MergerPlace

Turn-Key and Profitable Restaurant

Michigan (Kent)


  • Asking Price: $495,000
  • Gross Income: $1,132,400
  • Cash Flow: $179,600
  • Real Estate: Not Disclosed
  • Inventory: Not Disclosed
  • FF&E: Not Disclosed
  • Listing ID: #211014
  • Established: 2002
  • Employees: 25

Business Description

This is a tremendous opportunity for a chef or manager to fulfill his/her dream of owning a restaurant. It offers the best of both worlds: Create the place you always wanted and step in to a highly profitable business and start making money right away. The hardest part of opening a new business is the time it takes to build a customer base to support the business. Why not skip that? The customers are already there waiting (names, addresses and emails included), and they are loyal and have money. There’s an excellent staff in place, the neighborhood is great, the lease is great and there’s parking. Here’s your chance to do it the way you want and earn more than you ever could working for someone else. And did we mention it can be tax free? That’s right, the current owner pays no federal income tax (yes, it’s legal).
The profitable, sit-down restaurant is located a few minutes from downtown Grand Rapids, MI. The Restaurant offers simple, rustic cuisine with a gourmet flair. In addition to the main dining space, the Restaurant also features a carry-out only store front that serves pizza and lunch items. The Restaurant has received multiple upscale dining awards and has high online ratings. The Company holds a full liquor license and a Specially Designated Merchant license.
The current owner is seeking to sell the business in order to focus on his other business. This is a great opportunity for a new owner to continue to grow this profitable business.
Thank you for reading this overview. The extent of the information that we are publicly permitted to reveal about this opportunity is contained in this overview. Please submit your contact information in the provided form. We have automated the processing of NDAs and sending of information for speed and efficiency.
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Business Details

Primary Business Category: Restaurants, Bars & Other Food Services
Location: Michigan
County: Kent

Company Information

Year Established: 2002
Home Based: No
Franchise: No
Relocatable: No
Number of Employees: 25

Financial Information

Asking Price: $495,000
Gross Revenue: $1,132,400
Cash Flow: $179,600
EBITDA: $107,000
Seller Financing Available: Yes

Property Information

Facilities:

The Restaurant operates out of a 3,800 sq. ft. facility that is on lease with excellent renewal options.

Growth & expansion opportunities:

(1) Expansion of Carry-Out Products: The Restaurant features a carry-out only storefront which serves pizza and lunch items. Expanding on this product line is an excellent opportunity for growth. (2) Extended Weekend/Holiday Hours: The Restaurant is currently not open for lunch Saturdays or at all Sundays. It also stays closed on or around major holidays. These extra periods could significantly increase the Restaurant’s profits. (3) Expand Catering Services: While the Restaurant already offers catering services, these services only comprise a small percentage of overall sales. Pursuing more catering clientele is another way the Restaurant could increase profits. (4) Organic Growth: The area where the Restaurant is located is fast-growing and will likely lead to additional customers naturally.

Competition:

(1) Excellent Building and Location: This has been a successful restaurant space for over 25 years. The space is in an affluent neighborhood only a few minutes from downtown Grand Rapids, MI. (2) Loyal Customer Base: The Restaurant has already built up a strong customer base which generates personal referrals. The Restaurant’s loyalty program incentivizes return customers. (3) Online Ratings and Reviews: The Restaurant receives high ratings online for its high-quality service and delicious food made with the freshest ingredients. (4) Excellent Staff: The Company maintains a high quality staff that is mostly long-term employees who are highly trained and experienced.

Reason for selling:

The owner is seeking to focus on other business interests.

Support & Training:

Ownership is willing to provide reasonable and customary transition assistance.

Contact Business Seller

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Business Listed By:

Max Friar

Calder Capital, LLC