Listing ID: 83815
Excellent opportunity to take over a long standing, well operated restaurant located in the Brainerd Lakes Area. In operation for over 50 years, this restaurant has been serving the masses with exceptional made-fresh breakfast, lunch & dinner, along with family-style to go, and catering. Serving their sought after specialties along with local pies, they proudly invite hungry ones in for a hefty heart-warming bite. This is a great opportunity to own a successful, reputable restaurant while living in nature’s paradise in the Brainerd Lakes Area. $1,200,000 + Inventory (Inventory is estimated to be approx. $12,000 – $15,000). Price Includes Land, Building, Furniture, Fixtures & Equipment.
- Asking Price: $1,200,000
- Cash Flow: $364,000
- Gross Revenue: $1,064,526
- EBITDA: N/A
- FF&E: N/A
- Inventory: $15,000
- Inventory Included: N/A
- Established: 1965
- Property Owned or Leased:Own
- Property Included:Yes
- Building Square Footage:3,238
- Lot Size:N/A
- Total Number of Employees:17
- Furniture, Fixtures and Equipment:N/A
1.71 AC Land; Highway Frontage; Seating Capacity: 90; 88 SF Cooler; 66 SF Freezer; Hood Suppression System (New in 2017); Roof-Top HVAC (New in 2017 & 2018); Asphalt Shingles (New Fall 2019), Spray Foam & Rubber Membrane (New 2018); 40 Paved Parking Stalls.
The seller would like to assist a new owner after the sale of the business to ensure a successful transfer. It is important to the seller that the positive legacy of the business continues for generations to come.
Owner wishes to retire.
Key Growth Opportunities • Smoked Barbeque – The seller is planning to purchase a smoker and sell walk-up barbeque food outdoors in the summer months. It is anticipated this will result in significant revenue growth in 2022 and beyond. • Catering - Several years ago the owner was active in catering food for many local events. At one point in time the business had two employees dedicated to catering. A new owner could quickly increase revenue by offering catering services. • Longer Operating Hours – The current operating hours are from 7:00 AM – 9:00 PM. A new owner could expand the operating hours to generate more business. • Digital Marketing Sign – With the prime stoplight corner on busy Hwy. 371, a new owner could install a digital sign advertising the restaurant and its specials which would attract current and new customers.
The company was founded in 1965, making the business 57 years old.
The deal doesn't include inventory valued at $15,000*, which ins't included in the listing price.
The company has 17 employees and is situated in a building with disclosed square footage of 3,238 sq ft.
Why is the Current Owner Selling The Business?
There are all types of reasons why individuals resolve to sell businesses. Nevertheless, the true reason vs the one they tell you may be 2 completely different things. As an example, they might state "I have way too many various obligations" or "I am retiring". For many sellers, these reasons stand. However, for some, these might just be reasons to try to hide the reality of transforming demographics, increased competitors, recent decrease in earnings, or a variety of other reasons. This is why it is very important that you not depend absolutely on a seller's word, however rather, utilize the seller's solution combined with your total due diligence. This will repaint a more sensible picture of the business's current circumstance.
Existing Debts and Future Obligations
If the current entity is in debt, which numerous businesses are, then you will certainly have reason to consider this when valuating/preparing your deal. Lots of operating businesses borrow money with the purpose of covering items such as stock, payroll, accounts payable, and so on. Keep in mind that in some cases this can suggest that profit margins are too tight. Lots of companies fall into a revolving door of taking on debt as a way to pay back various other loans. In addition to debts, there may also be future obligations to consider. There might be an outstanding lease on tools or the structure where the business resides. The business may have existing contracts with vendors that need to be satisfied or may cause charges if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Just how do businesses in the area attract new consumers? Often times, companies have repeat clients, which form the core of their everyday revenues. Certain factors such as new competition sprouting up around the area, roadway construction, and employee turn over can influence repeat consumers and also adversely impact future revenues. One vital thing to consider is the placement of the business. Is it in a very trafficked shopping mall, or is it hidden from the highway? Clearly, the more individuals that see the business often, the higher the opportunity to construct a returning customer base. A final thought is the general area demographics. Is the business situated in a largely populated city, or is it located on the outskirts of town? Exactly how might the regional average family income influence future revenue potential?