Up North Ultimate Favorite Restaurant Destination

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Asking Price:
$390,000

Gross Revenue:
$864,720
Cash Flow:
$122,262
(Seller's Discretionary Earnings)

EBITDA:
 Not Disclosed
Inventory:
$12,000
not included in asking price

FF&E:
$125,140
included in asking price

Real Estate:
$350,000
not included in asking price

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Business Description

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

Location:
Michigan
Year Established:
1998
Number of Employees:
15
Real Estate:
Owned
Facilities:
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.
Market Outlook/
Competition:
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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About the Sale

Reason For Selling:
Retirement

Listing Info

ID:
1611945
Ad Detail Views:
0

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Business Listed by

Tanya Popov

INIX Business Brokers

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