Asking Price: $390,000 Gross Revenue: $864,720Cash Flow: $122,262 (Seller's Discretionary Earnings) EBITDA: Not DisclosedInventory: $12,000 not included in asking priceFF&E: $125,140 included in asking priceReal Estate: $350,000 not included in asking priceShare this business:
Explanation of Financial Terms
The total asking price of the business for sale.
All income the business received before any cost-of-sales or expenses have been deducted.
Arrived at by "starting with your net (before tax) profit. Then, add back in any payments made to the owner, interest and any depreciation of assets." For example, if the net profit before taxes was $100,000 and the owner was paid $70,000 then the cash flow is $170,000.
Earnings Before Interest, Taxes, Depreciation and Amortization.
The value of the merchandise, raw materials, and finished and unfinished products which have not yet been sold. If there is no inventory price listed then the seller did not provide it.
Furniture, fixtures and equipment that will remain with the business, such as desks, office cubicles, decor elements of a restaurant or showroom, computers and office machines, pots and pans, dishes, display cases, manufacturing equipment, etc., depending on the type of business.
The value of property owned by the business. May be included in the asking price or offered separately. If no real estate value is listed, it was not provided by the seller.
We are pleased to introduce a long established local favorite destination restaurant located in a beautiful part of Northern Michigan. Open since 1998, the business has been proudly providing exceptional service with innovative menu choices in a very welcoming and casual atmosphere. Enjoy a full menu of choices from delicious burgers, crisp salad entres, juicy steaks and fish to a full-service bar. Known best for their homemade pizza and dessert, patrons enjoy a delightful meal prepared with fresh flavorful ingredients. In addition to walk-in patrons, this restaurant has a number of commercial accounts providing consistent catering income. This restaurants catering is also known for exquisite presentation and variety. The dedicated warm and friendly staff currently consists of 5 full time and 10 part time employees with both owners currently working around 20-25 hrs per week. With consistent multiple rave reviews, this restaurant is clearly the go to place for families, couples and large groups. This is a turn-key operation and is ideal for a family business or partnership with great work ethics and a passion for food. More information is available with signed Non-Disclosure. All buyers must show financial capability.
About the Business
Number of Employees:
Located on a busy street with great traffic exposure and ample parking. The restaurant seats 75 with an outdoor patio included which is great for large group accommodations or a more secluded dinner for two. The owners have recently completed a few renovations including a brand new HVAC system. The building is available for sale at $350,000 subject to bank appraisal. The owners are also open to rent at $2,500 per month.
The business is located in the heart of Michigan’s popular “Up North” region. With only a couple of restaurants in town, this establishment enjoys consistent traffic from local patrons as well as a beloved tourist destination.
Growth & Expansion:
Currently the restaurant is only open for lunch & dinner but could be perfect for breakfast as well. This is the only restaurant in town with full liquor license, so there are plenty of opportunities for hosting special events, wine tastings, and entertainment. The current owner would be happy to share numerous growth opportunity and expansion ideas.
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the seller or a business broker representing the seller. BizQuest has no interest
or stake in the sale of this business and has not verified any of the information
and assumes no responsibility for its accuracy, veracity, or completeness. See our
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