Sports Bar Restaurant In Northwest Indiana For Sale

Business description

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.

This business has very strong sales and cash flow, even with absentee owners. An owner operator would
do wonders for this business. 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 44% and if you include
supplies (napkins, to go containers, dry goods, etc.) it's just below 46%. 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.

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.

Business Hours & Liquor License*

Monday – Thursday: 5:00 AM – 3:00 AM
Friday – Saturday: 5:00 AM – 3:00 AM
Sunday: 5:00 AM – 3:00 AM

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 much be out of the building by 3:30 AM.

Property information

Location:

Confidential

Premises details:

The Base monthly rent is $7,900, NOT including RE Taxes (about $18,000/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 290 seats. Annual rent increases are 3%. The building is about 10,000 sq ft.

Other information

Expansion potential:

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 $975,000. The asking price for the business only is $475,000 plus inventory. The total purchase price (business and property) is $1,450,000.00 plus inventory.

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:

$50,000 (included in the asking price)