Landmark Restaurant - Turnkey

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Turnkey Profitable Restaurant
Asking Price:
$199,000

Gross Revenue:
$285,000
Cash Flow:
$80,000
(Seller's Discretionary Earnings)

EBITDA:
 Not Disclosed
Inventory:
$2,500
included in asking price

FF&E:
$80,000
included in asking price

Real Estate:
$90,000
not included in asking price

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Business Description

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

Location:
Erie, Pennsylvania
Year Established:
1927
Number of Employees:
6
Real Estate:
Owned
Building Sq. Ft.:
1,000
Facilities:
1000 sq. ft. rented space with all equipment and inventory included in sale. Income producing building is available for sale as well.
Market Outlook/
Competition:
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).
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About the Sale

Reason For Selling:
Retiring after 50 years!
Training/Support:
Easy transition to new owner with negotiable training period.
Seller Financing:
Seller financing for approved buyer

Listing Info

ID:
1461854
Ad Detail Views:
0

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Business Listed by
Constantine Paliouras

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