Texas Restaurants Business For Sale 26214

Restaurants Businesses For Sale
3401 Evanston Ave. N. Ste. A
Seattle, WA 98103

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Category: Restaurants SIC:
Detail: N/A Price: $180,000
County: Down: $90,000
State/Prov.: TX Adj Net: $75,000
Country: USA Sales: $468,623
Relocatable No Home based No Franchise No Lender pre-qualified No
MegaBite Restaurant Brokers LLC offers, for your ownership consideration, an established full service Indian restaurant, with full bar, specializing in authentic Indian cuisine. The restaurant is located in an endcap, along one of the busiest streets for restaurants in Addison (estimated 35,000 cars/day). The restaurant was totally designed from scratch and equipped with all-new equipment. In a very short time, the restaurant was nominated 'Best in Class' in the major publications in Dallas, also received several great reviews from top food editors/critics in Dallas. IF YOU PREFER, THEN THE ESTABLISHED FULL SERVICE RESTAURANT, WITH FULL BAR AND DRIVE-THRU, IS AVAILABLE FOR CONVERSION TO YOUR CONCEPT.The long-term lease is significantly BELOW market rates. The landlord is currently trying to re-lease the space at $8,333/mo base ($25/SF/YR) versus current ~$6,281 rate. NOTE: The restaurant has been temporarily closed since October 19, 2017.

The restaurant has found its niche in the Indian market and also in the specialized catering market. The business was profitable within 3 months of starting and has built a strong customer base including catering for Indian events. The restaurant includes many features not typically available at Indian restaurants. The owner has also developed a profitable online order and delivery business which places well in online searches. A drive-thru offers additional service opportunities. Extended hours allow customers access to unique dishes that are not easy to find in other Indian restaurants. A major asset of the business is the trained, dedicated employees and written procedures/recipes to help ensure smooth operations. The Seller expects that all employees are willing to stay if desired by a new owner.

Local offices and businesses generate strong lunch traffic. The restaurant has attracted high profile diners including Bollywood stars and local VIP's. The restaurant has generated significant public relations buzz with a successful events and positive press coverage. Local American customers are increasing (with very high check averages). The owner estimates that Non-Indian customers now exceed Indian customers 60% to 40%! The restaurant has developed a loyal and dedicated clientele and has MANY growth opportunities for a new owner-operator. The Seller works part-time in the business. The Seller feels that an Owner-Operator can earn $75,000 at the current sales and much more by growing the business sales and profits. Seller reports that sales are typically 20% cash-80% credit cards and food/beverage ratios are approximately 95% food-5% beverage.

The asking price for the assets of the business is $120,000 ALL CASH or $180,000 with $90,000 cash down payment and $90,000 seller financing (5 yrs, 8%, monthly payments) to a purchaser qualified and approved by the Seller. The assets include inventory at cost of $8,000 and FFE (Furniture, Fixtures and Equipment) valued at $120,000. A purchaser will need to assume a Dishwashing Machine lease (approximately $290/mo) and Ice Machine (approximately $150/mo).

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KEYWORDS: restaurant, food, vegetarian Catering, biryani, biriyani Indian recipe, curry, south north cuisine spice spicy seasonings Asian Chinese Tandoori lamb goat mutton chili Tikka Masala Kofta Kabab Bhuna kashmiri Sell my Indian Restaurant For Sale

Facilities:The restaurant is approximately 3,967 +/- SF seating ~110 people. The floorplan consists of three dining areas (including a private party room for ~20 people, and semi-private dining area for ~40 people), bar area, large open kitchen, prep area, ample storage space, dish washing station, walk-in refrigerator and freezer. The established full service restaurant, with full bar and drive-thru, is available for conversion to your concept. The base rent is ~$6,281/month +NNN (~$2215) for a total of $8,496 per month. The base rent increases to ~$6,612 beginning June 2019. The security deposit is $8,827. The lease expires May 30, 2021 with three (3) renewal options of 5 years each. The lease includes an EXCLUSIVE right to serve Indian food (refer to details in lease). The long-term lease is significantly BELOW market rates. The landlord is currently trying to re-lease the space at $8,333/mo base ($25/SF/YR) versus current ~$6,281 rate.
br>Competition:The food service industry is very competitive and this restaurant is no exception. The local market has a range from small local mom & pops to large international food chains. HOWEVER, the Owner feels that no Indian restaurant offers the same level of menu, food quality, service, takeout, delivery and buffet.

Growth & Expansion:This is a strong location with high volume, excellent potential in a high traffic location (~35,000 vehicles per day). A new owner can continue to grow the business and increase sales and profits in several ways: 1) Improve catering sales by signing up hotels and networking with local companies, 2) Improve online delivery business ? add delivery companies, 3) Print and deliver fliers to local residents and businesses, 4) advertise on local Indian radio, 5) network with community, 6) Local store marketing and promotion

Financing:Price $120,000 ALL-CASH or $180K with $90k down and $90k Seller-financing

Support & Training:The seller wishes to ensure a seamless transition with a purchaser. He will train a buyer for up to 3 weeks included in the purchase price. The seller is willing to remain for a longer period of time, in a consulting role, if desired by a purchaser, at mutually agreed compensation.

Reason for Selling:Relocation
A/R: Real Estate: $0.00
Inventory: $8,000.00 Other Assets: N/A
FF&E: $120,000.00 Total Assets: N/A
Leasehold: $0.00 Included: N/A

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