What is the current gross revenue for this restaurant?
The current gross revenue being generated is an estimated at $210,000.
How does the restaurant profit?
Current profits are generated from the gross revenue, minus food purchases, payroll, 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 insurance. Expenses are estimated to be $143,000 per year.
What type of insurance do I need?
In most cases restaurant owners will need a minimum of the following insurance policies: business liability, worker’s compensation and business property insurance. Restaurants For Sale now offers discounts on insurance! Through our size and volume, we have partnered with some of the largest insurance brokers in the nation to offer the best rates. Request Your Free Insurance Quote Here.
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 further Contact Us About This Restaurant Here!