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#Business ID: 12930

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Restaurant/Sports Bar

Business Location: Lake, Indiana, United States

Asking Price: $ 450,000 Revenue: $ 1,434,261 Cash Flow: $ 242,910

[Furniture / Fixtures and Inventory / Stock included]

Business Summary

The owners have many other businesses and rarely have time to go to this location. They have a tremendous
amount on their plates right now & are looking to scale back a little. Most of their businesses are located in
Illinois, so it would make sense for them to sell the businesses outside of Illinois.

This is a full service restaurant and sports bar. On one half of the building is the restaurant, which specializes
in home style cooking for breakfast, lunch and dinner. On the other half of the building is the sports bar,
known for being the local hotspot, with drink specials, music, DJ's and plenty of TV's showing various
sporting events. They also have room to handle banquets (up to 100 people). They have a nice website and
you can download a copy of the menu directly from the website. Their liquor license is a full liquor license
that allows you to serve alcohol until 3:00 AM each day, 7 days a week. All customers must be out of the
building by 3:30 AM.

Property Details

Size:

The building is about 7,200 sq ft.

Property Type:

Real

FF&E:

$ 125,000

Inventory Value:

$ 45,000

Real Estate Value:

$ 875,000

Other Business Details

Expansion Potential:

You will see from their cost of goods, there's a lot of room for improvement to lower the costs and make more profits. Their cost of goods for 2010 was about 47% and if you include supplies (napkins, to go containers, dry goods, etc.) it's just below 48.4%. That's too high, but common in restaurants with absentee owners. Fortunately, the hourly rate for servers and bartenders in Indiana is only $2.13 an hour. This is nearly half of what it is in Illinois and saves them a lot of money each year in payroll costs.

Miscellaneous Details

Financing Available:

Yes
Owners might discuss some financing with qualified & experienced buyer/operators.

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