Business Details

Full Service Restaurant and Bar


Type of Business : Restaurant & Bar

Asking Price : $2250000 Plus Inventory, Approximately $5,000
Inventory : $60,000

Summary of Business

Iconic location and Restaurant. One of the most well know restaurants in all of Orange County. Management is in place including a General Manager, Chef or Kitchen Manager, and Assistant Manager. 2021 Net Sales and Net Profits are amazing. 2021 Net Sales should break $4,000,000 and the Net Profit should reach $1,000,000. Alcohol sales are approx 25% of the total sales. All income and expenses are fully reported and verifiable. The restaurant serves Modern Contemporary American Cuisine with a Craft Cocktail Bar. T

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Other Details

History and Business Strengths: Established for over 2 decades this restaurant has created an excellent reputation for enjoyment of good food and with a pleasant dining experience.

Customer Base: Many repeat and loyal customer. This is a high end restaurant so it attracts that clientele. Located in an affluent area.

Marketing and Advertising: Very little marketing is done. Great opportunity to expand.

Future Potential: Recently the city has granted extra patio space because of covid. This has helped businesses tremendously. Because of this the city is now considering making this permanent for all the businesses in that area.

Fixtures Furniture & Equipment (FF&E): The building roof, plumbing, and parking lot have all been replaced recently along with a fresh upgraded of the interior decor. There is NO deferred maintenance here. The restaurant serves Modern Contemporary American Cuisine with a Craft Cocktail Bar. The long bar seats approx 15 patrons. 

Reason for Sale: Other Interests and slow down and enjoy life more.

Income

Gross Yearly Sales: $4000000
Adjusted Yearly Net Profit: $1000000

Rent

Total Rent: $1963493
NNN: $3,505.15
Length of Lease: Lease expires: 12/31/2030 / Options Avail: 5 years
Options: 0
Sq. Ft: 5,500
Occupancy: In: 190 Out: 50 + street

Employees

Number of Employees: 46
Full time: 16
Part time: 30
Hours of Operation: Monday - Saturday 11:30 am - 10 pm, Sunday 10 am - 9 pm Hours Worked by Owner: 15-30 hours, as needed Payroll: $ 90000

Expenses

Insurance: $ 3300 per year
Electric: $ 4,000 mo for all utilities inc
Phone: $ 500
Cost of Goods: $ 25%

Additional Details

Skills / Licenses: Restaurant ownership experience.
Year Established: 1996


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