Beach Front Restaurant – New Oceanfront Deck

Financials

Asking Price of business :$3,000,000
Included In Asking Price :Real Estate: $2,200,000 - Furniture, Fixtures & Equipment: $150,000 - Inventory: $20,000
Inventory :$20,000
Annual Sales :$2,100,000
Cash Flow :$650,000

Summary Description

This business is one of the state’s premier oceanfront hospitality destinations and a sought-after venue for weddings, corporate events, and private functions. A new 850+/-SF rooftop oceanfront deck was added prior to the 2018 season. With 100+/- feet of ocean frontage, seating for over 250 guests, multiple function rooms and outdoor seating, this facility is one of the most appealing and versatile restaurants in southern Maine. Opportunities exist to enhance the revenue stream. The new rooftop deck with outdoor seating for approximately 60 and indoor/bar seating for 40 has just started to be promoted. Day-to-day management is in place, making this opportunity an exceptional acquisition for a synergistic acquirer.

General Information

Year Established :1990
Employees :12 FT / 15 PT
Facilities :The half-acre +/- property features incredible ocean views and a two-story facility of approximately 10,000 +/- square feet capable of seating over 250 guests. The restaurant has several function rooms, which are able to accommodate a range of functions. The new 850 SF rooftop deck is a game changer. Currently, the business is closed during January and February. The facility has ample on-site parking.
Business Location :Maine

Market Outlook

Competition & Market :

The company’s current market area is expected to provide exceptional growth opportunities for many years into the future. There are few oceanfront competitors in the region with the flexibility of indoor and outdoor dining space. The company has a solid market share that can be expanded.

Growth & Expansion :

Ownership believes that a redesigned internet/social media presence will enhance revenue growth. An acquirer could promote the new upper level roof-top deck. The facility has been carefully developed to date. The business has a strong management team and is now poised for future growth.

About the Sale

Financing :

Financing to be determined on an individual basis. Working Capital Needed $100,000. Inventory $20,000 (estimated).

Support/Training : The seller will provide transitional training to a new owner.
Reason for Sale : Retirement

Contact Information

Bradley L.Kaplan
Maine Business Brokers
Phone: 207-775-1957 x 103
Email: .(JavaScript must be enabled to view this email address)

Before we can provide you with more information about our listings we need your agreement to confidentiality and your registration with us as a potential buyer. If you are not yet registered with us, please follow the link above to the Registration page. If you are already registered with us, follow the link to the inquiry page or contact the broker with whom you have been working.