Profitable Ventura Blvd Restaurant

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Priced to sell
Asking Price:
$180,000

Gross Revenue:
$655,284
Cash Flow:
 Not Disclosed
EBITDA:
 Not Disclosed
Inventory:
 Not Disclosed

FF&E:
 Not Disclosed
included in asking price

Real Estate:
 Not Disclosed

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Business Description

This full service dual cuisine restaurant was established over 10 years ago. Current owner purchased it 5 years ago. Entire interior of store remodeled in 2015. Gross sales have increased nearly 4 times in 5 years. 4 ½ star Yelp average, 3k customers emails, in house delivery system with driver iPhones and direct to customer texting system.

Started an additional revenue stream in March of 2018 by adding another cuisine. It started as a virtual restaurant only but due to its success is now a co-restaurant in the same location. Both concepts have their own phone numbers, systems, Yelp pages, online website and online ordering service (cost is $83 mo, ea.), Google Maps pages and menus. Plus, individual 3rd party online ordering sites including GrubHub, Postmates and DoorDash. In total they receive orders from 13 different ways/services. Dining customers can choose to order from either or both store menus.

Menu items are made in house and prepared for customers using largely existing ingredients and existing equipment. They have found there are some days which sales are mainly one cuisine, an example was last 4th of July where 72% plus of all orders were from BBQ. The dual concepts have increased sales, added cross marketing and prevented the occasional dead days.

Store is located on Ventura Blvd, Sherman Oaks, Ca. with delivery to a rather affluent customer base of Sherman Oaks, Beverly Hills, Bel Air, Studio City, Encino, Valley Village and Van Nuys. 3 mile delivery radius.

All staff are happy and will remain with store, including owner’s son, who can perform all store duties at $15 an hour. Owner includes 1 week’s training. Store has many regular customers, including catering and there are numerous film production companies we serve nearby.

Staff is not aware of a potential sale and the owner asks not to make them aware store is on the market.

Remodel info: Raised and insulated ceiling, insulated panels at lower storefront glazing, new tables, chairs, booths, tile flooring, paint, graphics, lighting, ceiling fans, wall décor, etc. Exterior consisted of new signage. Kitchen has been updated with organizational improvements and new equipment. Most all major equipment less than 4 years old. Double conveyor pizza ovens, lower oven used for large orders and/or as back up should main oven fail.

Rent: $3,490.57 NNN, annual increases at the rate of the Consumer Price Index, which has been an average of $58 increase per month last 5 years.
Lease set to end 4-15-19, renewable for additional 5 years, could be month to month until new buyer is approved. Landlord willing to offer new lease 5 years, with 5 year option.
Cam: $924.01

About the Business

Location:
Sherman Oaks, California

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Listing Info

ID:
1619444
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Business Listed by

Michael Gratteri

BuyARestaurantBiz
License# 01899435

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