Business DescriptionA successful Texas restaurant that is currently up for sale to qualified buyers exclusively through Raincatcher. It is strategically located in the heart of the entertainment district in a popular beach town which is a very popular tourist destination, particularly in the warmer months. It is also a favorite spot for retirees heading south for the winter. The company has its loyal local following but also draws crowds from tourists, winter Texans, and passerby’s in the area. It is a more upscale restaurant known for its pasta (made fresh daily) and meatballs (which use a special recipe passed down from the owner’s grandmother). The restaurant industry is a large and booming industry with multiple sectors within the market. The company is part of the single location full-service restaurant sector, which is a $187 billion market. The single location full-service sector of the restaurant industry has demonstrated a growth rate of 3.1% over the past five years. As consumer spending continues to rise with the improving economy, this market is expected to continue growing. This continued increase in spending will positively impact the restaurant industry. The company has been steadily climbing in popularity because of its fresh, flavorful dishes. The company recognizes that consumers want quality food and has reaped the rewards of catering to this demand. Coupled with the tremendous restaurant component, the real estate that houses the business is also for sale and is included in the sales price. The restaurant does not carry any long-term debt. It is a great investment opportunity for a business investor or someone who is knowledgeable about the industry. It could also be a great opportunity for a chef looking to make a mark in the industry while living in a popular resort town. Purchase Considerations: • An established restaurant started by a longtime business owner . • Ideal location in the heart of popular Texas tourist entertainment district. • Great opportunity to grow and expand, with a recently completed outdoor kitchen and deck. • Continued steady growth of consumer spending while dining out, especially while on vacation. • Exponential growth since opening in 2015 with high gross profit margins. • High four+ star ratings with Google, Trip Advisor, Yelp and Facebook. The company is wholly owned by its operator, who works only part time on the business. This is an asset purchase. The asking price is $1,100,000 (includes real estate and inventory).
|Business||N/A||Asking Price||$1,100,000 + Inv ($270k Business + $830k RE)|
|Yrs In Business||2 Years||FF&E||$175,509 + tenant improvements|
|Employees||35 full and part time||Terms||Negotiable - Asset Purchase|
|Hours||Mon – Fri: 11:00 a.m. – 9:00 p.m. Sat – Sun: 11:00 a.m. – 10:00 p.m.||Ownership||S-corporation|
|Facilities||Owned – 4,200 square feet. The real estate is being purchased with the business and is valued at $830,000 based upon appraisal||Reason for Sale||Owner plans to pursue other interests|