Award winning Bistro - Click for Details
Halifax, Nova Scotia
Local, trendy, and hip.......very few would suggest this operation is not an award winning bistro, while many will see all of their needs meet when it comes to acquiring the right operation. We welcome any discerning buyer looking add to their portfolio or an experienced manager or chef to step up. Any hands on engagement is sure to make a difference. This offering has been a community favourite for many years, providing a solid leap off point for just one buyer interested in taking ownership of a local jewel or stepping up their game.
A few highlights:
- Open just 48 hours per week.
- Lunch and Dinner service only. There is a VERY easy opportunity to add in brunch, expected to add $140k+ in additional revenues.
- Seating for approximately 70 = an intimate experience for guests and staff, food is family.
Revenues have ranged from $925k to $1.03M over the past 4 years. There is an additional $24k in rental income, which could also be increased. Sales mix is approximately 23% alcohol and balance food and non-alcoholic beverage.
COGS are 32% and labour 31% in 2018.
Seller's Discretionary Earnings have ranged from $146k to $214k over the past 4 years. There is an additional $50k+ available should a duo look to take over the operation, displacing a current staff member.
* 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. SDE may require that expenses be adjusted if a new owner will necessarily need to take on a new expense.
Minimum Equity Required
- current lease is $5500/mth until March 2020, increasing to $6000/mth for the remaining 2 years, starting March 2020.
- a further 5 year option to renew is available
- all city services
- updated electrical, plumbing, and all
The premises includes 3 rental apartments, one of which is a 2 bedroom unit currently used as an office.
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.