Broker Name:Moon Kim
Broker Email:info@v-aidgroup.com
Broker Phone:1-866-519-2421
Broker Address:2727 LBJ Freeway #775 Farmers Branch, TX 75234
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Fine Chinese Dining in Upscale N. Dallas
(Restaurants)
Collin, Texas
Listed Price: $ 237,000
Listing ID: 000829

Listing DetailsDown Payment: $ 237,000
Gross Revenue: $ 717,522
Cash Flow: $ 122,249
FFE: $ 75,000 (Included in Price)
Inventory: $ 3,000 (Included in Price)
Reason for Sale:

Health Problem/Retirement


Training & Support:

Owner will provide a sufficient training for an agreed upon period to make the transition into the business as seamless as possible.


Listing SummaryBusiness Description:

Prime location modern upscale Chinese fusion restaurant in North Dallas is available for acquisition. This business was originally established in 2018 by the current owner of the business. This business occupies a 2,675 SF space of a premier retail strip center which features gorgeous build-outs with an elegant interior that is located next to an intersection with consistently heavy traffic as well as densely populated neighborhoods filled with high-income individuals and many retailers that attract a large number of people to the area. Over 75% of customers are upper-class Caucasian that has a large amount of disposable income while the remaining is mostly Indian and Asian demographics. One direct competitor was found within the immediate market area, but this luxury Chinese restaurant targets the high income individuals in this upscale residential area while the competitor focuses on more of middle-class individuals in casual manner within their own demographic of the area. The menu recipes were made and perfected by the current owner who is not just a veteran business operator, but also an experienced chef as well. This is one-of-the-best upscale Chinese restaurant that offers a fine, variety of quality Chinese food with over 150 menu items from traditional to modern fusion Chinese cuisine that is far superior to any other Chinese restaurant in the area in terms of high-quality products and services. Gross sales have been consistently growing since its inception and are already running at $55K for per month without any marketing except for Facebook and general business listings on Yelp & Google. Proactive marketing needs to be done to reach full potential of this business, and since this business is located in high income residential area, targeted marketing to high income individuals for this area will tremendously boost the sales. Since 3rd delivery service is already set up, starting a catering service through 3rd party delivery to the local area will also increase the sales by reaching out to customers within untapped areas of the business. This business has done very well with its ground works, poised for next level growth. A potential buyer should be able to realize the growth by getting more involved in the day-to-day business operation and conducting pro-active marketing.


Competition:

Competition can be expected for this type of restaurant, but this business serves wide range of Chinese cuisine from tranditional Chinese to Modern fusion Chinese cuisine within their own demographic in the area with superior products high in quality compared to nearby restaurants.


Potential Growth:

Minimal marketing is done and proactive marketing methods are needed to fully utilize to achieve maximum income potential and there are many ways to proactively market this business such as direct mailing, flyers, social media outlets, coupons, and daily specials etc. Being a fine dining restaurant concept, more marketing tailored to high income individuals in this upscale area needs to be undertaken.


Financing/Terms:

100% cash at the time of closing or SBA Financing for Qualified Buyers.


LocationSquare Footage: 2675
Facilities:

This business is located in a 2,675 SF retail strip center is located next to an intersection with consistently heavy traffic as well as densely populated neighborhoods filled with high-income individuals and many retail shop. All equipment is in impeccable condition less than 1-3 years. This business has gorgeously built their interior to give a luxurious atmosphere while also providing high-quality services that match the business concept.


OperationYear Established: 2018
Employees: 8FT/1PT
Absentee Owner: No