MergerPlace

LENDER PRE-QUALIFIED

Minnesota


  • Asking Price: $1,900,000
  • Gross Income: $1,915,009
  • Cash Flow: $285,130
  • Real Estate: $1,300,000
  • Inventory: $29,440
  • FF&E: $400,000
  • Listing ID: #221916
  • Established: 1970
  • Employees: 4 FT / 60 PT

Business Description

LENDER PRE-QUALIFIED, MULTIPLE REVENUE-STREAM HOSPITALITY OPPORTUNITY! Profitable full-service restaurant and bar (on-sale only) with attached 33-room motel. 80% of total sales are from the restaurant and the real estate is included in the sale. The restaurant benefits from limited competition in a rural region and has produced consistent year over year sales growth through 2019. The menu offerings and quality of service make this restaurant a 'destination' for diners in the region. The motel has been around for decades and the restaurant was re-built and is up-to-date and modern with quality finishes. The motel occupancy is dependent and cycles with the level of construction occurring in the region (oftentimes there is a waiting list, which is the case currently). This is a multiple revenue stream opportunity to own and operate two hospitality businesses under one roof.


Business Details

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

Company Information

Year Established: 1970
Home Based: No
Franchise: No
Relocatable: No
Number of Employees: 4 FT / 60 PT

Financial Information

Asking Price: $1,900,000
Gross Revenue: $1,915,009
Cash Flow: $285,130
FF&E: $400,000
Inventory: $29,440
Real Estate: $1,300,000
Seller Financing Available: No

Property Information

Facilities:

The business is located on a major traffic corridor and boasts a re-built restaurant with quality finishes with a dining area that seats 45, bar area with 75 seats, event room seating 250, patio with seating of 100, and office and storage with an unattached storage building. The motel has 33 rooms and one apartment. Two rooms are whirlpool suites. The two businesses are attached by an enclosed corridor. There is ample parking for both businesses.

Growth & expansion opportunities:

Increased advertising further outside region on major traffic corridor to make travelers aware of the hospitality opportunity they are approaching.

Competition:

There is little to no competition in town, and additionally there is no comparable dining venue in the region which makes this restaurant a destination for many diners in the area. The location on a major traffic corridor attracts numerous diners and motel customers.

Reason for selling:

Pursuing other interests.

Support & Training:

Will train for 2 weeks @ no cost On-sale liquor license, Food license, Food manager license, Off premises catering license. The business offers full service dining and bar items and motel lodging. Owner would benefit from being an owner-operator, experience in the hospitality industry, people management skills and payroll/bookkeeping skills.

Contact Business Seller

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Business Listed By:

Pat Steffl

Murphy Business Brokers