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SBA Approved-Unique Restaurant Concept Seeking Strategic Buyer
Recently approved for SBA loan with low down payment.
Located in fast growing Houston suburbs are two highly profitable and unique full-service restaurants featuring over 50 varieties of craft beer on tap, a great wine selection and an artfully crafted food menu. According to the Brewers Association, retail sales of craft beer rose 7% in 2018, to $27.58 billion, representing a 24% share of the $114.2 billion U.S. beer market. The strengths of these businesses include: family-friendly casual ambiance, high quality American fare (such as pizza, wings, salads, sliders, wraps, and shareable appetizers), Five Star customer service, and the best selection of local and national craft beers in town! These popular neighborhood eateries have been serving hungry and thirsty patrons since 2017 and have established a strong “proof of concept” with a very strong regular customer base in order to begin a nationwide expansion. This concept is VERY franchisable!
These restaurants are located in neighborhood strip centers and occupy an average of 2,400 sq. ft. and are designed with high end modern and industrial finishes such as tile, brick, rare woods, vintage light fixtures, flat screen tv's, and large outdoor patios. Free guest WIFI and USB charging stations are also provided for customer convenience. Both leases have very reasonable rental rates and have at least 7 years remaining plus two 5-year renewal option terms. The seller has immaculate books and detailed financial statements are available, including tax returns.
Per owner’s P&L, total sales are estimated at $2.6 million for 2019, with $685,000 in earnings. There is additional upside with a pending new food menu refresh. Included in the sale are $410,000 in FF&E, $640,000 in Leasehold Improvements, and $50,000 in Inventory. There are 3 managers and approximately 20 employees per location. The existing staff is well trained, experienced and knowledgeable. The owner will offer a minimum of 2 weeks of training and assistance during the transition. Additionally, proprietary recipes, training and operational manuals will be provided.
This is a great opportunity for a strategic buyer to take this concept nationwide either organically or through franchising. This entrepreneurial owner is ready to start working on his next successful business.
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