Restaurant for Sale - High Profits

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Motivated Seller - Great Price
Asking Price:
$399,000

Gross Revenue:
$1,100,000
Cash Flow:
$250,000
(Seller's Discretionary Earnings)

EBITDA:
 Not Disclosed
Inventory:
$10,000
not included in asking price

FF&E:
$100,000
included in asking price

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Business Description

Light & Raphael is pleased to offer a restaurant for sale in the Richmond area. The restaurant offers traditional American fare. The business has been family-owned and operated since it was established nearly 20 years ago. The restaurant does very little advertising. The majority of the business comes from word of mouth. The restaurant accepts reservations and is open daily. Catering is available upon request. It also offers takeout and pick-up dining options.

It is anticipated that the restaurant staff will remain with the business after closing.
SBA financing possible for a qualified buyer.

About the Business

Number of Employees:
15
Real Estate:
Leased
Building Sq. Ft.:
5,000
Lease Rate/Sq. Ft./Yr.:
$15.00
Facilities:
Location is leased
Growth & Expansion:
Restaurants are a driving force in Virginia’s economy. They provide jobs and build careers for thousands of people, and play a vital role in local communities throughout the state. There are roughly 15,000 eating and drinking establishments in the Commonwealth, accounting for 363,500 food service jobs in the state. And by 2026, that number is projected to grow by 12.2%. The estimated sales in Virginia restaurants in 2016 was $16.3 billion.
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About the Sale

Reason For Selling:
Owner wishes to retire.
Training/Support:
Seller will provide support and training following the sale.

Listing Info

ID:
1548347
Ad Detail Views:
515

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Business Listed by

Gavin Raphael

Light & Raphael

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U.S. Census Data for Virginia
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Source: Decennial Census (2010), United States Census Bureau.

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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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