Profitable Steakhouse In Oil Community For Sale

Business description

This turnkey steakhouse has been in business for 7 years and has a loyal and growing customer base. We have newly renovated the interior of the restaurant in february of 2011 with a brick fire place, powered by gas and solid oak floors. A lot of our business is during the Christmas season, but there is plenty of walk in business year round. There is 100 seats in the dining room and the lounge has 32 seats and 3 HD tvs. We have a 45 seat patio as well. Summer is a slower period for our steakhouse and we had profits around $10,000/month for the whole summer with very little owner presence. In the winter, however the amount of business volume increase requires more staff and more owner involvement, but the rewards are there. There are 14 staff right now with a long term general manager in place and 2 cooks that have been there for over 2 years. The successful candidate should have an excellent knowledge of the steakhouse business and the ability to cook many steaks at a time and manage the other cooks at the same time. If these capabilities are there and I feel you are the right person for the staff and business as a whole then most of the price could be financed through me with the exception of inventory of course. Bonus programs based on profit are in place with these staff. The building is 4,000 sqft with a 3/4 basement which has plenty of racks and storage space. All equipment required is here for running the business. All the equipment, fixtures and furniture are included in the lease. The restaurant operator is resposible for the care and maintenance of the equipment. This business consistantly does 90-100k in sales per month.

Property information

Real Estate:

Lease

Lease terms:

The lease is a triple net agreement, The tenant would be resposible for property taxes, utilities, garbage disposal, insurance and maintanance. The equipment would be financed over a negotiable amount of time.

Leasehold rent:

$120,000 per annum

Leasehold rent:

$32 per sq ft per annum

Location:

The restaurant is located in Lloydminster, SK. This is one of the busiest intersections in the city with over 100,000 vehicles per day driving by. There is a City of Lloydminster owned piece of land in front of the restaurant property. It is used for green space right now so it looks great in the summer and is no maintenance.

Business Operation

Expansion potential:

There is expansion possible if you wanted to open 7 days per week and open later during the week.

Reasons for selling:

I started this business 7 years ago and I have just had enough. I would like to move to a new location and start a new adventure. Its been a fun 7 years and I wouldn't trade it for the world but its time to offer an opportunity to someone new and start a new adventure of my own.

Trading hours:

11-8:30 mon- thurs 11- 930 on weekends and closed on sunday.

Employees:

15

Years established:

7

Other information

Support & training:

Training would be available and depending on restaurant experience and knowledge the timeline would correspond with the learning curve.

Owner financing:

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

Financing available:

A percentage of the sale price could be financed over 5 years as long as there is sufficient collateral to cover such a debt.

Furniture / Fixtures value:

$300,000 (included in the asking price)

Inventory / Stock value:

$30,000

Website:

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