Family Restaurant Owners need to Retire. Reduced for Quick SALE

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Asking Price:
$195,000

Gross Revenue:
$340,541
Cash Flow:
 Not Disclosed
EBITDA:
 Not Disclosed
Inventory:
 Not Disclosed
included in asking price

FF&E:
$40,000
included in asking price

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Business Description

Local Family Restaurant with focus on providing dinner dining, live band/dancing/karaoke and full bar service for late hour local customers since 2007. Restaurant specialty is their “great grilled Rib Eye steaks”. Owner opens restaurant seven (7) days a week until 2:00 AM. Gross Sales in 2017 over $300K! Tarrant County location is in high growth commercial and residential area. Surrounding area is home for major Defense Contractor Bell Helicopter and local industrial business centers. Restaurant is under 1850 sq. ft. of leased space. Lease is $3000/month with 3 of 5 years of lease term remaining. Lease is transferable to new owner. Seller has great relationship with landlord. Business is very clean, with dinning, full bar and pool and game table area. Restaurant has 100-gallon grease trap system in place. Transferable Liquor License. License has one (1) year left, expiring 9/22/2019.

About the Business

Location:
Euless, Texas
Year Established:
2007
Number of Employees:
3
Real Estate:
Leased
Building Sq. Ft.:
1,850
Rent:
$3,000.00 Per Month
Facilities:
1850 sq. ft. of leased space free standing building
Family owned and operated restaurant & bar. Owners ready to retire after 11 years running dinner only, Steak Restaurant plus Full Bar. Husband, wife and daughter have successfully run this local restaurant, catering to local customers and after-hours employees looking for food, entertainment and drinks being served until 2:00 AM. Business has been in the same location from previous owners to present.
Market Outlook/
Competition:
Restaurant is in a great location within the HEB/Mid Cities area of DFW Metroplex. Restaurant is only open for dinner but is the only local restaurant bar open until 2:00 AM. Great market for nearby “shift employees” for catering and delivery/take-out. There are no nearby food service businesses open late for the many nocturnal customers nearby.
Growth & Expansion:
New owner could take advantage of increased sales revenue by opening for Breakfast and Lunch in addition to dinner. Minimal local marketing via coupons, flyers, direct marketing would help sales revenues. Added “late hour” delivery service and catering would also be additional revenue stream. New John Peters Hospital Clinic is soon to open down the street.
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About the Sale

Reason For Selling:
retiring
Training/Support:
2 weeks

Listing Info

ID:
1571600
Ad Detail Views:
19

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Business Listed by

George Albright

Transworld Business Advisors of North Richland Hills

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