MergerPlace

Turnkey Restaurant

Ontario


  • Asking Price: $349,900
  • Gross Income: $346,397
  • Cash Flow: $24,466
  • Real Estate: Not Disclosed
  • Inventory: Not Disclosed
  • FF&E: $38,000
  • Listing ID: #215355
  • Established: 2017
  • Employees: 3 FT/ 7 PT

Business Description

This Turnkey restaurant has a trained staff in place and has been recently built-out to encompass a 2,200 square foot highly sought-after street-front location. This leased location has a 10-year lease at ten dollars below market rates with an option to renew for an additional 5 years at market rates. The restaurants build out included a complete re-haul of the leased location, two roll up garage door windows were installed along with an extensive HVAC unit for proper kitchen ventilation. This restaurant has seating for over 70 patrons and a street-front patio during the summer months. The business is primed to take advantage of the newly started Ion rapid transit system at its door step.


Business Details

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

Company Information

Year Established: 2017
Home Based: No
Franchise: Yes
Relocatable: No
Number of Employees: 3 FT/ 7 PT

Financial Information

Asking Price: $349,900
Gross Revenue: $346,397
Cash Flow: $24,466
FF&E: $38,000
Seller Financing Available: No

Property Information

Facilities:

This ideal street front location has an extremely appealing lease and has been improved with substantial tenant improvements. Such as rolling garage door windows, large bar with plentiful seating, closed in patio area and a large HVAC unit for proper ventilation. This restaurant also comes with a fully equipped kitchen, tables and chairs for over 70 patrons and 3 large TV's.

Growth & expansion opportunities:

This business has the potential for incredible growth with the completion of the ION light rail system and this restaurants street front location it should create a substantial increase in foot traffic passing this restaurants door.

Competition:

The restaurant industry in Canada has a relatively low level of market share concentration. The majority of restaurants are independent and small to medium-sized operations. This business’s highly desirable location has drawn other competitors to the area however there are no direct competitors to this Southern BBQ style restaurant.

Reason for selling:

The owner is selling due to the 2 year delay of the Ion rapid transit system starting.

Support & Training:

Will train for 4 weeks @ no cost. This Southern BBQ franchised restaurant has their own signature lagers, BBQ sauce and serve fresh, high quality and delicious food such as wings, ribs, pulled pork, poutines, sandwiches, wraps and a full vegan menu.

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Business Listed By:

Greg Wood

Murphy Business Brokers