Listing ID: 76506
Take over this cherished legacy business while investing in some of Colorado’s hottest real estate!
Thriving Boulder Foothills Business and Property – 11,000 Sq. Ft. Facility on 19 Acres, Featuring Two Kitchens, 300-Seats, a Tavern, Three Patios, Three Fireplaces, Multiple Dining Areas, 200-Car Parking, Gardens, Ponds, Riverfront Meadows, a 1 Bedroom/1 Bath Cottage, and Breathtaking Western Sunset Views.
Business Asking Price: $725,000
Real Estate Asking Price: $3,500,000
Combined Biz + RE: $4,225,000
This beloved and profitable restaurant, wedding and banquet facility is thriving! It is exquisitely set in the Front Range Foothills near Boulder, and both the restaurant and real estate are for sale.
The restaurant goes back many years, and the property has been beautifully updated over time with great taste and a sensitivity to structural integrity. The ambiance is exceptionally romantic.
The venue has built a great reputation and a very loyal following for its food, service and wine selection. The Front Range population is continuing to grow at a fast pace, so the future is secure as new customers keep discovering it.
Its beautiful site with 19 acres is a photographer’s dream, with riverfront meadows, ponds and even a waterfall. The over 11,000 sq. ft. facility offers a versatile layout. It has two kitchens, several dining areas, a tavern, three fireplaces, three outdoor patios, expansive garden areas, a breathtaking view of western sunsets, and even a spacious 200-car parking lot. There is also a charming one-bedroom, one-bath cabin on the restaurant property that can be lived in by a new owner, leased or used to host wedding parties or short-term B&B accommodations.
The facility is open year-round and employs 35-40 people. Prior to COVID-19, it was experiencing steady year-over-year growth, and in 2021 they are back to thriving! The addition of catering, more weddings and more banquets are potential growth areas. Its two kitchens make that possible. The restaurant is currently open to the public mostly just for dinner, with added brunches on the weekends.
This is an ideal opportunity for an entrepreneurial or strategic buyer. The real estate surrounding the restaurant is unlike any other on Colorado’s Front Range. The restaurant itself has a romantic “country inn” feel. The landscaping is simply elegant.
The current owner has been in the restaurant business for many years and has a wealth of knowledge about the local market. He now wishes to retire but will offer plenty of transition assistance, if needed.
Contact us, register with us, sign our NDA and receive our confidential Offering Summary on this extraordinary one-of-a-kind opportunity!
- Asking Price: $4,225,000
- Cash Flow: $292,081
- Gross Revenue: $2,121,261
- EBITDA: N/A
- FF&E: $120,000
- Inventory: N/A
- Inventory Included: N/A
- Established: 1970
- Property Owned or Leased:Own
- Property Included:Yes
- Building Square Footage:11,000
- Lot Size:N/A
- Total Number of Employees:30
- Furniture, Fixtures and Equipment:N/A
Restaurant, cabin, two out-buildings and 19 acres of gardens and open land currently leased to the restaurant by the separate entity also owned by the restaurant’s owner. The restaurant seats 300 indoors, has a 35-seat tavern and 3 picturesque outdoor patios. The real estate is priced at $3,500,000 and is included in the sale.
Seller will be available to train and assist new owner as needed.
Seller is retiring.
There are few competitors at this level. The real estate is exceptionally beautiful and lends itself well to outdoor weddings and great photographic opportunities around mountain views, forest foliage and water features. The cuisine is well-reviewed. The wine cellar selection is renowned. The building has an historic ambience. There is free parking for 200 cars.
The business has been stable, steady and well-loved for years and has grown with new innovations implemented by the current owners. Further growth opportunities remain and include putting more emphasis on wedding and banquet events, expanding into other service offerings, and extending its geographic outreach.
The venture was established in 1970, making the business 52 years old.
The business has 30 employees and is located in a building with estimated square footage of 11,000 sq ft.
Why is the Current Owner Selling The Business?
There are all sorts of reasons individuals decide to sell businesses. Nevertheless, the genuine factor and the one they tell you might be 2 totally different things. For instance, they might say "I have too many various obligations" or "I am retiring". For many sellers, these factors stand. But, for some, these might just be excuses to attempt to hide the reality of changing demographics, increased competition, recent decrease in revenues, or a range of other factors. This is why it is extremely crucial that you not rely totally on a seller's word, however instead, use the vendor's answer along with your general due diligence. This will repaint a much more realistic image of the business's current situation.
Existing Debts and Future Obligations
If the current business is in debt, which numerous businesses are, then you will have reason to consider this when valuating/preparing your offer. Lots of businesses borrow money in order to cover items such as inventory, payroll, accounts payable, etc. Bear in mind that sometimes this can imply that profit margins are too thin. Lots of businesses fall into a revolving door of taking loans as a way to pay back various other loans. Along with debts, there may likewise be future obligations to consider. There might be an outstanding lease on equipment or the structure where the business resides. The business may have existing agreements with vendors that should be satisfied or may cause fines if terminated early.
Understanding the Customer Base, Competition and Area Demographics
How do operating businesses in the area attract brand-new consumers? Often times, companies have repeat clients, which create the core of their everyday profits. Specific factors such as new competitors sprouting up around the area, road building, as well as staff turnover can influence repeat clients as well as adversely impact future profits. One vital thing to consider is the location of the business. Is it in an extremely trafficked shopping mall, or is it concealed from the highway? Certainly, the more people that see the business regularly, the better the chance to develop a returning client base. A last thought is the basic area demographics. Is the business placed in a densely inhabited city, or is it located on the outside border of town? Exactly how might the regional median home earnings influence future earnings potential?