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#Business ID: 10278

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Ranch House Restaurant in Ojai, Including Property

Business Location: Ojai, California, United States

Asking Price: BUSINESS SOLD Revenue: $ 909,678 Cash Flow: $ 38,785

[Furniture / Fixtures and Inventory / Stock included]

Business Summary

Known for its spectacular natural setting, The Ranch House is one of the most beautiful environments in Southern California, the perfect place to have a romantic dinner or host a special gathering. The lush garden setting bursting with color, the peaceful meandering streams and the award-winning cuisine combine to create a warm atmosphere that has made The Ranch House one of Ojai's most desired restaurant and event locations. Popular garden sites include an oriental tea house, the rose garden, or two elevated redwood decks overlooking the restaurant ground.

The business is priced to sell at less than one times current earnings plus inventory. The real estate, which is packaged with the business, consists of two adjacent parcels totalling nearly half an acre, is for sale for $755,000, significantly below a recently appraised value, making the entire acquisition, including the business and the real estate available for $980,000. The business and real estate are being sold together, with each contingent upon the sale of the other.

Property Details

Years Established:

1956

Property Type:

Real

FF&E:

$ 50,000

Inventory Value:

$ 120,000

Other Business Details

Business Location:

"The Ranch House is a full-service restaurant which sits on a nearly ½ acre property in the scenic Ojai Valley, in central Ventura County. The restaurant itself, known as one of the most romantic settings in Southern California, seats 30 inside, and an additional 90 in several covered outdoor seating areas. For group events, indoor seating can be expanded to 40, and outdoor seating expanded to 120. The main restaurant is a 1579 square feet single-story building, built in 1956, with a dining room, bar area, kitchen, office and two restrooms. The outdoor dining areas include a covered brick area, a covered redwood deck area, and a concrete slab with a wisteria-covered pergola. There is an active koi pond and just beyond the pond, are two secluded dining areas, each large enough to accommodate one private table. The property includes an herb and vegetable garden, where local produce and herbs for use at the restaurant are grown. The sale also includes wine inventory valued at cost at $150,000."

Expansion Potential:

There are several meaningful opportunities for growth in addition simply to the energy of a new owner. A new owner could upgrade to a type 47 liquor license (pending following the guidelines of the California ABC). Currently The Ranch House serves only wine and beer. This would improve margins and qualify the facility for more events. Menu can be refreshed. Increase schedule of catered special events (especially weddings and similar parties.)

Business Operation Details

Employees:

30

Support & Training:

Included in the sale are six weeks of training, at 20 hours a week, by the current owners. Owners may be open to additional training and / or transition responsibilities at a reasonable mutually agreed upon compensation.

Miscellaneous Details

Financing Available:

Yes
Seller will finance $75,000 on the sale of the purchase price related to the business. The real estate portion may be financed by traditional bank or non-bank mortgage lender financing methods.

Reason For Selling:

Husband and wife owners are divorcing, which is prompting the sale.

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