Friendly Family Restaurant In Western Kentucky For Sale

Business description

Friendly Family Restaurant – This Western Kentucky family restaurant could be replicated across Kentucky and across the nation, as they do so many things right. They serve steaks, seafood, etc. as well as home cooked-style meals in a friendly environment. Thus, the menu is sufficiently varied that there is typically something for everyone in the family or group, even if their tastes are not very similar. The restaurant also periodically varies the offering with, for example, a Tex-Mex day or an Italian food weekend. They have thrived for years on repeat business from the county they serve and beyond, demonstrating the success of their business model. In addition, the opportunity exists to significantly increase their profits by instituting one or both of two straightforward changes. They estimate that profits could be increased at least 25 percent or more by serving meals on Sunday. They also estimate that profits could be increased an additional 20% or more by serving alcoholic beverages. It is also very possible that sales could be increased via additional advertising, as advertising expenditures have been fairly minimal in recent years.

Furniture, Fixtures, & Equipment: $ 225,000
Vehicles and / or rolling stock: $ -0-
Inventory: $ 5,000
Accounts Receivable (if included): $ -0-
Land and Building (if included): $ 750,000
Other Assets: $ -0-
Current Liabilities to be assumed: $ -0-
Current Notes to be assumed $ -0-
Asking Price: $ 1,400,000
Down Payment: $ 210,000
Annual Sales Volume: $ 1,050,000
Cash Flow: $ 160,000

Property information

Real Estate:

Real Property Included

Location:

Not far from the center of the city.

Premises details:

6,000 sq. ft. restaurant building on 0.7 acres.

Size in square feet:

6,000

Business Operation

Expansion potential:

This business can be replicated, as it would be successful in many cities.

Competition / Market:

This business is the only family restaurant and steak and seafood restaurant in the area.

Reasons for selling:

Seller is over 65 and wishes to retire.

Trading hours:

Monday - Saturday, 7:00 am - 8:00 pm

Employees:

18 full time and 15 part time

Years established:

over 10 years

Other information

Support & training:

Seller will provide whatever support and training is needed if a reasonable salary is provided.

Owner financing:

Owner financing is available. Please contact the seller for more information.

Financing available:

Seller will provide a modest amount of financing if required by the Buyer's Lender.

Furniture / Fixtures value:

$225,000 (included in the asking price)

Inventory / Stock value:

$5,000 (included in the asking price)