Iconic Restaurant in Central Minnesota

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Iconic restaurant with 70 years of experience for sale!
Asking Price:
$349,900

Gross Revenue:
$501,124
Cash Flow:
$114,427
(Seller's Discretionary Earnings)

EBITDA:
 Not Disclosed
Inventory:
$3,688
included in asking price

FF&E:
$27,619
included in asking price

Real Estate:
$200,000
included in asking price

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Business Description

This iconic restaurant located in the lakes area of central Minnesota was established in the 50's and is the go to place for great food and excellent service. The business is open all day serving breakfast, lunch and dinner so they are there when the patrons are hungry.
The design of the building enables the business to accommodate small private groups or parties. This is a very busy restaurant and is fully staffed to assist the new owner with the transition.

About the Business

Location:
Minnesota
Year Established:
1955
Number of Employees:
14 PT
Real Estate:
Owned
Facilities:
This very well maintained 2400 sq ft facility seats 95. The atmosphere of the restaurant brings you back to the 50's which is very fitting for the history of the business. The business is situated on a very busy highway so they are always getting new drive by customers.
Market Outlook/
Competition:
The business is located in a small community about 10-15 miles from any major city. There is one other bar and restaurant in the community but does not seem to affect there business. The business has been around for a long time so it is the go to place in the area.
Growth & Expansion:
This business has a liquor license for both On & Off Sale which they have not promoted much. With the location being on a very busy highway, expanding the Off Sale business would enhance the overall business. There is already a pad in place to expand the building.
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About the Sale

Reason For Selling:
Retirement.
Training/Support:
Will train for 2 weeks @ $0 cost.
This restaurant is a full service family style operation so having good people skills and a general knowledge of the restaurant industry would be very beneficial. They have a liquor license to sell on and off sale liquor, which they do not promote. This would be a excellent opportunity to grow the business!

Listing Info

ID:
1544681
Ad Detail Views:
553

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months
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Business Listed by

David LaVoi

Murphy Business & Financial Corporation
License# 40424738

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Sponsoring Broker:

Patrick Steffl
Murphy Business & Financial Corporation
License# 15277

U.S. Census Data for Minnesota
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 Minnesota
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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