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Beach Front Restaurant

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Seller Financing
Related Searches:

Maine   |  Businesses for Sale Between $1M and $5M

Asking Price:
$2,600,000

Gross Revenue:
$1,870,000
Cash Flow:
$650,000
(Seller's Discretionary Earnings)

EBITDA:
 Not Disclosed
Inventory:
$10,000
not included in asking price

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

Real Estate:
$2,600,000
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. With 100+/- feet of ocean frontage, seating for over 200 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. A new addition was structurally designed for a roof-top lounge and the lower level was previously used as a jazz lounge and nightclub. Day-to-day management is in place, making this opportunity an exceptional acquisition for a synergistic acquirer.

About the Business

Year Established:
1990
Number of Employees:
10 FT / 15 PT
Real Estate:
Owned
Facilities:
The half-acre +/- property features incredible ocean views and a two-story facility of approximately 9,000 +/- square feet capable of seating over 200 guests. The restaurant has several function rooms, which are able to accommodate a range of functions. 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 take advantage of facility expansion opportunities, including building an upper level roof-top deck with direct ocean views. 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 $50K. Inv. $10K (est.).

Listing Info

Keywords:
Restaurant, fine dining, weddings, functions, real estate, oceanfront, spirits, alcohol
ID:
1373674
Ad Detail Views:
60

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$
months
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Business Listed by

Brad Kaplan

Maine Business Brokers

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Sponsoring Broker:

Brian Hanson
Maine Business Brokers

U.S. Census Data for Maine
Age

Gender

Ethnicity

Source: Decennial Census (2010), United States Census Bureau.

This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.

U.S. Community Survey Data for Maine
Income

Education

Source: American Community Survey (2010-2014), United States Census Bureau.

This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.


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