MergerPlace

Profitable, Well-Established Restaurant

Minnesota


  • Asking Price: $380,000
  • Gross Income: $254,181
  • Cash Flow: $114,352
  • Real Estate: $183,000
  • Inventory: $13,000
  • FF&E: $48,500
  • Listing ID: #204146
  • Established: 2007
  • Employees: 7 PT

Business Description

Turn-Key, profitable, local favorite restaurant/building for sale. Quaint and well maintained, this restaurant is a local favorite for getting a good breakfast or enjoying lunch with friends. With a clean and welcoming atmosphere, this restaurant is a local hang out for teenagers and adults alike to stop in and get a caffeinated beverage and work or talk with friends. This opportunity includes significant sales growth potential as it currently limits its operating hours to accommodate the owner's desired family commitments outside of work. Ready for the next owner to add operating hours or products, or keep the operations as is and enjoy an owner-family friendly business model. This restaurant is a great opportunity for someone that wants to take it to the next level or continue an operation that has been consistently profitable for years. The owner currently runs the operations of this business with the help of 7 part-time employees.


Business Details

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

Company Information

Year Established: 2007
Home Based: No
Franchise: No
Relocatable: No
Number of Employees: 7 PT

Financial Information

Asking Price: $380,000
Gross Revenue: $254,181
Cash Flow: $114,352
FF&E: $48,500
Inventory: $13,000
Real Estate: $183,000
Seller Financing Available: No

Property Information

Facilities:

The building was built in 2004 and has about 2,500 square feet of usable space. Dining room consists of tables and chairs that can accommodate approximately 50 people. The dining room has lots of charm and character, adorned with antiques and various gifts that are for sale. The kitchen is approximately 1,000 square feet and has ample work room and space to make working in the kitchen comfortable and efficient. There is approximately 400 square feet of utility space which has the restrooms and storage areas neatly laid out. For capitalizing on warm weather sales, there is seating outside for approximately 18. Between the private parking lot and on street parking, there is ample parking for customers to quickly and easily access the restaurant.

Growth & expansion opportunities:

This restaurant has quite a bit of opportunity to grow. Currently the operational hours are limited. A new owner could double the number of hours the restaurant is open and still maintain normal operating hours for a restaurant. Additionally, the local economic development authority is active and looking for opportunities to invest in local businesses. Funds from the EDA could be use to update offerings, increase hours, or do renovations to the building. Catering opportunities are plentiful and by bringing on more staff those opportunities could be capitalized upon.

Competition:

The restaurant business is very competitive, but this business stands out due to its excellent location on a busy highway and friendly atmosphere. Related to geographically close competition, this business differentiates itself by offering different operating hours, menus and ambiance than its competitors. People that are in the area for a short period of time seek out this restaurant for its unique menu and charm. Locals keep coming back due to the excellent food and customer service. Local events throughout the year bring in many visitors to this historic community and the restaurant is well situated so those visitors can find them and enjoy the food and atmosphere.

Reason for selling:

Owners are executing their long-term exit strategy.

Support & Training:

Will train for 2 weeks @ no cost The restaurant is currently open for breakfast and lunch hours. Breakfast food consists of traditional American style offerings and is served all day. Lunch offerings are also traditional, with soups, wraps and salads on the menu. Beverage offerings include a full coffee house assortment. Additionally, there is a dessert and pastry menu including pies, cookies and rolls. The business also has light catering services which serve many of the local area businesses for lunches/meetings, school functions and sports teams. Sales roughly break down as 40% of sales from breakfast food, 40% of sales from lunch food, 10% from coffee/beverage sales and 5% from catering. In order to operate this business successfully the new owner will have to acquire a food manager certificate, serve safe certificate and MN Dept of Health license at a total cost of under $1,000 per year. In addition, the new owner should be prepared to take over the operations of cooking and serving food/beverages, or find a manager to perform those tasks.

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Business Listed By:

Scott Krook

Murphy Business Brokers