Well Known & Popular Restaurant

Financials

Asking Price of business :$150,000
Included In Asking Price :Furniture, Fixtures & Equipment $50,000
Inventory :$15,000
Asking Price Of Real Estate :$275,000
Annual Sales :$925,000
Cash Flow :$142,500

Summary Description

This very well-known restaurant in the Greater Portland area is extremely popular for breakfast and has growing lunch and dinner services. It is a “turn-key” business that delivers stable revenues and profits, and is ready for purchase by either an owner / operator or an investor, with non-owner management currently in place. The restaurant’s clientele, history, and quality of service provide steady year-round business, while its location allows it to take full advantage of seasonal visitors and tourists. It seats 55, features several new updates and equipment purchases, and has plenty of convenient parking.

General Information

Year Established :1955
Employees :20 FT / 5 PT
Facilities :The restaurant’s real property is for sale and is included in the offering price. The business is located off of one of Southern Maine’s most highly trafficked roads in an area which draws large numbers of tourists and shoppers, while also close to Maine’s largest city. The building has approximately 1,600 square feet of dining area, a 400 square foot kitchen and another 500 square feet of basement space used for an office, a walk-in cooler and inventory storage, as well as a separate prep area.
Business Location :Southern Maine

Market Outlook

Competition & Market :

The restaurant is a clear leader in its market with the popularity of its breakfast service and breakfast menu items. This popularity and its significant history provide a stable and dependable level of business year-round. The business has a number of competitors since the local market can support a significant number of restaurants, but those competitors’ success is more subject to the seasonal surges in tourists. As nearby Portland has shown, the market demand for restaurants is deep and its growth continues unabated.

Growth & Expansion :

New owners would benefit from continuing efforts to increase revenue generated from dinner service. The restaurant has all of the equipment necessary and has received good feedback from customers on its dinner service. Expanding dinner service would increase the business’s operating capacity, which the owners estimate is at 65%. One opportunity to increase awareness of the restaurant as a whole, and the dinner service in particular, would be to develop a more robust marketing plan that include the development of a social media presence and strategy.

About the Sale

Financing :

Anticipated Seller $25,000. Anticipated Bank TBD. Down Payment TBD. Working Capital Needed $25,000

Support/Training : The seller will provide transitional training to a new owner.
Reason for Sale : Seller desires to spend more time pursuing other opportunities.

Contact Information

Josh Saunders
Maine Business Brokers
Phone: 207-775-1957
Email: .(JavaScript must be enabled to view this email address)

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