High End French And Mediterranean Restaurant For Sale

Business description

45 Yrs Est very high end french restaurant with a mediterranean flair for sale! Located on the ground floor of a six story condo building in a very exclusive part of Palm Beach County. Restaurant seats 110 and serves delicious entrees including fish, duck, steak, pasta, chicken, and lamb. Owner is not the chef but is active as the manager, and is retiring. Approximately 75-80% of business comes from repeat local customers. Low rent of only $2500/month, but buyer must be approved by the landlord/board. All eqpmt/leasehold improvements is property of landlord. Seller states annual gross to be $625,000 and annual net income of $110.000. Restaurant closes for parts of summer due to high seasonal nature. Proof of sales to be given to qualified buyer after meeting with owner. Inventory of $10K included in asking price of $199K. Beer and wine license also included. More ambitious ownership can greatly improve business by expanding hours of operation and advertising (especially for slow summer months).

Property information

Real Estate:

Lease

Business Operation

Reasons for selling:

retirement

Employees:

14

Years established:

40

Other information

Support & training:

two weeks

Inventory / Stock value:

$10,000 (included in the asking price)