. Inv. $20K (est.).

Listing Info

ID:
1592755
Ad Detail Views:
0

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Business Listed by

Brad Kaplan

Maine Business Brokers

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Sponsoring Broker:

Brian Hanson
Maine Business Brokers


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