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Profitable Hampton Roads Seafood Restaurant In Virginia For Sale

Virginia
Asking Price:
$365,000 (USD) Furniture / Fixtures and Inventory / Stock included
Sales Revenue:
$1,736,557 (USD)
Cash Flow:
$95,543 (USD)

Established, Profitable and Successful Seafood Restaurant -- Quick Sale Opportunity!

This long-tenured, successful, and locally owned/operated seafood restaurant is an outstanding acquisition target and checks all the right boxes for motivated buyers:
1. The branding is established, highly recognizable, and well regarded by customers
2. The business has a strong track record of profitable operations
3. The restaurant has a dedicated, professional, and motivated team
4. The facility is situated on a high traffic corridor with excellent access to a major highways
5. The Hampton Roads community features a growing, vital economic landscape
6. The market is large and diverse and pulls from many customer demographic groups -- from families, tourists, retirees, students, to professionals
7. The standalone building has a unique, tasteful, and themed decor that complements the menu offering
8. The daily Happy Hour attracts a loyal, steady, repeat and profitable customer base
9. The facility seats over 250 people and is an excellent location for large group and corporate outings
10. There are many growth opportunities available, including offering lunch, catering, and entertainment options

The sellers have decided to retire and are motivated for a quick, easy and stress-free sale. The business has been pre-qualified and includes an attractive financing package. This locally-owned, highly regarded landmark business contains every ingredient necessary for a new ownership group to take the operation to the next level.

Property Information

Premises Details:

The standalone 9,312 square foot building includes enough room to comfortably seat 250 patrons which is an excellent venue for wedding receptions, corporate events, or special family occasions. There is plenty of convenient parking in an adjacent dedicated parking lot.

The building decor is themed-based and complements the menu offerings. There is a state of the art, fully-equipped kitchen, full service cocktail bar, reception station, waiter/waitress service stations ... all fully enabled to serve customers. The location of the business is ideal and situated on a major traffic corridor which connects highways, interstates and local routes. The current triple net lease runs through June 2020 and renewal options will be offered.

Business Operation

Expansion Potential:

While the business is mature and established, there are a number of growth opportunities available:
1. The addition of a lunch menu and expanded mid-day operating times
2. More aggressive marketing and social media engagement
3. Implementation of nightly entertainment and longer bar operating hours
4. Additional focus on catering and group events

Competition / Market:

This industry has a low barrier to entry but requires a moderate amount of capital and an effective location in order to be successful. This restaurant has the great advantage of tenure, brand equity and a well known reputation among the community going back to 1980 and under present ownership since 2007. The menu offering, while easily duplicated, has crafted out a geographic territory that is void of heavy seafood competition. The unique decor, reputation for quality food, professional service and customer loyalty, insulates the business from a lot of competitive pressure.

Reasons for selling:

The owners have decided to retire from the business.

Trading hours:

Monday-Sunday 4pm-10pm

Employees:
15 FT / 25 PT
Years established:
39 Years

Other Information

Support & training:

Will train for 4 weeks @ no cost
All licenses are active and compliant to successfully operate a restaurant. Product offerings includes a full service menu of seafood, grill, pasta, salads, soups and a full selection of beverages -- both alcoholic and non-alcoholic.

Financing available:

Lender pre-screened with $36,500 down.
This business has been pre-qualified for financing for an amount up to 90% of the purchase price. Indicative term sheet is included in marketing materials.

Furniture / Fixtures value:
$176,215 (USD) - included in the asking price
Inventory / Stock value:
$18,320 (USD) - included in the asking price

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