Restaurant & Sports Bar In NW Indiana For Sale

Business description

*Note: The owners of the business also own the property. They prefer to sell the business only, however,
they are willing to sell the property and business together. The asking price for the property is $875,000. The
asking price for the business only is $450,000 plus inventory. The total purchase price (business and
property) is $1,325,000.00 plus inventory.

The owners have many other businesses and rarely have time to go to this location. They have a tremendous
amount on their plates right now & are looking to scale back a little. Most of their businesses are located in
Illinois, so it would make sense for them to sell the businesses outside of Illinois.

This is a full service restaurant and sports bar. On one half of the building is the restaurant, which specializes
in home style cooking for breakfast, lunch and dinner. On the other half of the building is the sports bar,
known for being the local hotspot, with drink specials, music, DJ's and plenty of TV's showing various
sporting events. They also have room to handle banquets (up to 100 people). They have a nice website and
you can download a copy of the menu directly from the website. Their liquor license is a full liquor license
that allows you to serve alcohol until 3:00 AM each day, 7 days a week. All customers must be out of the
building by 3:30 AM.

This business has very strong sales and cash flow, even with absentee owners. An owner operator would
do wonders for this business.

Property information

Location:

Confidential. The Base monthly rent is $6,900, NOT including RE Taxes (about $21,000/year) . The current owners also own the building/property and are willing to either sell the building/property, or lease it to you & give you a long lease, if you want. There are about 235 seats. Annual rent increases are 3%. The building is about 7,200 sq ft.

Business Operation

Expansion potential:

You will see from their cost of goods, there's a lot of room for improvement to lower the costs and make more profits. Their cost of goods for 2010 was about 47% and if you include supplies (napkins, to go containers, dry goods, etc.) it's just below 48.4%. That's too high, but common in restaurants with absentee owners. Fortunately, the hourly rate for servers and bartenders in Indiana is only $2.13 an hour. This is nearly half of what it is in Illinois and saves them a lot of money each year in payroll costs.

Other information

Owner financing:

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

Financing available:

Owners might discuss some financing with qualified & experienced buyer/operators.

Furniture / Fixtures value:

$125,000 (included in the asking price)

Inventory / Stock value:

$45,000