Turn-Key, Highly Profitable Restaurant/Bar in The Villages

General Business Information

Listing ID:

4110-00249

Listing Type:

Exclusive Right of Sale

Price:

$995,000

Down Payment:

$130,000

Category:

Restaurants

Subcategory:

American Restaurant

County:

Lake County, Florida

State/Prov:

Florida

Country:

United States

Sales:

$1,727,495

SDE:

$416,679

Description of Business

Currently family-owned and semi-absentee operated, the current owners are looking to relocate. This themed bar/restaurant is a turn-key establishment that has been around for 14 years boasting strong sales and a positive reputation. With positive online reviews, and a potent entertainment schedule, the restaurant stays busy for mealtimes and after-hours.
There is a favorable lease in place (including additional options) and the staff is stable with trusted employees that have several years of tenure, and an excellent back-of-house kitchen manager. Ownership has implemented upgrades such as new outdoor patio furniture and a new hood/exhaust
system for the back of the house.
Growth opportunities exist to increase sales (being more hands-on in the business, advertising online, being present on social media, etc).

Listing Details

Location:

The Villages

Organization Type:

Full Corporate

Hours of Operation:

Sun - Wed, 11a-9p | Thurs, 11a-11p | Fri, 11a-2a

Years Established:

2004

Years Owned:

3

Employees FT:

8

Employees PT:

23

Managers:

1

Amount of Hours Owner Works:

20

Is Relocatable:

No

Is Home Based:

No

Is a Franchise:

No

Is Lender Pre Qualified:

Yes

May Qualify for a Visa:

Yes

Financial Information
INCOME PERIOD, Year
GROSS SALES

– Costs of Goods Sold

= Gross Profit

– Total Expenses

= Net Before Taxes
ADD BACKS

+ Owner(s) Salary

+ Benefits

+ Interest Expense

+ Depreciation

+ Other
TOTAL OWNER BENEFIT
2021
$1,727,495

$541,800

$1,185,695

$1,013,037

$172,658
$171,100

$0

$57,421

$0

$15,500
$416,679
Assets Included in Sale

Leasehold Improvements:

$70,000 Included

FF+E:

$295,000 Included

Inventory:

$20,000 Included

Total Assets Included:

$385,000

Lease Information

Monthly Rent:

$14,400

Expiration Date:

2022-12-31

Square Footage:

4,589

Summary

Reason for Sale:

Relocation

Training and Support:

Two weeks at no cost to buyer.

Non Compete:

5 Miles | 3 Years

Owner Qualifications:

Bar & Restaurant Mgmt Experience

Financing Summary:

SBA Lending through Lynne Singletary with 44 Business Capital. (407) 731-9555 | lsingletary@44businesscapital.com | Working Capital: $100,000 | Loan Fees/Closing Costs: $56,000 | Months: 120 | Rate: 7.5% | Mo Payment: $13,959

For more information on this listing, please complete our Non-Disclosure Agreement
LISTING BROKER

Tony Blair

Tony Blair
General Business Information

Listing ID: 4110-00249

Listing Type: Exclusive Right of Sale

Price: $995,000

Down Payment: $130,000

Category: Restaurants

Subcategory: American Restaurant

County: Lake County, Florida

State/Prov: Florida

Country: United States

Sales: $1,727,495

SDE: $416,679

Description of Business

Currently family-owned and semi-absentee operated, the current owners are looking to relocate. This themed bar/restaurant is a turn-key establishment that has been around for 14 years boasting strong sales and a positive reputation. With positive online reviews, and a potent entertainment schedule, the restaurant stays busy for mealtimes and after-hours.
There is a favorable lease in place (including additional options) and the staff is stable with trusted employees that have several years of tenure, and an excellent back-of-house kitchen manager. Ownership has implemented upgrades such as new outdoor patio furniture and a new hood/exhaust
system for the back of the house.
Growth opportunities exist to increase sales (being more hands-on in the business, advertising online, being present on social media, etc).

Listing Details

Location: The Villages

Organization Type: Full Corporate

Hours of Operation: Sun - Wed, 11a-9p | Thurs, 11a-11p | Fri, 11a-2a

Years Established: 2004

Years Owned: 3

Employees FT: 8

Employees PT: 23

Managers: 1

Amount of Hours Owner Works: 20

Is Relocatable: No

Is Home Based: No

Is a Franchise: No

Is Lender Pre Qualified: Yes

May Qualify for a Visa: Yes

Financial Information
INCOME PERIOD, Year: 2021


GROSS SALES: $1,727,495

– Costs of Goods Sold: $541,800

= Gross Profit: $1,185,695

– Total Expenses: $1,013,037

= Net Before Taxes: $172,658



ADD BACKS

+ Owner(s) Salary: $171,100

+ Benefits: $0

+ Interest Expense: $57,421

+ Depreciation: $0

+ Other : $15,500



TOTAL OWNER BENEFIT: $416,679

Assets Included in Sale

Inventory: $20,000 Included

FF+E: $295,000 Included

Leasehold Improvements: $70,000 Included

Total Assets Included: $385,000

Lease Information

Monthly Rent: $14,400

Expiration Date: 2022-12-31

Square Footage: 4,589

Summary

Reason for Sale:

Relocation

Training and Support:

Two weeks at no cost to buyer.

Non Compete: 5 Miles | 3 Years

Owner Qualifications:

Bar & Restaurant Mgmt Experience

Financing Summary: SBA Lending through Lynne Singletary with 44 Business Capital. (407) 731-9555 | lsingletary@44businesscapital.com | Working Capital: $100,000 | Loan Fees/Closing Costs: $56,000 | Months: 120 | Rate: 7.5% | Mo Payment: $13,959