MergerPlace

Family Restaurant/Diner

Pennsylvania


  • Asking Price: $199,900
  • Gross Income: $795,000
  • Cash Flow: $98,300
  • Real Estate: Not Disclosed
  • Inventory: $20,000
  • FF&E: $84,413
  • Listing ID: #218410
  • Established: 1992
  • Employees: 1FT/25PT

Business Description

This family restaurant is located within close proximity of Gettysburg, PA which is an area known for tourism. It was originally established in 1992 (27 years ago). The current owner operators have been successfully running the restaurant since 1999 (20 years ago). The restaurant has an excellent reputation backed up by more than 350 reviews that average out to 4.2 stars. They are known for great homestyle cooked meals, reasonable prices and a comfortable atmosphere to dine. In addition to the business generated by the tourists in the area, the restaurant enjoys loyal support from many repeat and regular daily customers in the local community. Bridal showers, baby showers, holiday parties, business meetings and local clubs meet in the banquet room which seats 80 people comfortably. Another popular use of the banquet room that can be opened up to the main dining room is on Tuesday and Thursday evenings, a country music band provides entertainment and this draws in many customers for dinner on those nights. In addition to the banquet room, the restaurant has a main dining area that has ample seating and in the front of the restaurant there are tables and counter seating. Regular daily customers have the choice of coming for breakfast, lunch or dinner. Breakfast is extremely popular; hence it is available any time of the day.


Business Details

Primary Business Category: Restaurants, Bars & Other Food Services
Location: Pennsylvania

Company Information

Year Established: 1992
Home Based: No
Franchise: No
Relocatable: No
Number of Employees: 1FT/25PT

Financial Information

Asking Price: $199,900
Gross Revenue: $795,000
Cash Flow: $98,300
FF&E: $84,413
Inventory: $20,000
Seller Financing Available: Yes

Property Information

Facilities:

This family restaurant is located near Gettysburg, PA in a strip center on a very high traffic count road (Rt. 30 Interstate Highway). Behind the restaurant is the local high school, middle school, intermediate school and elementary school. It contains 4,260 square feet of space and has capacity to seat 225 guests as well as an additional 80 guests in the banquet room bringing the total capacity to 305 guests. The facility also contains a fully equipped commercial kitchen. Rent is very reasonable at $3,550 per month and the current owners are on a month to month lease arrangement. In addition, the CAM (Common Area Maintenance) fees are $333/month. The facility contains 10 security cameras (expandable to 16) and they have mobile accessibility. Being that the restaurant is located in a strip center, there is sufficient and convenient parking. Inside the restaurant there are two handicapped accessible restrooms. Some other businesses located in the strip center are a laundromat, eye doctor, physical therapy office, H & R Block, Dollar Tree, Family Dollar, appliance repair center, beer distributor and a Subway.

Growth & expansion opportunities:

Although this restaurant has been successful over the years, there is a great deal of room for growth. Below is a list of some potential strategies/actions to implement to facilitate growth: Successful Strategies – The following items listed below are some strategies or potential action items that would enhance the potential to grow the business: 1. Develop a website and drive existing and new customers to accessing it. 2. Establish a social media plan and keep it updated to promote the business. 3. Use the website and social media to promote the use of the banquet room for special events, meetings, etc. 4. Pursue getting involved with the activities of the four schools located behind the restaurant. An example would be providing food for the athletic teams. 5. Participating in various types of general advertising. 6. Consider increasing the hours of operation

Competition:

Competition in the area of other restaurants offering similar style food is very limited.

Reason for selling:

Retirement.

Support & Training:

Will train for 6 weeks @ no cost. One unique service provided by this restaurant is offering their customers the convenience of purchasing lottery tickets which is profitable for the owners. It is quite the lucky establishment to purchase a ticket from also because they have had two $1,000,000 winners that bought their tickets at the restaurant. Below are licenses required to run the restaurant: 1. Restaurant License (State of Pennsylvania) 2. One person must be Serv-safe certified when the restaurant is open for business (can be obtained online). 3. Lottery License (Transferable) Restaurant Specialty: Broasted Chicken--Unique and creative specials offered daily--Homestyle cooking and Pennsylvania Dutch offerings.

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Business Listed By:

Jack Greenawalt

Murphy Business Brokers