Well Known & Popular Restaurant

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Asking Price:
$425,000

Gross Revenue:
$925,000
Cash Flow:
$142,500
(Seller's Discretionary Earnings)

EBITDA:
 Not Disclosed
Inventory:
$15,000
not included in asking price

FF&E:
$50,000
included in asking price

Real Estate:
$275,000
included in asking price

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Business Description

This very well-known restaurant in the Greater Portland area is extremely popular for breakfast and has growing lunch and dinner services. It is a “turn-key” business that delivers stable revenues and profits, and is ready for purchase by either an owner / operator or an investor, with non-owner management currently in place. The restaurant’s clientele, history, and quality of service provide steady year-round business, while its location allows it to take full advantage of seasonal visitors and tourists. It seats 55, features several new updates and equipment purchases, and has plenty of convenient parking.

About the Business

Location:
Cumberland County, Maine
Year Established:
1955
Number of Employees:
20 FT / 5 PT
Real Estate:
Owned
Building Sq. Ft.:
2,000
Facilities:
The restaurant’s real property is for sale and is included in the offering price. The business is located off of one of Southern Maine’s most highly trafficked roads in an area which draws large numbers of tourists and shoppers, while also close to Maine’s largest city. The building has approximately 1,600 square feet of dining area, a 400 square foot kitchen and another 500 square feet of basement space used for an office, a walk-in cooler and inventory storage, as well as a separate prep area.
Market Outlook/
Competition:
The restaurant is a clear leader in its market with the popularity of its breakfast service and breakfast menu items. This popularity and its significant history provide a stable and dependable level of business year-round. The business has a number of competitors since the local market can support a significant number of restaurants, but those competitors’ success is more subject to the seasonal surges in tourists. As nearby Portland has shown, the market demand for restaurants is deep and its growth continues unabated.
Growth & Expansion:
New owners would benefit from continuing efforts to increase revenue generated from dinner service. The restaurant has all of the equipment necessary and has received good feedback from customers on its dinner service. Expanding dinner service would increase the business’s operating capacity, which the owners estimate is at 65%. One opportunity to increase awareness of the restaurant as a whole, and the dinner service in particular, would be to develop a more robust marketing plan that include the development of a social media presence and strategy.
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About the Sale

Reason For Selling:
Seller desires to spend more time pursuing other opportunities.
Training/Support:
The seller will provide transitional training to a new owner.
Seller Financing:
Anticipated Seller $25K. Bank TBD. Down Payment TBD. Working Capital Needed $25K

Listing Info

ID:
1602783
Ad Detail Views:
0

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Business Listed by

Josh Saunders

Maine Business Brokers

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Sponsoring Broker:

Brian Hanson
Maine Business Brokers


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