SBA Pre-Approved Well Established Restaurant and Bar

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Asking Price:
$255,000

Gross Revenue:
$852,000
Cash Flow:
$76,000
(Seller's Discretionary Earnings)

EBITDA:
 Not Disclosed
Inventory:
$20,000
not included in asking price

FF&E:
$110,000
included in asking price

Real Estate:
$325,000
not included in asking price

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Business Description

This business has been Pre-Approved for an SBA 7A Term Loan for a qualified buyer.

This well known restaurant and bar has been around since 1945. This restaurant is about a 40 minute drive from Fort Wayne. The business has numerous income streams. The business has a dining room, bar, banquet room, and an outdoor patio. The restaurant also does catering to local businesses and events. This business is the largest independently owned restaurant and bar in their market segment. Sales have been up you after year and are on track this year to be higher than last year. There are numerous ways a new owner could grow this business. The current owner is ready for retirement.

About the Business

Location:
Fort Wayne, Indiana
Year Established:
1945
Number of Employees:
20 FT 8PT
Real Estate:
Owned
Facilities:
The building has been well maintained by the current owner. The business currently occupies three building along a state highway. The full service bar seats 53 customers. The banquet room seats 30 customers. The family room seats 64 customers. There is also a small patio area that seats about 20 customers. There is a full service kitchen that has a mix of new and old equipment. There is also an apartment located above one of the buildings that currently rents for $650 per month.
Market Outlook/
Competition:
Largest independently owned operator in the market. There is competition in the market but most of the competition comes from large fast food operators.
Growth & Expansion:
A new owner could expand into breakfast full time since there is a lack of competition in the current market. Another area to grow the business would be to open on Sunday. This business is currently closed on Sunday. A new operator could open on Sunday for breakfast or brunch. Sunday could also be leveraged for sports for the bar side of business. A new owner could also expand carry-out liquor sales by utilizing the business's current 3-way liquor license.
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About the Sale

Reason For Selling:
Retirement
Training/Support:
The owner will work with the new owner to fully transition the business. This is included in the purchase price. PLEASE BE ADVISED: PRIOR TO THE RELEASE OF ANY CONFIDENTIAL INFORMATION, THE SELLER REQUIRES ALL BUYERS TO DISCLOSE THEIR FINANCIAL QUALIFICATIONS THROUGH COMPLETION OF A CONFIDENTIAL BUYER QUESTIONNAIRE ALONG WITH A NON-DISCLOSURE AGREEMENT. SELLER’S APPROVAL OF SAME IS REQUIRED BEFORE CONFIDENTIAL INFORMATION IS RELEASED. PLEASE CONTACT OUR OFFICE FOR THE FORMS AT 800-636-7046
Seller Financing:
Negotiable

Listing Info

ID:
1418352
Ad Detail Views:
380

Attached Files Attachment Disclaimer

  Term Sheet (3 MB)
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Business Listed by

Dan Replogle, CBI, CBC, CCIM, M&AMI

Midwest Business Brokers Inc.

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