BBQ & Grill Restaurant with Real Estate - Click For Details

Listing ID

1160

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Location

Within an hour of Halifax

Description

Established and profitable BBQ restaurant without owner involvement. The business would benefit significantly from an engaged owner who has a passion for connecting with people and the community. Do you love cars, jeeps, trucks or bikes? Are you a sports fan, playing or watching? Do you love a good cooking challenge? Let's get creative, it's time this location gets a flare of passion and builds a name for itself beyond that it currently has.

Buyers who acquire businesses listed with Gateway Business Brokers are connected with a world-class business coach and mentor who will help turn dreams and plans into reality.

Taking over, there is little that requires upgrading.
- 10 staff, stable foundation, with minimal turnover
- Equipment, mostly new in last 3 years, all said to be in excellent condition. (easy inspection)
- VLT income of approximately $115k per year.....covers all operating costs of building and provides some profit.
- Building is in very good condition with heat pumps, metal roof, upgraded electrical, and plenty of room for growth

Financial Information

Total Revenues have averaged approximately $1,000,000 per year for the last 3 years. COGS have averaged 42% (food, liquor, and supplies)

Total Income available for owner operator, after new mortgage payments (per below), would be approximately

Minimum Equity Required

$400,000

Real Estate

The listing price includes the option to acquire the real estate, which was built in 1983 and received a FULL renovation in 2012. This property is a nicely updated 4,950 sft sitting on approximately 2/3rds of an acre of land located in one of the busiest commercial districts in this Nova Scotia county. Excellent exposure to major traffic and surrounding businesses, as well as a new major attraction that will begin construction shortly.

Property taxes = $22,500

The approximate market value of the real estate is $950k. A mortgage of $650k could be expected, with payments of not more than $4500/mth.

Price

Valuation in progress

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