Profitable Gourmet Buffet Restaurant For Sale

Business description

Established, Profitable, Fully Equipped Buffet Restaurant. 6 years established and well known in Oak Harbor for quality food at a good price. Has a huge loyal customer base. Consistently does over a million dollars in sales annually so is very profitable. Located in a busy shopping center on a high traffic street. Great signage and lots of parking, easy to get in and out of for customers. Floor plan is bright like new & very spacious. 5700 SQ FT so there is room to expand, could offer live entertainment, karaoke, dance floor even rent the space for receptions or other special events. Could offer more catering, delivery or full bar, maybe even a breakfast menu just to name a few. Also current owner’s attention is focused on 2 restaurants, so an owner operator who had their full focus here would also see an increase in cash flow. Kitchen is big, modern & beautifully equipped able to produce any type of cuisine. Plenty of refrigeration and storage space. All equipment is owned and in great shape. All furniture, fixtures and décor a cut above giving this restaurant a quality dining experience. This is definitely NOT just another buffet restaurant, the food, décor and atmosphere are much more than that. No competition with this level food and atmosphere in the area. Seating capacity 200, currently run by 3 FT and 9 PT employees. Serves beer and wine. Seller is motivated and willing to provide all the necessary training to make this a very smooth transition even some seller financing for the right buyer. If you are looking for a profitable restaurant that can do it all and still offer more then this one is definitely worth checking out for only $300,000.

Property information

Real Estate:

Lease

Lease terms:

Lease expires in 3/14/2015, Lease is renewable and is assignable

Leasehold rent:

$8,000 per annum

Living accommodation:

N/A

Location:

Located in a busy shopping center on a busy street. Plenty of parking fully equipped and ready to make even more profits.

Premises details:

Clean, bright, spacious. Fully equipped buffet, full hood system. Plenty of parking seating capacity 200. 5700 SQ FT lighting, fixtures, signage all outstanding. Plenty of room to expand or equipped enough to produce any food concept.

Size in square feet:

5700 SQ FT

Planning consent:

N/A

Business Operation

Expansion potential:

So much space, could bring in live entertainment, dance floor, offer karaoke, more catering, breakfast menu, delivery service. Even rent space for special occasions such as weddings, graduations, etc.. Put in a full bar or flat screen televisions for sporting events. So many money making endeavors for an owner to have their hand in.

Competition / Market:

There is no competition at this level of quality food and atmosphere in a dining experience anywhere in Oak Harbor or the surrounding the towns. Restaurant is profitable and has so much room to expand upon the cash flow.

Reasons for selling:

Seller pursuing other business interests.

Trading hours:

Monday thru Sunday 10:00 AM to 10:00 PM

Employees:

3 FT 9 PT

Years established:

2005

Franchise terms

N/A

Other information

Support & training:

Seller willing to offer two weeks training more is negotiable if necessary. Seller motivated and willing to go the extra mile for the right buyer. Concievable many of the staff will stay on.

Owner financing:

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

Financing available:

50% down balance to be paid in 48 months at 6% interest rate. Seller willing to work with the right buyer and go the extra mile to make a deal work.

Furniture / Fixtures value:

$25,000 (included in the asking price)

Inventory / Stock value:

$7,000