Indian Restaurant For Sale - Florence, South Carolina
Indian Restaurant for sale in Florence, South Carolina for $59,000! Currently grossing an estimated $210,000 and nets $22,029. Restaurant has been built-out to accommodate and operate as an Indian Restaurant. Turnkey, move in ready! Minimal competition in the area. Includes all restaurant furniture and equipment with an estimated value of $45,000. All furniture was purchased within the last year and all equipment is still within it's 5 year warranty period. Seats 140 inside. Restaurant currently requires 5 employees to operate. The current owner does not actively work in the restaurant. Plenty of opportunity to increase revenue. Restaurant currently offers breakfast, lunch, and dinner menus. Great location with plenty of parking. Please be advised that the owner will not entertain seller financing, SBA loans, or third party lending. If seeking financing, buyer must be able to borrow against personal assets. For additional lending options Apply Here
Frequently Asked Questions:   Price: $59,000   Cash Flow: $22,029   Financing: No   Listing: Active
What is the current gross revenue for this restaurant? The current gross revenue being generated is an estimated at $210,000.
How much money does the restaurant profit? Profits are generated from the gross revenue, minus food purchases, supplies, and operating expenses. This will determine your net/cash flow.
Can I finance this restaurant? Some seller financing may be available. Terms to be discussed. This business will not qualify for a business or SBA loan due to the cash nature. If more financing is needed for startup cost you can review additional Financing Options Here.
What are my expenses and overhead for a restaurant business? Expenses will vary for each restaurant owner depending on the type of restaurant, number of employees, and location. On average restaurant expenses usually include: payroll, payroll taxes, workers compensation, accounting, advertising, supplies, food, electric, property rental fees (usually includes water and garbage), permits and licenses, phone, and liability insurance. Expenses are estimated to be $143,000 per year.
Is the restaurant property owned or leased? Currently the owner leases the property. Lease terms have 4 years remaining. New owner must be approved to take over. Note: New buyer will negotiate and sign lease terms with the property owner.
Where is the restaurant located? Located in Florence, South Carolina. Physical address will be released to qualified buyers upon execution of an NDA.
What type of equipment is included with the sale? Current list of equipment includes: Garland 10 burner stove, full size ovens (2), ice cream freezer, beer and wine refrigerator, 60' prep tables (2), ice machine, heavy duty racks (10), Arcoroc dinnerware ($5,000 value), work tables, chairs (90), double sided leather booths (20), POS system, inventory (estimated $8,000 - $10,000 value).
What size and how many customers can this restaurant seat? Restaurant is 3950 sq. ft. and seats 140 inside.
Does this restaurant currently have a beer or liquor license? Yes, this restaurant currently holds a beer/wine license.
Does the restaurant offer drive-thru or delivery service? No, this restaurant does not offer a drive-thru but it does currently offer a delivery service.
How long has the seller owned the restaurant? Seller has owned this business for more than 1 year.
Why is the owner selling? Owner is relocating.
What are the hours of operation? This business operates from 11:30am - 10:00pm Monday - Saturday. New owner may set their own hours.
What type of neighboring business are in the area? Neighboring businesses include a drive-in restaurant.
What do you recommend when purchasing a business? When purchasing this type of business we recommend forming some type of entity such as an LLC or Corporation to do business under. This not only offer protection for your personal assets, but also ensures protection of your business. If you need help forming this, we recommend that you Form A Corporation Here.
What else should I know? Restaurant has been built-out to accommodate and operate as an Indian Restaurant. Located on a busy street. Priced to sell at $59,000 with all equipment and furniture included! For additional information and to evaluate this business more Contact Us Here!
Disclaimer: Restaurants For Sale is a Restaurant Broker that brings buyers and sellers together. Restaurants For Sale does not represent, or is not affiliated with the company or franchise being offered. All agreements are made between the buyer and seller and not Restaurants For Sale. It is the prospective Buyer's duty and obligation to verify the accuracy of the Sellerís representations and if necessary retain attorneys, accountants, business appraisers, or other professionals. The representation of income is based on the efforts of the current owner. As with any business you can make more or less.