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Alabama

Listing Type: For Sale By Broker
Category: Food & Beverage: Restaurants, Fast Food, Deli
MLS #: DB101391

Description:

Primary Category: Retail - Restaurants
Secondary Category: Retail - Bars/Taverns
Date Listed: 10/15/09
Date Last Updated: 11/19/09

Showcase Ad Tag Line: Great business for sale

Financial Information
Asking: $450,000
Gross: $913,264
Cash Flow: Not Disclosed
Furniture, Fixtures & Equipment: $1,082,026
Inventory: $39,341 (included in price)
Financing: 250,000

Summary Description
Popular S Austin night spot is becoming a favorite for both trendy locals and celebrities. After an initial failed concept featuring high end chefs, menu items, and a grocery/market, the original $M space was gutted to add a wine bar with 100s of wine & beer selections in 2008. Features over $1M in assets-including nearly $40,000 in inventory, very low lease rates, locked in for the next 10 years at a 38% discount to its neighbors. Owner has not had time to adequately manage the business. As a result, labor costs have swelled to over 60% or revenue. Excellent opportunity for new or existing concepts.Seller is selling to focus on her other multi $M dollar businesses.

General Information
Facilities: Highly desirable 4,313 SF retail rental space with new concept that opened in December of 2008 and boasts a $774K Leasehold improvement. An impressive 10 year lease option locks low rent at about 40% less than its neighbors.
Competition: New retail lease space has an approximately 40% discounted lease for up to 10 years, creating a competitive advantage.
Growth and Expansion: Concept features new a wine bar, market and restaurant that opened in late 2008. Seller has not had time to manage the business properly so business is currently operating at a loss. An obvious quick fix would include reducing the business's whopping 60% of revenue labor cost into line with more typical 20% of revenue levels. This fix alone would create positive cash flow for the business.

Support/Training: Owner will train buyer for up to 4 weeks for no additional costs.
Reason Selling: Owner wishes to focus energy of other multi $M businesses she owns
Year Established: 2005
Employees: 20

Pricing Information
Asking Price:	$450,000	FF & E:
Gross Revenue:	$950,000	Lease/Rent:	$14
Cash Flow:	$0	Inventory:
Adjust Net Income:		Real Estate:
Monthly Payroll:

About The Business
Style:	This property is leased.
Year Established:	2005	Lease/Rent:	$14
Full Time Employees:		Part Time Employees:
Size (square feet):	4300	Lot Size (acres):

About The Sale
Reason for Selling:

Is Financing Available?
Yes
Is Owner Willing To Train/Assist New Owner?
4 weeks of training
Is This a Home Based Business?
No
Is This a Distressed Business or Bankruptcy Situation?
No

Details:	Douglas Batts
Company Name:	Murphy Business & Financial Corporation
Phone Number:	469 877-3684
Fax:	972 499-0059
Cell Number:
Email The Seller:	Click Here

Primary Category: Retail - Restaurants
Secondary Category: Retail - Bars/Taverns
Date Listed: 10/15/09
Date Last Updated: 11/19/09

Showcase Ad Tag Line: Great business for sale

Financial Information
Asking: $450,000
Gross: $913,264
Cash Flow: Not Disclosed
Furniture, Fixtures & Equipment: $1,082,026
Inventory: $39,341 (included in price)
Financing: 250,000

Summary Description
Popular S Austin night spot is becoming a favorite for both trendy locals and celebrities. After an initial failed concept featuring high end chefs, menu items, and a grocery/market, the original $M space was gutted to add a wine bar with 100s of wine & beer selections in 2008. Features over $1M in assets-including nearly $40,000 in inventory, very low lease rates, locked in for the next 10 years at a 38% discount to its neighbors. Owner has not had time to adequately manage the business. As a result, labor costs have swelled to over 60% or revenue. Excellent opportunity for new or existing concepts.Seller is selling to focus on her other multi $M dollar businesses.

General Information
Facilities: Highly desirable 4,313 SF retail rental space with new concept that opened in December of 2008 and boasts a $774K Leasehold improvement. An impressive 10 year lease option locks low rent at about 40% less than its neighbors.
Competition: New retail lease space has an approximately 40% discounted lease for up to 10 years, creating a competitive advantage.
Growth and Expansion: Concept features new a wine bar, market and restaurant that opened in late 2008. Seller has not had time to manage the business properly so business is currently operating at a loss. An obvious quick fix would include reducing the business's whopping 60% of revenue labor cost into line with more typical 20% of revenue levels. This fix alone would create positive cash flow for the business.

Support/Training: Owner will train buyer for up to 4 weeks for no additional costs.
Reason Selling: Owner wishes to focus energy of other multi $M businesses she owns
Year Established: 2005
Employees: 20