Sold
2 Restaurants in Polk County
Restaurant Revenues not effected by COVID. 2 established restaurants which had minimal effect during and after the coronavirus shutdown. Menu is very favorable for take-out so during the period restaurants were restricted to take-out only, the restaurant revenues were not dramatically affected. Once dining was put back into place, sales exceeded the pre COVID numbers. 2020 sales are projected to be over 8% higher than 2019. One restaurant has been established for 6 years with the 2nd restaurant open for over 2 years. This is a great start to start building a chain. Attractive rents at both restaurants. Landlord will write new leases for a qualified buyer. These restaurants won’t last long at this price.
Listed By: Paul McNally
Background information
Reference:
4162-04016
Year established:
2014
Reason selling:
Seller has other interests.
Finance
Sales:
$1,053,038
Profits:
$163,487
Profit type:
Discretionary Earnings
Operations
Employees:
13
Equipment:
All equipment is in good condition.
Inventory:
$4,000. Included in asking price
Premises
Facility:
2 fantastic locations, 1 in a very bust Plaza (1,600 sf) and the other a free-standing building (3,000 sf) on a well-traveled highway. New lease will be done for each location for a qualified buyer.
Square footage:
1600 & 3000
Rent and lease terms:
One restaurant rents for $3,000 per month and the 2nd restaurant rents for $$2,500 per month. New leases will be given to qualified buyers.
Location:
Both of these restaurants are located in Polk County.
Opportunities
Growth:
There are growth opportunities by expanding the hours and adding delivery. Both will help increase revenues.
Market:
While there is competition in the area, the restaurants have a well-recognized name that has been in this community for many years and has an excellent reputation.
Price and terms
Price:
$259,000
Down payment:
$259,000
Training:
Seller will work for 2 weeks at no cost for transition to the buyer.