Iconic Quick Service 20 yr Restaurant -Dogs/Burgers/Seafood

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Iconic Quick Service Restaurant-High Traffic Area/ Owner Retiring
Asking Price:
$249,000

Gross Revenue:
$605,363
Cash Flow:
$100,000
(Seller's Discretionary Earnings)

EBITDA:
 Not Disclosed
Inventory:
$5,000
not included in asking price

FF&E:
$100,000
included in asking price

Real Estate:
$375,000
not included in asking price

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Business Description

This restaurant has a following and great reputation. Owner is ready to semi-retire by selling the business and keep her real estate. Rent will be $3200 NNN which is well below the rates in this high traffic area and will be negotiated directly with owner for the terms agreeable. The hot dogs are famous amongst the local area and beyond. People that visited as children are returning to visit. The seafood is freshly breaded and fried to order. There is an operating manager that has been in position since the beginning. The buyer can choose to be an absentee owner, like the current one or choose to run the restaurant and capitalize on keeping more of the profit. Food cost is under 33 % for last 3 yrs.

About the Business

Year Established:
1998
Number of Employees:
12
Real Estate:
Owned
Building Sq. Ft.:
1,800
Facilities:
Vitro Seating for that old time flair. Commercial Hood/Fans, ample fryers and cooking equipment. Mr. Winter Walkin is mint. Efficient kitchen flow is conducive to their fast food service speed. Plenty of Parking Spaces.
Website:
www.saveinparadise.com
Market Outlook/
Competition:
Lots of restaurants in area, but no fresh seafood restauants that are quick service. This is a unique iconic restaurant that is welcoming. Get an inexpensive hot dog meal or pop in for a philly. Nobody does fries like this establishment, especially cheezy ones. Family friendly -- Great Lunch Business -- Open Short hours 11-7, 11-8 (friday - sat)
Growth & Expansion:
New Owner can stay open later. Delivery has not been added and population of Newington is 30,562. Internet Ordering has not been initiated which would add even greater efficiency. Registers are regular programmabe, not POS.
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About the Sale

Reason For Selling:
Semi Retiring
Training/Support:
Owner will be on call over phone for a month and will offer all trade secrets! Manager may be willing to stay on staff to ensure a fast transition.

Listing Info

ID:
1502869
Ad Detail Views:
86

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Business Listed by

Jennifer Swerdlick

Fine and Company - Res 0805638

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