Steakhouse Restaurant with Real Estate

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Profitable Steak House restaurant open only 25 hours per week
Asking Price:
$300,000

Gross Revenue:
$508,327
Cash Flow:
$43,981
(Seller's Discretionary Earnings)

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

FF&E:
$40,000
included in asking price

Real Estate:
$150,000
included in asking price

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Business Description

Steakhouse business and Real Estate for just $300,000. This full service restaurant is open only 25 hours per week with sales of $508,000 in 2016 with cost of good sold percentage of 53% in 2016. This well-established enterprise has been in business for over fifty years. The facility seats over 250 diners. It is well located on major highway and offers patrons plenty of parking. The business is very highly rated by customer reviews.

About the Business

Year Established:
1962
Number of Employees:
1 FT/30 PT
Real Estate:
Owned
Building Sq. Ft.:
5,450
Facilities:
Restaurant is 5400 sq ft building with new roof in 2014 that seats 250 and includes a full service bar and several dining areas making it ideal for separate private parties at one time. It also has a large kitchen and walk-in coolers and freezers and storage rooms. Restaurant is located on a major highway and has plenty of parking.
Market Outlook/
Competition:
This restaurant has a great reputation and has been in business since 1962. Customers are drawn from beyond 30 mile radius. There are no other direct competitors within 15 miles.
Growth & Expansion:
The successful buyer could expand with lunchtime hours or be open additional days weekly to increase sales. A successor could also market the business more actively including using low cost social media or guerilla marketing methods. The new owner could invigorate the business implementing effective entrepreneurial practices.
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About the Sale

Reason For Selling:
Retirement.
Training/Support:
Will train for 2 weeks @ no cost.
Management, Food service, Chef, Cook, Culinary or related transferable skills or experience could be beneficial. Seller will orient and train a serious and motivated buyer. This full service establishment features a variety of steaks, seafood, ribs, chicken, pasta, salad bar and full bar.

Listing Info

ID:
1454284
Ad Detail Views:
137

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Business Listed by

Dan Tryon

Murphy Business & Financial Corporation

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Sponsoring Broker:

Michael Rooney
Murphy Business & Financial Corporation

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

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U.S. Community Survey Data for Iowa
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Education

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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