MergerPlace

Landmark Restaurant in Erie County with

New York (Erie)


  • Asking Price: $469,000
  • Gross Income: Not Disclosed
  • Cash Flow: Not Disclosed
  • Real Estate: Not Disclosed
  • Inventory: $15,000
  • FF&E: $140,000
  • Listing ID: #202938
  • Established: 1990
  • Employees: 3 FT / 12 PT

Business Description

Landmark restaurant with unique format, raving fans and strong brand name.
Located in a highly desirable area known for retail, food and entertainment.
Business is well-run and operates with little to no involvement by seller: Absentee Ownership.
There are several opportunities to grow by adding alcoholic drinks, catering and retail/private-label products. The strong brand name opens up the possibility of multi-unit growth.


Business Details

Primary Business Category: Restaurants, Bars & Other Food Services
Location: New York
County: Erie

Company Information

Year Established: 1990
Home Based: No
Franchise: No
Relocatable: Yes
Number of Employees: 3 FT / 12 PT

Financial Information

Asking Price: $469,000
FF&E: $140,000
Inventory: $15,000
Seller Financing Available: Yes

Property Information

Facilities:

1,750 sq. ft. building. The business occupies the first floor of a large historic building. The building is located on the retail section of a main street in an affluent and desirable area. There is on-street parking and adjacent to the building ample free municipal parking. Lease is assumable.

Growth & expansion opportunities:

There are several areas for growth any one of which would significantly impact revenues. Currently the business does not offer alcoholic beverages or catering, both of which could be added, and does very little in the way of private-label or retail products, which could be expanded. The business enjoys a strong brand name, which is a key component of multi-unit growth.

Competition:

The business is located in a destination-like entertainment & shopping district. Therefore, there are a variety of eateries to choose from, but none have the same format, universal appeal, raving fans or landmark status. In addition, the business is set up for absentee ownership. That is an attribute not often found in small businesses, especially those in the food service segment.

Reason for selling:

The seller wishes to move out west to be with family.

Support & Training:

The seller offers a minimum of 2 weeks of training to provide for a smooth transition.

Contact Business Seller

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Business Listed By:

Dean LoBrutto

Klassen Ingalls