Breakfast Cafe Gross $1,920,000 yr. $132,000 Dn. Assume 3.75% note
Business Description
Well established for over 35 years. Serves Breakfast and Lunch. Open from 6:30 to 3:00 (7) days per week. BUYER ONLY INJECTS $132,000 DOWN (INCLUIDNG INVENTORY) AND ASSUMES AN EXISTING EIDL LOAN IN THE AMOUNT OF $348,000 WITH MONTHLY PAYMENTS OF ONLY $1,700 PER MONTH INCLUDING get this!! 3.75% INTEREST. Owner limits his activities to Banking (3) days per week and staffing every one to two weeks. The seller is way over staffed with 6 cooks 4 dishwashers, 8 waitresses, and 5 hostesses,. The sellers payroll runs over 36% with food cost at 24%. BUYER MUST HAVE RESTAURANT EXPERIENCE TO ASSUME THE EXSITING EIDL (SBA) LOAN. The process to assume the loan takes about (3) months. Seller serves Beer & Wine which does well on the week ends. Historically this café should be netting between $150,000 & $200,000 year. Because the seller has chosen to operate with heavy labor and food costs he is only netting around $76,000 year. Put an active owner/operator in this café and watch the bottom like take off.
About the Business
- Years in Operation
- 35
- Facilities & Assets
- Full service Breakfast Lunch Café with Beer & Wine. Well known for it's quality food and friendly family atmosphere. Seats approx. 125 customers. Relies on local patrons and a host of hi way travelers, and tourists especially on weekends.
- Market Outlook / Competition
- The market for this area is good. Plenty of Hi way traffic. The are several other small to medium breakfast restaurants in the area.
- Opportunities for Growth
- The market condition for this café is excellent. The seller has been living on his reputation for many years and has not aggressively attempted to promote, or advertise the business in order for it to grow back to the days when he was grossing over $2,500,000 yr.
About the Sale
- Seller Motivation
- Retiring
- Transition Support
- Seller will assist in the transition.
- Financing Options
- Buyer assuming the existing EIDL loan in the amount of approx $348,000 3.75 % interes
Listing Info
- ID
- 2378726
- Listing Views
- 2670
Listing ID: 2378726 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. See our full Terms of Use. Learn how to avoid scams.
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