The Business sits in a historic coastal town setting. A desirable location on a heavy traffic riverfront with expansive views. On a busy riverwalk with ample guest parking. It is unique and has an up-scale casual dining feel. A French inspired menu and a full service lounge with signature cocktails has been a favorite among locals and tourists for 15 years. Numerous upscale leasehold improvements have been made to the building and equipment is all in working order. There had not been an interruption in normal business until March 17th with the Stay at Home order in place by the State of Oregon. The operations are supported within established operating policies/procedures and an executive chef that has been with the business for more than a year as well as a full trained team. Recent Cost of Goods Sold are a solid 29.9%. The chef and staff has received recognition for the quality of the service, food and drinks. The business has created an active and highly visible presentation in the local community and the restaurant is a popular repeat destination point for tourists traveling to the coast. The reliability of the restaurant is high, making the risk much lower. Growth & Expansion: Many options offer growth and expansion of this business. Hours have been currently for lunch 5 days a week and dinner 3 days per week, but the business planned to expand these in April due to demand. The potential is tremendous. The current team is eager to be a part of future success and continue with the plan for expanded hours due to demand of the customers. Potential outdoor seating, expanded hours were the plan of the current owner for growth and demand. All recipes included for signature cocktails and full menu to buyer. Support & Training: The ownership and employees are a team and prepared to provide an organized and structured training period for operations, policies and procedures, and all details to support the sales transition and continue without interruption of business income if desired. Reason for Selling: The owner desires relocation. Preparation: Business is ready to go immediately upon entry. Business currently has full staff. Including an experienced and acclaimed executive chef that are committed to staying with the new owners. Catering business is well established for 15 years. Repeat clientele. Contacts as well as planning/preparation documents for individual events can be passed on to buyer at buyer request.
Country: | USA |
State or Province: | OR, AL |
City: | Astoria |
Location Zip or Postal Code: | 97103 |
Service Type: | Sit-Down Table Service, Catering, Coffee/Beverage Primary |
Title of Listing: | ESTABLISHED RESTAURANT AND BAR IN BEAUTIFUL LOCATION |
Year Established: | 2004 |
Number of Locations: | 1 |
Number of Seats: | 51-150 |
Size: | 2400, Square Feet |
Patio: | Yes |
Number of Employees: | Less than 10 |
Hours of Operation: | TUESDAY-SUNDAY |
Growth or Expansion Opportunities: | MULTIPLE PLANNED |
Reason for Selling: | OWNER DESIRES RELOCATION |
Owner Operated or Absentee Owner or Flexible: | Owner Operated |
Training Provided: | Yes |
Asking Price: | $79,000 |
Gross Revenue: | $368,000-$550,000 |
Gross Revenue Range: | Under $500,000 |
EBITDA Range: | $100,000-$300,000 |
SDE Range: | $100,000 |
FF&E Value (Furniture Fixtures and Equipment): | $50,000 |
FF&E Value (Furniture Fixtures and Equipment) included in price: | Yes |
Inventory Estimated Value: | $65,000 |
Inventory Value included in price?: | Yes |
Asset or Share Sale: | Asset |
Real Estate Owned or Leased: | Leased |
Real Estate Value Included?: | Yes |
Lease Term Remaining: | negotiable |
Total Monthly Rent: | $2043.00 |