Business Summary:
This 100% absentee owned business is offering anyone the opportunity to step into a new entrepreneurial venture as it is currently priced to sell with a very low multiple of 3.05 due to the owner’s need to relocate closer to family! Having been established since 2012, this local bar and grill has been a fan favorite for its diverse repeat client whose out-spoken voices have helped tailor the menu to the local favorites. Not only is it priced for accessibility, the business has an excellent staff and chain of command established, a well-renowned local reputation, and a well-traveled and safe space in the community that is large enough to cater to each of its loyal patrons! The 22 person staff consists of 3 full-time managers with the remaining 19 part-time associates controlling the day-to-day restaurant operations. Currently this business opens their doors to the public at 3PM allowing the happy hour crowd a place to unwind but the owner has noted that there is an opportunity for growth if the new owner extends these hours earlier in the day to allow for a lunch rush.Priced at $955,000, a 10% down payment of $95,500 returns $185,239 in the first year after debt payments! This lowered price offers new ownership the opportunity for a 193% return on investment in the first year! Excellent and expansive marketing in recent years has led to great success as most weekends are standing room only in their space of over 3,800 sq. ft. Fear not, this business comes with over $130,000 in assets so that the buyer can continue to handle this high volume of customers. This business has an excellent local reputation and is well known in the area as the place to go for specific pallet cravings.
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