MergerPlace

Successful Spanish Food Restaurant

Florida (Miami-Dade)


  • Asking Price: $840,000
  • Gross Income: $1,775,247
  • Cash Flow: $307,692
  • Real Estate: Not Disclosed
  • Inventory: $30,000
  • FF&E: $50,000
  • Listing ID: #226432
  • Established: 2005
  • Employees: 14 FT/1 PT

Business Description

Very successful and well known Spanish restaurant established in 2013. They serve classic tapas, covering a sample of the entire Spanish geography. A wide selection of paellas, meat and fish, which are cooked at the moment. There is a big commitment to gastronomic quality and art, positioning the restaurant as a benchmark in authentic Spanish food and flamenco rumba. Loyal staff which is well paid and trained. Efficient operation that does not depend on owner. During the Covid-19 the restaurant has managed to do very well and since September the numbers have come back strong. First quarter of 2021 better than 2019. Excellent reviews in social media.


Business Details

Primary Business Category: Restaurants, Bars & Other Food Services
Location: Florida
County: Miami-Dade

Company Information

Year Established: 2005
Home Based: No
Franchise: No
Relocatable: No
Number of Employees: 14 FT/1 PT

Financial Information

Asking Price: $840,000
Gross Revenue: $1,775,247
Cash Flow: $307,692
FF&E: $50,000
Inventory: $30,000
Seller Financing Available: No

Property Information

Facilities:

There is been is this location a Spanish restaurant at least since 2005. Current rent is $7,459. Inside space is 1,800 sq ft and outdoor space is 1,000 sq ft. The kitchen was recently remodeled, a new grease trap installed and the complete A/C system was upgraded. Lease expires in October, 2023 and there is one 5 year option to renew. Permit for 74 seats, however the permit can be increased for additional seats.

Growth & expansion opportunities:

The additional outdoor space gives the opportunity to increase the revenues of the restaurant. Also a new owner could get a 4COP license which could be an important source of additional revenues.

Competition:

This restaurant is a benchmark in Spanish food and the Flamenco shows. It is hard to find a restaurant of this type in the area.

Reason for selling:

Change of activity after so many years.

Support & Training:

Will train for 2 weeks @ $0 cost. General restaurant management a plus to run this operation. Licenses: certificate of use, Miami-Dade local business tax, State of Florida Hotels and Restaurants, State of Florida Alcoholic Beverages and Tobacco.

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Business Listed By:

Andy Fischer

Murphy Business Brokers