Asking Price: $199,000 Gross Revenue: $285,000Cash Flow: $80,000 (Seller's Discretionary Earnings) EBITDA: Not DisclosedInventory: $2,500 included in asking priceFF&E: $80,000 included in asking priceReal Estate: $90,000 not included in asking priceShare this business:
Explanation of Financial Terms
The total asking price of the business for sale.
All income the business received before any cost-of-sales or expenses have been deducted.
Arrived at by "starting with your net (before tax) profit. Then, add back in any payments made to the owner, interest and any depreciation of assets." For example, if the net profit before taxes was $100,000 and the owner was paid $70,000 then the cash flow is $170,000.
Earnings Before Interest, Taxes, Depreciation and Amortization.
The value of the merchandise, raw materials, and finished and unfinished products which have not yet been sold. If there is no inventory price listed then the seller did not provide it.
Furniture, fixtures and equipment that will remain with the business, such as desks, office cubicles, decor elements of a restaurant or showroom, computers and office machines, pots and pans, dishes, display cases, manufacturing equipment, etc., depending on the type of business.
The value of property owned by the business. May be included in the asking price or offered separately. If no real estate value is listed, it was not provided by the seller.
Have you been dreaming of owning your own business? Profitable, fully equipped turnkey business opportunity available. Well established Erie, PA family diner is for sale. The restaurant has witnessed nearly a century of Erie history all while being a strong presence in the community. Customers seek this restaurant for their acclaimed signature dishes and use of high-quality ingredients and outstanding customer service. Restaurant remodeled 5 years ago to current trends. Extremely popular destination point and has a significant social media presence (4.8/5.0 rating on Facebook, 4.7/5.0 on Google, 4.5/5.0 on Yelp and 5.0/5.0 Trip Advisor). This opportunity is perfect for a new owner to step in to a turnkey operation at this 1000 square foot facility, long term lease in place (income producing building is available for purchase). Capacity for 40 with booths and counter seating. Well trained staff, 2 FT and 4 PT, can run entire operation, manager in place. Current owners have owned the business for over 50 years and are retiring. Business operations are five (5) days per week and closed two (2) weeks every year for vacation. Owner financing for approved buyers. All offers will be considered.
About the Business
Number of Employees:
Building Sq. Ft.:
1000 sq. ft. rented space with all equipment and inventory included in sale. Income producing building is available for sale as well.
The area is transitioning and a $7.5M development project recently announced 4 blocks away. The business has been an Erie tradition since 1927. Competition is not very high in the area.
Growth & Expansion:
Currently open Tuesday-Saturday 9:30am-7:00pm (47.5 hrs./week). Growth opportunities for new owner are in menu expansion, catering, hours of operation expansion, delivery and e-commerce. The business is turnkey with a significant social media presence that has room for growth (4.8/5.0 rating on Facebook, 4.7/5.0 on Google, 4.5/5.0 on Yelp and 5.0/5.0 Trip Advisor).
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
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