Be Your Own Landlord; Own this BBQ Business and the Real Estate

Here is a rare opportunity to own a regionally popular mainstay in dine-in and catering. Seller wants to devote time to other investments. This business is best as an owner/operator enterprise but is equally suited for passive ownership for someone who can provide operations oversight. Revenues average from $50,000 to $55,000 per month. The offering includes the real estate that houses the business and has three other revenue generating lessees. This is a good candidate for SBA financing. Great for Veterans business ownership. Ideal for a family owned and operated business.
Over the years in existence this establishment has built a large base of repeat customers who know the food is good and the service is excellent.

Total Sales: $658,930

Cash Flow: $54,125

EBITDA: $47,500

FFE: $50,000

FFE Included: Yes

Inventory: $3,500

Inventory Included: No

Year Established: 1985

Owner Hours Per Week: 50

Employees: 10

Real Estate: $480,000

Real Estate Included: Yes

Square Footage: 6160

Facilities Information:

The restaurant occupies the road frontage end of the building; there are three other paying businesses in the balance of the building. Rental income is not shown. This is a strong location with an abundance of traffic exposure as well as being located near major residential areas. There is a road-side sign with a messaging area for promoting. Indoor seating is 60. The dining room is attractively decorated and meticulously clean. Parking is easy and convenient for accessing the building. Three indoor smokers are included in the equipment package,

Reason For Sale:

Current owner has several other businesses and would like to downsize.

Training & Support:

Seller is willing to train a new owner for up to two weeks as part of the sale. The current staff is trained and reliable; they are also capable of running the restaurant in the owner's absence with a moderate level of supervision.

Competition:

Barbeque is a popular menu choice for many people. Here is the South, there is competition in the barbeque segment with many good operators in the market. This restaurant has weathered the competitive cycle for several decades; having a track record of longevity in the business is a real plus. Future success will need to include continued promotion on a multi-media basis, maintaining high quality food, and staying reasonably priced. If resources are available, addition of one or two virtual dining concepts to boost revenue might be considered.

Potential Growth:

Johnson City's population is expected to grow by an additional 20,000 people by 2030. There should be natural growth in customers and revenue just by maintaining current operations. Increased social and media promotion would be expected to add more revenue without adding more personnel or equipment. A strong source of potential new business would be to step up marketing of catering services for sporting events, weddings, and corporate functions.

Financing/Terms:

This package is a strong candidate for SBA financing. Seller would consider some sell