Incredible Soul Food Restaurant and Catering

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Asking Price:
$1,100,000

Gross Revenue:
$2,200,000
Cash Flow:
$350,000
(Seller's Discretionary Earnings)

EBITDA:
 Not Disclosed
Inventory:
 Not Disclosed

FF&E:
$259,000
included in asking price

Real Estate:
 Not Disclosed

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Business Description

Highly successful and growing Soul Food Restaurant and Catering Business, North County Coastal San Diego. Three complementary revenue streams bring about $2,200,000 Gross and $350,000 SDE in 2018. Two locations. The 2758 sqft catering facility and brew pub counter service are wrapping up 1st year of operation, now at break even and ramping well with on-going contracts. The catering facility can support up to 4000 guests, the brew pub seats 97 inside. The approx. 1800 sqft restaurant seats 67. Well established since 2012 and very popular. It’s a busy eatery with a frequent wait list.
Executive Chef and Hospitality veterans launched their concept after decades of industry experience with top establishments. They have built a strong team of 29 professionals including management and executive chef who are full-time except the servers. The food and bevies are fantastic from the ribs, pulled pork or waffles to “bloody” or craft beer. Atmosphere is rustic and upbeat. Prices are reasonable. They have a data base of over 10,000 patrons and terrific on-line reviews. In great locations and embedded in the community the business is active in charity and other events.
The coastal area is well into a massive revitalization plan with new apartment, mixed use buildings, and resorts bringing residents and tourists, many new retail and entertainment venues, and community events like a weekly farmers market and street fair.
Built for repeatability and scale, the concept and business is expansion or franchise ready for an ambitious buyer. Books and records are clean and comprehensive, including projections. Everything is documented!
Sellers are moving out of state for family reasons. Wonderful opportunity for the right buyer to take it to the next level. Offered at $1,100,000.

About the Business

Location:
San Diego County, California
Year Established:
2010
Number of Employees:
29
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About the Sale

Reason For Selling:
moving
Training/Support:
2 weeks
Seller Financing:
500000.00

Listing Info

ID:
1570252
Ad Detail Views:
29

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Business Listed by

Linnea Westlake

Transworld Business Advisors
License# 02028068

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Sponsoring Broker:

Marshall Pollock
Transworld Business Advisors
License# BRE # 01100886

U.S. Census Data for San Diego County, CA
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 San Diego County, CA
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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