Beach Front Restaurant – New Oceanfront Deck
FinancialsAsking Price of business :$3,000,000
Included In Asking Price :Real Estate: $2,200,000 - Furniture, Fixtures & Equipment: $150,000 - Inventory: $20,000
Annual Sales :$2,100,000 Cash Flow :$650,000
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 InformationYear 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
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 SaleFinancing :
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
Maine Business Brokers
Phone: 207-775-1957 x 103
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