Business For Sale Listing 157303
Restaurant & Grill, w/Real Estate Included
Status as of Jan-7-2009 at 05:59 PM: Active
Business Summary
Under continuous operation since 1985, the current owner and his wife assumed the business in June of 2003. Upon acquiring the business, the new owners expanded the menu selections and services while maintaining the allure that has kept the business a local favorite since the mid 80s. Along with their amalgam of change and preservation came the increasing profitability of this business, which has more than doubled its discretionary earnings over the past three (3) years. According to census data, the population of this area has grown over 15% from 2000 to 2004. This continuing trend accounts for a portion of the surge in business.
With a myriad of simple fast food establishments in the area, this restaurant has little competition in the sit-down dining arena. This establishment holds true to its roots in being a family oriented hangout for locals, as 80% of its customers are residents of the Hampton Roads area.
Marketing Strategy: 23+ years of good food & friendly service, word of mouth, high visibility along high traffic thru fare, positive internet reviews and comments
Sale price includes the real estate, valued at $800,000.
Categories
Industry
Location
Financials
| Sales: |
Between $500 Thousand And $1 Million (653,000) |
| Profits: |
Between $100 Thousand and $500 Thousand (126,000) |
| Profit Type: |
Cash Flow |
| Fiscal Year: |
2007 |
| Asking Price: |
Between $1 Million and $2.5 Million (1,300,000) |
