ABOUT THE OPPORTUNITY: If you're a turn-a-round artist in the restaurant business, or if you think you have the skills to turn-a-round a $4.2 million revenue restaurant, then you've got to look at this business as an absolute steal at this price. If this restaurant simply met industry standards cost management, the cash flow would be $750,000, making this restaurant worth $2,000,000. The hard work is done, the revenues are north of $4 million with a rent factor in 2016 of 5.5% with numbers like this, the restuarant ought to be earning $750,000 annually. 2017 revenues are in the same ballpark, so no we're not selling because we've lost volume.
The issue is the owner has four restaurants and this one just isn't working for him in terms of being able to devote the time and energy to fix the problem. He'd rather move-on.
WHAT'S THE OPPORTUNITY: So you ask, what's the opportunity, right! Simply stated, labor costs are completely out of control running at 45% in 2016 and the restaurant needs a tough operator to turn it around.
ABOUT THE LOCATION: This restaurant and bar is located in one of the Bay Area's hottest waterfront entertainment locations. There s a big bar area where one can pack in the crowd with great entertainment. There are large patios, yes with and S, with stunning views of the bay and docks in the area. There are banquet rooms for weddings and large parties. With about 9,000 Sq. St. plus the patios, this restaurant has it all!
There is a type 47 liquor license - hard liquor, but it is shared.
Since this is a very exclusive and private listing, that's all I can say.
YOU MUST QUALIFY BEFORE ANY INFORMATION IS RELEASED.
HOW DO ONE QUALIFY? As a qualified buyer you'll need to have deep and successful restaurant and bar experience in a high volume environment with a FICO score in the 700's and an established net worth greater than $1.5 mil, proving your successful. You'll need at least 30% down. Serious buyers only! SBA Loan is possible here.
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