Profitable restaurant + FREE bonus restaurant

Orange County, NC
Image is for illustrative purposes. Not of actual restaurant for confidentiality.
Asking Price:$2,000,000
Gross Revenue:$1,100,000
Rent:$6,000/Month
FF&E:$800,000
Cash Flow:$600,000
Inventory:$1,000,000
EBITDA:$600,000
Established Year:2020
BUSINESS DESCRIPTION

Long-running establishment in prominent location is for sale, with a brand new adjacent restaurant being thrown in for absolutely free.

The primary owner is exiting the restaurant industry to focus on other business holdings and start a family.

Both restaurants are self-running with plenty of staff in all positions. Owners are often absentee.

Fixtures, furnishings, and non-perishable inventory included easily total up to the sale price.

Primary restaurant, alone, averages $800k annual profit. Verifiable through tax returns and other documents. Full bar with one of the largest spirits collections in the area. Second restaurant is too new to gauge full run-rate, so owner is throwing it in for free to sweeten the deal. Brand new coffee bar and retail shopping area located within restaurant. Plus a huge collection of spirits at the cocktail bar.

Restaurants are frequently rented out for special events and not too affected by seasonality.

Close vicinity to plenty of residential, commercial, and lodging traffic.


DETAILED INFORMATION
Location
Orange County, NC
Inventory
Included in asking price
Real Estate
Leased
Building SF
2,000
Employees
30
Furnitures, Fixture & Equipment(FF&E)
Included in Asking Price
Facilities
Restaurants are located on the busiest main street in town within a multi-use development with plenty of retail, shopping, and residential. Anchor tenant with great relationship with landlord. Two full bars with massive spirits collection and all cocktail equipment Two kitchens with two walk-in refrigerators and a walk-in freezer Multiple fryers, burners, salamander broiler, traditional ovens, tandoor oven, sushi stations, etc
Competition
Business is running on all cylinders. There are plenty of restaurants in the area but the restaurant for sale is an area establishment. There is frequently a packed house with a line of over an hour on many nights.
Growth & Expansion
The business does a great amount of catering (that cash flow is not reflected in this listing) that helps further increase profitability for next owners. Several parties have approached current owner about franchising or opening other locations. Owner is not interested due to desire to focus on other industries and interests.
Support & Training
Owner is willing to stay on to support and train indefinitely until new owernship is comfortable. Staff is stable and experienced at running these retaurants.
Reason for Selling
Owner wants to focus on other business holdings and family.
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Chuan Tsay
Chuan Tsay