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Connecticut Restaurants Business For Sale 26616

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Restaurants Businesses For Sale
UNION BAY GROUP
3401 Evanston Ave. N. Ste. A
Seattle, WA 98103
UNITED STATES

p.2067831717
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Category: Restaurants SIC:
Detail: N/A Price: $199,900
County: Down: $0
State/Prov.: CT Adj Net: $150,000
Country: USA Sales: $907,000
Relocatable No Home based No Franchise No Lender pre-qualified No
Price reduced

This is a professionally designed, award winning 64-seat restaurant with a 13-seat bar and a beautiful enclosed (roof) 32-seat attached outside patio. If I describe the cuisine you will know the name of this restaurant and without a signed Confidentiality Agreement, can?t take a chance letting a stranger know this restaurant is for sale.

I can tell you this restaurant is in Litchfield County, but can?t tell you exactly where ? yet. It has been opened only 3 years and already doing $860,000 to $907,000 a year. The asking price for the business is now $199,900 which is +/- 22.0% of 2019?s sales ($907,000). The ratio of price to sales reflects the pandemic?s current guidelines on restaurants. When this is over the price will go back to the standard ratio of +/- 35% of sales. The net (Owner?s Cash Flow) is estimated to be +/- $150,000. Investment was +/- $460,000.*

The partial first year of sales in 2016 was +/- $776,000. First full year of operations in 2017 was +/- $900,853. 2018 came in at +/- $887,518 and 2019?s was +/- $907,000.*

Got your attention? Interested?

Fill out the Confidentiality Agreement & Questionnaire and don?t forget to show how you can pay for the restaurant.

When received back, if OK, I?ll schedule a meeting with the Owner who can answer all your questions and show you the restaurant.

If you make an acceptable Offer, you?ll have plenty of time to do your ?Due Diligence? (checking the Books & Records) and observing the business by having a few drinks and dinner a few times.

Here's a few more details....to help you get a better idea of this business.

There are 64 seats inside and 30 seats in the patio. The bar has 13 stools. Dining area is +/- 1,900 s.f. and the kitchen/storage and prep area is 1,900 s.f. Total is 3,800 s.f.

Rent was recently adjusted to 6 months at $5,000/mo gross and 6 months at $4,000/mo gross. A long-term lease is possible as well as additional space.*

You?ll have to wait until you sign and fill out the forms before you find out where this restaurant is.

Good Luck

Oh, one more thing. The Owner bought the business that was here and completely changed the concept to what it is now. That took guts ? but it was worth it. The only problem is he can?t get use to working restaurant hours even though he?s been in the food business over 30 years.

Potential includes begin serving lunch Monday ? Thursdays and offer to do catering.

If qualified, depending on Offer, Owner would consider doing some financing.

Interested buyers MUST sign our Confidentiality Agreement and fill out the Questionnaire before any additional information is received or a meeting is scheduled to view the business, or the location disclosed. Forms are available at this Listing, on our website, (from the link in front of the pictures) or can be e-Mailed to you upon request. Detailed financial information showing ability to purchase, and proof of funds may be required before a meeting or conference call is scheduled.

*Note: all sales, OCF estimates and proformas are as of 2019.

A/R: Real Estate: $
Inventory: $12,000.00 Other Assets: N/A
FF&E: $ Total Assets: N/A
Leasehold: $ Included: N/A

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