MergerPlace

Steakhouse Restaurant with Real Estate

Iowa


  • Asking Price: $300,000
  • Gross Income: $508,327
  • Cash Flow: $43,981
  • Real Estate: $150,000
  • Inventory: Not Disclosed
  • FF&E: $40,000
  • Listing ID: #204018
  • Established: 1962
  • Employees: 1 FT/30 PT

Business Description

Steakhouse business and Real Estate for just $300,000. This full service restaurant is open only 25 hours per week with sales of $508,000 in 2016 with cost of good sold percentage of 53% in 2016. This well-established enterprise has been in business for over fifty years. The facility seats over 250 diners. It is well located on major highway and offers patrons plenty of parking. The business is very highly rated by customer reviews.


Business Details

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

Company Information

Year Established: 1962
Home Based: No
Franchise: No
Relocatable: No
Number of Employees: 1 FT/30 PT

Financial Information

Asking Price: $300,000
Gross Revenue: $508,327
Cash Flow: $43,981
FF&E: $40,000
Real Estate: $150,000
Seller Financing Available: No

Property Information

Facilities:

Restaurant is 5400 sq ft building with new roof in 2014 that seats 250 and includes a full service bar and several dining areas making it ideal for separate private parties at one time. It also has a large kitchen and walk-in coolers and freezers and storage rooms. Restaurant is located on a major highway and has plenty of parking.

Growth & expansion opportunities:

The successful buyer could expand with lunchtime hours or be open additional days weekly to increase sales. A successor could also market the business more actively including using low cost social media or guerilla marketing methods. The new owner could invigorate the business implementing effective entrepreneurial practices.

Competition:

This restaurant has a great reputation and has been in business since 1962. Customers are drawn from beyond 30 mile radius. There are no other direct competitors within 15 miles.

Reason for selling:

Retirement.

Support & Training:

Will train for 2 weeks @ no cost. Management, Food service, Chef, Cook, Culinary or related transferable skills or experience could be beneficial. Seller will orient and train a serious and motivated buyer. This full service establishment features a variety of steaks, seafood, ribs, chicken, pasta, salad bar and full bar.

Contact Business Seller

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Business Listed By:

Dan Tryon

Murphy Business Brokers