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Popular Iowa Dinner Restaurant with Bar for Sale

Cedar Rapids, IA (Linn County)

Seller Financing Available
Photo by Elle Hughes from Pexels - Popular Iowa Dinner Restaurant with Bar for Sale - Iowa Business Advisers
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Asking Price: $179,000

Cash Flow: N/A

Gross Revenue: $1,425,000

EBITDA: N/A

FF&E: $50,000

Inventory: $16,000

Rent: $6,000 /Month

Established: 2011

Popular Iowa Dinner Restaurant with Bar for Sale

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Business Description

This high volume, eight-year established dinner restaurant offers a recognized local brand with loyal following. Located in a vibrant downtown, the over 250-seat gastropub has solid American and Midwestern menu with variety and selection of craft beers, wine and creative cocktails.

The eatery is staffed with a skilled team in the front and back of the house. This business could be a great situation for an investor looking for a bargain. An experienced chef, manager or other owner-operator type of successor including any food and beverage ownership group would also be well suited for this attractive opportunity.

Recent area improvements and significant planned development nearby should lead to enhanced revenue and earnings potential. For even more revenues and profit, lunch, brunch, Sunday hours, and outdoor patio seating could be options. The company’s strong customer base and outstanding reputation present a strong platform to increase market share and revenue through the investment of time, attention and capital in human resources, marketing, and working capital for an even more successful business. To further improve on the strong total sales volume foundation, more efficient and effective systems and processes could be put in place to improve on the 57% gross profit margins (not included wages). At the low offering price of only 12.5% of revenue, this business provides an excellent opportunity for any food service professional!

This independent establishment enjoys an excellent reputation with 4.4-star Google rating, 4.3 Facebook rating and top 10 in the market TripAdvisor ranking. Allowing for a creative entrepreneur to be able to express their ingenuity and be fully rewarded, this better than turnkey, established company is NOT a franchise – no franchise fees, royalties, reporting, bureaucracy or purchasing requirements or restrictions. Just imagine what you could do with your own business that already generates significant sales with everything in place to take it to the next level.

The owner serves as general manager and is not the chef. Before relocating out of the area, the owner is willing to be available for onsite orientation, training, and support after the sale for the fortunate buyer.

The seller may consider financing up to ten percent of the purchase price to contribute to down payment for a well-qualified buyer with negotiable terms.

If you will buy an Eastern Iowa food service business in 2019, you owe it to yourself to submit your inquiry for more information today.

Co-brokers including REALTORS® welcome.

Detailed Information

Location:
Cedar Rapids, IA
Inventory:
Included in asking price
Real Estate:
Leased
Building SF:
9,370
Lease Expiration:
N/A
Employees:
36
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
The restaurant is strategically located in a in growing area. The leased building is ideal for this type of business with good visibility and has capacity to grow. The business is housed in an attractive, noteworthy, historic building. Kitchen facilities are well equipped. The storage area is abundant. The approximately 9370 square feet total leased building size is more or less and does not include the lower level storage area. The rental rate shown is approximate and varies based on a formula according to revenue.
Competition:
Recent area improvements and significant planned development nearby should lead to enhanced revenue and earnings potential. Expected lodging expansion and additional conferences and events will generate much more activity in the immediate vicinity of the business with numerous potential patrons nearby and walking past the business.
Growth & Expansion:
The facility and equipment have capacity to grow. For even more revenues and profit, lunch, brunch, Sunday hours, and outdoor patio seating could be options. The company’s strong customer base and outstanding reputation present a strong platform to increase market share and revenue through the investment of time, attention and capital in human resources, marketing, and working capital for an even more successful business. Greater utilization of the large space during slower times of day, days of the week or seasons could augment revenue and earnings. The private event area holds great potential. To further improve on the strong total sales volume foundation, more efficient and effective systems and processes could be put in place to improve on the 57% gross profit margins (not included wages).
Financing:
Seller may consider financing up to 10% of purchase price for well-qualified buyer.
Support & Training:
The owner serves as general manager and is not the chef. Before relocating out of the area, the owner is willing to be available for onsite orientation, training, and support after the sale for the fortunate buyer. Twelve full-time employees including an assistant manager and twenty-four part-time employees contribute to business continuity and sustainability.
Reason for Selling:
Seller relocation.
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