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Busy Neighborhood Restaurant, Liquor, Parking
Location: United States -> Colorado
Industry: Food and Beverage > Restaurants and Fast Food (Non-Franchise)




Business Summary

Location: Between Downtown Denver and Cherry Creek in a high density historic neighborhood with its own parking
The seller was just lowered the sales price another $50K to $345K from $390K which was lowered from $490K with inventory now included which will be approximately 8,500. This is now priced at only 2 times his earnings which is very low for a restaurant that has been consistently profitable for a long time. This is priced this low because of his health and desire to visit Greece this fall and needing to sell in time to make the trip. Recurring revenue always deserves a premium and this company has a lot of recurring business. This is an asset sale with a debt free transfer for the buyer.

The 2016 revenues were 911,249 with normally adjusted earnings of 164,036. This is now priced at only 2 times his earnings which is very low for a restaurant with that much equipment and long term profitability.

You also get approximately 50K in Assets Debt Free! This is mostly large pieces of equipment at its current value. The total assets also include fixtures and equipment. The food inventory will be included now.

This is almost a turnkey operation because the owner has figured out what works and what doesn't over 31 years. He believes the new owner should keep several popular dishes, add a full bar, and make it their own concept. By adding liquor, it should improve profitability especially for weekend Brunch and Dinner.

Many long-standing loyal customers which has resulted in a high percentage of recurring business, plus they add hundreds of new customers every year!

This is a ''Fun'' business to own and has loyal and long term employees and customers. He has had a recent serious health issue, is retirement age, and has to sell because of his health.

Seller's Quote: ''A new owner can increase sales and profits by adding liquor which our license allows already. The neighborhood gives us recurring customers for breakfast, lunch,


Financials

Asking Price Range:  $250K - $500K
Gross Revenues:   $911,000
Cash Flow:   $164,000
Cash Flow Type:  EBITDA
Seller Financing:  Yes

About The Business

Year Established:  1987
Number of Employees:  10 - 19
Relocatable:  No
Franchise:  No
Current Real Estate:  Leased
Property:  Property For Lease

About The Sale

Management Training and Support:  The seller will stay for as long as needed, potentially 3 months
Reason For Selling:  Health concerns and is of retiring age




Print Listing Id: 700282044
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Related Searches: Catering Services  >  Food Production and Packaging  >  Grocery and Supermarkets  >  Liquor Stores  >  Restaurants and Fast Food (Non-Franchise)  >  Vending Machines  >  Other Food and Beverage  > 

Also See: Franchise Opportunities > Franchise Resales > Colorado Businesses For Sale > Colorado Franchises For Sale > Colorado Business Brokers



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