Part of..
Acquisitions, Brokerage
and Financial Services
brokerage in New York's
Adirondack Region devoted
exclusively to the sale and
purchase of businesses.
| Welcome to . . .
Part of.. |
|
. . . the only business brokerage in New York's Adirondack Region devoted exclusively to the sale and purchase of businesses. |
Brokerage, Financial & Consulting Services
|
FULL SERVICE RESTAURANT w APARTMENT & TWO STORES
Asking - $485,000 Cash Flow - $ 96,000
THE BUSINESS: Established “country” full-service restaurant that offers gourmet level “fabulous food in a casual and friendly environment”, with a two-bedroom owner’s apartment and satellite summer tourist focused Gourmet Deli Shop and Wine Shop that overlook Lake Champlain. A year-around business, it has exciting yet reasonable lunches, dinners, fine wines and catering. The restaurant is in a charming town in the northeast part of a tourist-special County in Upstate New York. Opened in 2004, the restaurant is near population centers of Plattsburgh, Burlington and the famous recreation areas of The Adirondacks. It serves numerous summer vacation visitors who come for its rural delights, and tourists who frequent the area’s scenic attractions.
WHY BUY?
FACILITIES AND EQUIPMENT: The 3,500 square foot wood frame building is on .2 acres that front on busy a busy NYS road. It has interior seating for 60 diners that expand to 80 in the summer season when tables are set in front and on a dining terrace. The owner’s upstairs apartment has a full kitchen, two bedrooms, full bath and living/dining room. Completely renovated in early 2002-3, there is essentially a new kitchen, a spacious walk- in cooler and an ample wine cellar. The seasonal Wine Shop and the Deli Shop are in a nearby lakeside village with heavy summer tourist traffic.
OPPORTUNITY: The business is an established local landmark, growing, with comfortable cash based profit and sales. The demographics, location, business size and lifestyle amenities are all favorable to a very successful owner-operated full service restaurant that has good, congenial visibility for seasonal visitors and travelers. The summer shops offer an incremental profit potential.. The facility is essentially new, and the staff is loyal, experienced and stable. There is potential for merely summer opening by someone wanting to seasonal business “near the lake”. This is a reasonably priced successful starter facility for a recent culinary grad or chef looking to step out on his own, and offers on premises living “for free” in an area where lifestyle amenities abound.
FINANCIAL: The results were $ 90,000 in 2007, and strengthened after the business absorbed the cost in 2006 of starting the retail operations. These results are after adding back non-recurring costs, the value of the apartment and food that come with the business, and modest auto, travel and subscription expense, and, financial items. 2008 is expected to show both increases in sales, at the restaurant and at the Shops, and lack significant non-recurring items.
| Recast and Pro-Forma Income Statement Highlights | ||||||||||
| Fiscal Years Ended December 31, ($000's) | ||||||||||
| Owner's | Pro-Forma | |||||||||
| Internal | Fcst | 1st Year | ||||||||
| 2004 | 2005 | 2006 | 2007 | 2008 | New Owner | |||||
| Net Sales | $ 250.4 | $ 376.0 | $ 451.2 | $ 469.8 | $ 540.3 | $ 540.3 | ||||
| Gross Margin | $ 154.3 | $ 254.5 | $ 252.6 | $ 281.5 | $ 324.2 | $ 324.2 | ||||
| % to net sales | 61.6% | 67.7% | 56.0% | 59.9% | 60.0% | 60.0% | ||||
| Operating Expenses | $ 109.4 | $ 194.4 | $ 226.1 | $ 224.5 | $ 228.2 | $ 228.2 | ||||
| % to net sales | 43.7% | 51.7% | 50.1% | 47.8% | 42.2% | 42.2% | ||||
| Operating Profit | 44.9 | 60.1 | 26.5 | 57.0 | ||||||
| % to net sales | 17.9% | 16.0% | 5.9% | 12.1% | ||||||
| Business Cash Flow (1) | $45.0 | $108.3 | $61.7 | $89.6 | $ 96.0 | $96.0 | ||||
| % to net sales | 18.0% | 28.8% | 13.7% | 19.1% | 17.8% | 17.8% | ||||
(1)
Recast Earnings before Interest Expense, Depreciation, Taxes, Certain
Non-Recurring items,
|
||||||||||
SUMMARY, PRICE AND TERMS: Motivated owners list the turnkey operation and real estate with its two bedroom apartment for purchase at $ 485,000. A substantial wine inventory can be purchased separately. Commercial bank finance may be available to a credentialed food preparation qualified person who would be expected to have appropriate background and cash for investment and working capital of about $ 100,000. Sellers will aid orderly transition.
To view other featured business opportunities, click on a link below.
| Mfgr. Decorator of Ad Specialties, Souvenirs | Marina on Lake George | Gourmet Restaurant w Apt & 2 Stores | Nursery, Garden Center and Landscaping | Ray Brook Frog | Water Treatment & Environmental Services | Designer Jewelry Store | Community Icon Restaurant | Book Printer and Lithographer | Volume Mailing Service | Cabins, Motel and Rental Units | Motor Inn w Apartments & Home | Gaddy's Country Store | Silver Spruce B&B | Cheese Manufacturing Farm & Residence | 100+ acre Sherwood Forest Motor Inn |
Contact Us at the Address/Phone Number Below