Turnkey Colorado Tap House and Restaurant

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Asking Price:
$335,000

Gross Revenue:
$500,000
Cash Flow:
 Not Disclosed
EBITDA:
 Not Disclosed
Inventory:
$25,000
included in asking price

FF&E:
$650,000
included in asking price

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Business Description

This 2-year-old turnkey tap house/restaurant is located in the fast growing north-end area of Colorado Springs. Unfortunately, the owner had no restaurant experience at the time he started the business and has since decided that running a tap house does not fit his skill set. He recently decided to sell.

*** The business sale price of $335K includes $650K in nearly new assets and recent buildout plus $25K of inventory ***

The tap house was rebranded as a gastropub in 2018 serving high quality craft beers and food. Today this popular business operates with 10 employees and offers 100 craft beer taps served to sophisticated clients. They also serve craft liquor, international beers, wine and craft cider. While the current owner endured a financial loss early on due to the cost of two startup initiatives, 2019 is now profitable. Everything is in place for a new owner to reap the financial awards of this beautifully redesigned tap house.

About the Business

Location:
Colorado Springs, Colorado
Year Established:
2017
Number of Employees:
10
Real Estate:
Leased
Building Sq. Ft.:
2,400
Rent:
$5,330.00 Per Month
Lease Expiration:
1/1/2023
Facilities:
This gastropub is situated in a 2400 square foot unit with a patio in a 4-unit shopping plaza in a new/growing area of Colorado Springs. The restaurant seats 89 indoors and 25 more on the patio.
Market Outlook/
Competition:
There is one competitor in the area offering hotdogs and hamburgers and has a full bar with 30 taps. It is fast food so they do not have waitresses. Another nearby bar caters to a younger party crowd and serves inexpensive beer like Budweiser and Coors. Most families prefer the gastropub’s atmosphere, service, and superior food. There aren’t any other bars or nightclubs close by.
Growth & Expansion:
The market trend for craft beer is solid in Colorado Springs. Despite a rough start and two grand openings, this tap house has now gained a steady loyal following. The restaurant has room to host larger group meetings and parties, as well as more carry-out and catering in the area. Although the beer supply turns over quickly, the new owner could substitute a number of taps from the center of the wall for lighted shelves to feature new liquor offerings. There are seven flat screen TVs that were originally used for the beer menu that could be converted to create a sports environment. The restaurant has potential room for future growth by expanding into the 1900 sq ft bay next door. This would allow room to expand the kitchen and offer private meeting space for corporate customers and private parties. The patio could be enhanced to further accommodate outdoor customers who like to bring dogs.
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About the Sale

Reason For Selling:
Owners not well suited for tap house business
Training/Support:
30 days free

Listing Info

ID:
1633764
Ad Detail Views:
0

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Business Listed by

Steve Coast

Crestone Business Group
License# 100031377

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