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This historic north San Fernando Valley area restaurant boasts 60+ years of goodwill, making one of the most established and famed restaurants for its food category in the area. The business, which is truly a throwback to yesteryear, has a beer and wine license, outdoor patio, large parking lot and an extraordinarily loyal following that travel from outside of Los Angeles to enjoy its offerings.
This 4,400 square foot restaurant leases for 7% of gross sales (under $250k/mo, net of sale tax, and 8% over) on a lease that expires on 12/31/2027 with 2 five year options. All of the business's furniture, fixtures, equipment, 60+ years of goodwill and Type 41 Beer & Wine License will be included in the sale. Approximately $15,000 in inventory will be sold at cost at close in addition to purchase price.
Real Property Included
New operators will likely wish to maintain the same recipes and operations that have proven so successful for generations. Rather than modifying the venue’s ‘secret sauce’, the next generation of management may wish to open new locations (bricks and mortar, outlets or food trucks) or even consider going into the wholesale / retail market for its famed products.
While competition exists in the general restaurant category, this venue dominates the particular category that it is famed for. As such, with their years of goodwill in the same location, this venue is hard to match and would be difficult for an industry entrant to contend with.
2 Weeks at 20 hrs/wk
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