This transaction includes a business and a real estate property located in the North Houston metropolitan area.
The business consists of three primary income streams: a restaurant, bed and breakfast, and venue rentals. The real estate property consists of an 8,838-square-foot restaurant/event venue on a land of 2.038 Acres (±88,775 square feet). The buildings consist of 6,158-square-foot converted historical residence; a 22,200-square-foot event building; and a 480-square-foot cottage.
The restaurant opened in September 2018 and quickly took off as a premier destination for special occasions. Initially, it began as a breakfast/brunch restaurant but was quickly re-branded as a fine dining establishment to fill a void in the area. While outside catering is allowed for events most choose the on-site restaurant.
The most profitable year was in 2021 as the post-covid era began and events from the previous year had been canceled or rescheduled. The business has a loyal staff of cooks, floor leaders, and banquet personnel averaging 4-5 years of tenure. In the hospitality industry, this is unheard of but their commitment to success has helped to migrate the storms and setbacks brought on by covid, rising inflation, and all other unforeseen obstacles. In fact, the business retained 34 of 36 employees following the covid shutdown. All came back and gifted their time to resurrect the restaurant until payroll could be resumed.
The revenue in 2022 was $ 1,571,382. The adjusted EBITDA was negative. It is projected to be a profitable year with a more manageable and realistic budget in 2023.
Business price is $400,000; Real estate price is $3,000,000, a total $3,400,000. Seller financing is available on business sale for the qualified buyer.
