Profitable Latin American Restaurant Also Serving Mexican Cuisine

This restaurant gets 4 and 5 star rating on Yelp with 147 reviews, showing that it is well run as an absentee operation.  It operates in one of the most beautiful old buildings in a downtown city off the 101 Hwy in wine country.  This restaurant for sale is located in San Luis Obispo County and boasts plush furniture, bold colors, rustic decor elements and vibrant wall treatments. The custom made bar, inlaid with snakeskin, copper and marble, invites you to taste a multitude of exotic imported beers and wines, as well as delicious local specialties.  Guests may get cozy in the plush dining room, or dine on the patio over looking the park while they watch the crowds walk by. 

This restaurant is one of the center pieces of this city. It takes regional dishes such as Enchiladas and Chili Renellos, and adds a personalized new twist! Dishes like you never had before with new flavors to most people. This isn't Mexican cuisine per se, but this restaurant showcases Latin Riviera Cuisine with influences from Spain, South America, Mexico and the Caribbean. There is a head chef in place to continue the tradition should the Buyer wish. 

BEER AND WINE LICENSE INCLUDED

LEASE: Situated in a 3,800 Sq. Ft. space, this restaurant features split level dining that's a perfect VIP area. The rent is $5,200 a month, giving a rent factor of 7%.  The landlord will provide a new long term lease for the new owner. It seat 100 patrons inside and 8 outside - which overlooks the park. 

OPPORTUNITY: This restaurant is absentee operated.  This was one of the seller's first ventures into the restaurant business.  He's run a good operation, but there is opportunity to make it even better.  The labor costs are high relative to industry, running at nearly 40% in 2014.  Food costs on the other hand are great at 26%.  So a working owner needs to get labot to the 30% range, Adding more than $85,000+ a year to the profit line. 

REASON FOR SELLING: This restaurant opened about late 2011 by a contractor who ventured into the restaurant business and hit a homer!  He's planning to move out of the state when he sells his set of restaurants.  

THE NUMBERS: 2014 sales should be around $870,000 based on sales through October 2014.  Owner cash flow should be around $168,000, again based on results through October.  Fix the labor issue and you've got a restaurant making you $260,000+ a year. 

SBA FINANCING AVAILABLE: This restaurant should qualify for SBA financing. The owner, however, consolidates his three restaurants plus other businesses into one tax return.  The owner has stated he can prepare the consolidation showing how his tax returns tie to the financials published here. Therefore, for the buyer to qualify for an SBA loan, he or she must has at least 5 years restaurant management, a FICO score north of 700 and at least 20-30% down payment.  In this case the Buyer needs about $90,000 to get into this restaurant. 

This is a Paramount Restaurant Brokers, inc. listing. 

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