Spokane's Shogun Restaurant

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Hibachi style
Asking Price:
$600,000

Gross Revenue:
$1,200,000
Cash Flow:
$794,200
EBITDA:
$221,971
Inventory:
$20,000
not included in asking price

FF&E:
$1,600,000
included in asking price

Real Estate:
$1,600,000
not included in asking price

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Business Description

The iconic Shogun Restaurant known for its flashy presentations by its Hibachi Chefs of a wide variety of dishes specializing in steak, sushi and cocktails. It has continuously operated at the site since its inception in 1992. Repeatedly written up for its flair and ambiance in addition to its excellent menu, it has become the special event go to place for anniversaries, graduations, and celebration parties. With several grills usually going, with chef spatulas whirling, lights flashing, and fireballs of cooking spirits lighting up the guests, it creates a festive and holiday type atmosphere even during week nights. The evening shows always entertain the newbies as well as the regulars. To the side is a quieter sushi bar with the sushi chef creating masterpieces of animals and designs made from vegetables and cooked, smoked, or sashimi on rolls of sticky rice.

About the Business

Year Established:
1992
Number of Employees:
20
Real Estate:
Owned
Building Sq. Ft.:
11,727
Facilities:
The restaurant is situated on three land parcels totaling 18,058 sf, one to the north of the restaurant building, one to the east of the building, and the restaurant parcel. The business sale will allow an assumption of operations. Business and Real Estate will include all of the existing equipment and land (see Flyer). The building improvements including HVAC, roof, and exterior remodeling. Approximately 30 surface parking slots are available adjacent to the building and on the lot to the north of the building in addition to street parking.
Website:
www.shogunspokane.com/
Market Outlook/
Competition:
Located eight blocks to the east of Division St and downtown Spokane, the area is going through a revitalization due to the build up of the University District and the new medical school just to the northwest of the parcels. Squeezed between the University and Perry St Districts, it's uniquely located for an expanding demographic of students and a sought after neighborhood.
Growth & Expansion:
The limited service restaurant is under-utilized. The premises contain full liquor lounge, stage/dance ballroom floor, and sushi bar but no lunch service or special event service (happy hour) in either. No marketing is underway for its meeting and banquet rooms, ballroom, nor its regular seating areas.
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About the Sale

Reason For Selling:
Owner needs to retire to assist family.
Training/Support:
The restaurant has a full cadre of chefs, cooks, and service staff. The current owner is hands off except for payroll, building maintenance, and managing funds. Books, accounts and operations training available for first 45 days after completion of due diligence.
Seller Financing:
Business Lease, Lease to own, Lease Option- Qualified Buyer, Experienced chef

Listing Info

ID:
1369045
Ad Detail Views:
122

Attached Files Attachment Disclaimer

  Restaurant Review - Shogun (10 MB)
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  Flyer (517 KB)
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Business Listed by
Tom Watson

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