Very Profitable Restaurant - Click for Details

Listing ID

1158

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Location

Within 1 hour of Halifax - South Shore

Description

Established in 1985, this very profitable 64 seat restaurant is the perfect size business to manage, either as husband and wife combo or a single owner/operator to hire someone to support the needs of the day to day.

There are a total of 6 staff, in addition to the owners. The menu is straight forward and can easily be taught to someone with a desire the learn. The owner was not a qualified chef when he began 35 years ago.

The location of this business is ideal, in a high traffic area, shopping plaza, surrounded by many commercial and institutional operations nearby that support ongoing demand. Located next to the only NSLC in the area now selling cannabis products, as well as a new 40,000 sqft retail development. This location is a commercial hub in the area.

This restaurant is by far the most profitable restaurant opportunity we have ever worked with, based on the price being requested! You can have your original investment back in 1 year. Example:
- $120k down and $230k financed.
- approximately $40k in payments means $185k pre tax left over.

The owners are happy to remain on-site as long as it takes and support a Buyer during the transition. They have agreed to have a negotiated amount of funds retained in a lawyer's trust account for a determined period of time, until the new owner is 100% confident they can run the business on their own.

Financial Information

2018 Sales were close to 600k and Seller's Discretionary Earnings were over $225k and trending upward year after year. The seller's anticipate 2019 Revenues will easily reach close to 700k and SDE to be between 250k and 275k.

With help from all the recent development in the neighbouring area, April 2019's sales were up 15% and May 20%.

Seller's discretionary earnings are the pretax and pre-interest profits before non-cash expenses, one owner's benefits, one time investments, and any non-related income or expenses.

Minimum Equity Required

$125,000

Real Estate

Leased Premises - $26k per year.
1440 square feet + 250 sqft for offsite storage.
Plenty of parking for customers.
Long term tenant of the property, they signed a new 5 year term as of January 1 2017 to December 31 2021, which includes an additional 5 year option.

Price

$359,000 (shares)

Non Disclosure Agreement

I hereby acknowledge that information regarding the following business(es) and/or Seller(s) is being provided to me in SECRECY AND CONFIDENCE and is to be used solely for the purpose of assessing the prospective purchase of the business(es) through Gateway Business Brokers.

I agree not to disclose any of the information given in connection herewith, either directly or indirectly, to third parties, except direct support people; nor will I use, or assist others to use, any such information for competitive trade purposes or to circumvent Gateway Business Brokers in any transaction or contact with the seller(s). I agree not to make copies of any of the material provided and to return all of it if I discontinue interest in the Business. The material and information furnished is believed to be reliable for the purpose of evaluating the Business. Further, I agree that all inquiries, investigations, negotiations, offers to purchase, and/or letters of intent must be made through Gateway Business Brokers. I agree to protect and not disclose the confidentiality of the information I receive permanently, even if I choose not to purchase the said business.

I agree that any breach of this Non-Disclosure Agreement (the "Agreement"), directly or indirectly, will be harmful to the Seller(s) and Gateway Business Brokers. In consideration for the information given, I agree that the laws of Nova Scotia will govern this Agreement and that all actions that may arise in law and/or equity shall be brought in Nova Scotia.

It is understood that this Agreement also applies to any information previously supplied by Gateway Business Brokers, verbally or in writing. I understand that neither the Seller(s), the Business(es), its officers, directors, employees, nor Gateway Business Brokers ,shall have any liability as a result of furnishing me the material included in this Agreement.

This agreement also acknowledges that the undersigned Buyer(s) has (have) been advised that Gateway Business Brokers provides Client representation for the seller(s) and Customer representation for the buyer(s) in this transaction, as per the terms that have or will be provided. I agree that should I buy, lease or come into possession of the Business, in whole or part, during the listing term or within 1 year from the expiry date of the listing term, Gateway Business Brokers’ right to a fee, as per Gateway Business Brokers’ agreement with the Seller(s), will be deemed earned. I understand I will be personally liable for payment of any applicable fees, as so reasonably determined, if I breach any clause of this agreement. It is agreed, however, that if a purchase is completed with the assistance available from Gateway Business Brokers, I am not liable for a fee.

Non-Disclosure Agreement