INITIAL BUSINESS SUMMARY
The business is currently a full-service restaurant and bar with a full liquor license, outdoor patio environment, two distinct dining areas, two full service bars, a fully appointed kitchen, and a functional useful basement.
The business space was completely remodeled and built-out in a custom fashion when it originally opened and has been very well maintained ever since. The space accommodates an expansive restaurant and bar with enough space to provide private parties in multiple areas at the same time as operating the full service walk-in restaurant/bar space. The kitchen is also of significant size and has the capacity to produce food at a much larger volume than even current sales represent. A business of this size and quality built-out from scratch in today’s market with a complete demo and completely rebuilt from the gournd up could cost as much as 1.5 million or more in build-out costs and in comparison that is without any sales even in place for a new business as opposed to this business with a 16 year operating history for $795,000.00.
This business is located in an area that is within walking distance to a lot of the immediate neighborhoods and is also within a two-minute walk to major public transportation and a major expressway. This is a huge upside for people making a very short trip from the city and the neighboring communities to enjoy all of the options this restaurant/pub has to offer including major sporting events, other events on TV, and also game nights and other social parties.
The current owner is involved on a regular basis, but does have managers who step in to that role as needed throughout a given week. The owner generally overseas the daily operational duties until mid/late afternoon unless traveling etc., but most operational duties are carried out by a long-term group of employees. A new owner can operate this business very actively and do very well or be somewhat less involved and still do well from a cash flow standpoint. A new seasoned owner with some energy and knowledge can increase business in a variety of ways as this business already has a strong foundation with consistent annual gross sales.
The business entity including all business assets, all furniture/fixtures/equipment, all business relationships, and all existing income or cash flow to the owner.
KEY UPSIDE FOR NEW OWNER:
- 16 years in business
- The “Place to Go” for food, sports TV, and private parties in this community
- Excellent Location in the center of town and right off expressway near “L” stop
- Long-term seasoned employees and managers
- Long-term loyal customer relationships
- Long-term vendor and local business relationships
- Diverse customer base that can appreciate quality dining or quality partying
- Continued strong demand for this very high quality pub style restaurant
- Large amount of outdoor seating that can be covered in changing weather
- Seller is willing to stay involved for a training period
– Purchase Price: $795,000.00 + inventory
– Annual Gross Sales (approximate): $2,062,580.25 (4 yr average)
– Used FF&E value (approximately): $300,000.00 (includes custom built aspects of bar/furniture/etc.)
– Rent Base Rent (approximately): $6470 per month
*** In order to accommodate prospective buyers, phone conferences and in-person meetings with the seller are being scheduled once a confidentiality agreement is in place and a financial ability has been established.
Please contact Dennis for more details at the email and phone number listed below.
Contact: Dennis Hansmann (President/Managing Broker/Owner) email@example.com or 312-360-1955
Total Sales: $2,062,580
Monthly Rent: $6470 per month