Steakhouse and Liquor Lounge For Sale

Business description

This restaurant is a family-operated steakhouse prominently located near Disney, just 20 min south of Orlando. The sale includes a restaurant & liquor lounge valued at $190K and real estate valued at $1.5M is included. Due to health reasons, the owner is looking to move out of state and his children don't want to run the restaurant. The recent drop in income has been due to the seller had to leave the country in 2007 for medical treatments; sales are coming back. 4COP liquor license is included.

Property information

Real Estate:

Lease

Lease terms:

Included in purchase: $1,500,000 valued corner L-shaped 1.4 acre lot right on 192 is included in the sale. Current owner pays $6000 for his mortgage.

Location:

The current equipment and facilities have been completely revamped as of four years ago when the owner took over what used to be an IHOP. The cooking facilities consist of a double-sided kitchen that caters to both the restaurant and lounge simultaneously. The building’s infrastructure and major systems have all been replaced—amounting to over $135,000 in leasehold improvements. The business is fully loaded with state-of-the-art equipment and fixtures for cooking, cleaning, entertaining, and managing the restaurant and lounge—amounting to a market value of approximately $100,000.

Other information

Expansion potential:

- Steady influx of new customers and repeat business due to excellent location
- Recently renovated and fully equipped facilities to support immense growth
- Big growth potential through marketing, concept revision, and area development.

Competition / Market:

The restaurant’s excellent reputation and 192 frontage provides more than ample walk-in customers. Many locals have also formed a substantial base of repeat business, both for the restaurant and the liquor lounge. Sales have been steadily growing over the last four years, with 2006 end-of-year cashflow being the strongest to date.

Support & training:

The owner no longer carries forward an ambitious marketing campaign due to his deteriorating health. The owner is more than happy to share successful marketing campaigns that he has employed in the past to more than double sales. The seller will stay on for two weeks at no cost to train the buyer and smooth the transition.

Reasons for selling:

About a year ago, the owner of the business developed a very serious and acute cancer of the spine that required immediate surgery and several months of recovery time. Since then, he has miraculously bounced back to almost full capacity, but has come to the sad conclusion that he is in no shape to continue operating such a taxing operation. Neither of the two children working in the business wants to take over operations and would rather return to their academic careers in engineering and pharmaceuticals. After the sale, the owner hopes to retire back to New York, where he first lived after emigrating to the U.S. from Argentina.

Trading hours:

Mon-Sun; 4:30pm-10:30pm

Financing available:

Seller financing: $150,000 for 36 month at 8%.

Furniture / Fixtures value:

$100,000 (included in the asking price)

Inventory / Stock value:

$5,000 (included in the asking price)