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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Free Standing American Bar & Grill and Drive Thru Chicken Wing
(Restaurants)
Dallas, Texas
Listed Price: $ 299,000
Listing ID: 000841

Listing DetailsDown Payment: $ 150,000
Gross Revenue: $ 1,270,311
Cash Flow: $ 187,108
FFE: $ 150,000 (Included in Price)
Inventory: $ 10,000 (Included in Price)
Reason for Sale:

New opportunities. The owner resides out of state.


Training & Support:

The owner of both businesses will provide the necessary training needed to smoothly transition into the business operations.


Listing SummaryBusiness Description:

Prime location high volume American bar & restaurant and fast food chicken wing drive-thru restaurant as a package deal is available for acquisition. Both restaurants are located in a city in the county seat of Geary County, Kansas. The full-service restaurant & bar was established by the owner of the business in 2013. The fast food chicken wing drive-thru was later established in 2017 in adjacent location to the bar and grill. This American restaurant is in a 4,303 SF space of a freestanding building that is located next to major highway nearby heavy industrial area and military bases as well as lots of hotels and densely populated residential area. The second cozy chicken wing place is in a small 480 SF of freestanding building that is located next to an intersection with consistently heavy traffic and nearby densely populated residential area, and a strong presence of retail chains in the area that attract a number of people to the area. This chicken wing place doesn't have a dine-in area but specializes in drive-thru pick-up service for all orders. Most of customers are Caucasian individuals and families from nearby small businesses, the densely populated residential neighborhoods as well as from nearby large military bases. For the first location, there are 2 direct competitors serving bar & grills found in the immediate market area. One of major competitors has announced closure of the business at the end of April which is highly expected to help the immediate sales increase of the business. Few competitors were found at second location, this business targets the delivery/pickup customers through drive-thru and 3rd party delivery service within their own demographic in the area. Both businesses are located in a prime location with great visibility and give customers an easier access to the restaurant compared to other competitors and also serve superior products in quality. The menu of the American bar & restaurant consists of many traditional American cuisines such as fried chicken, grilled chicken, chicken fried steak, grilled fish, appetizers, burgers, wings, sandwitches, salads and much more. The restaurant has a reward program that you receive one point for every dollar you spend on food or alcohol. The drive-thru chicken wing place offers not only variety of quality chicken wings, but it also serves sandwitches, milk shakes, combo meal, kid's meal and etc. Two restaurants have been well positioned in immediate market area of each location and have been successfully operated with consistently increasing revenue for the last several years. Gross sales average for the first location has been in the range of $900,000 to 1,000,000/year, and the second location which was opened in 2017 has done $280,000 in 2018 which is still continuously growing. Although some marketing is in place through their website, social media outlet and specials, other proactive marketing methods needs to be utilized to achieve maximum income capacity as well as growing the customer base with individuals outside the immediate market area. Marketing can be done in various ways to increase the cash flow of this business such as direct mailing, coupon, in-house delivery service and catering service for large parties. Delivery service is provided in the chicken wing restaurant within the area through 3rd party services which is rapidly growing at present time. Owner involvement is critical to the business in order to generate more revenue since the current owner doesn't have enough time to allocate towards proactive marketing or any of the restaurant operation. This is a great opportunity to acquire an American bar & grill restaurant and chicken wing restaurant located in prime location as a package for potential buyer who is willing to be more hands-on in the day to day operation and proactive marketing to reach out to untapped areas of the city.


Competition:

Both restaurants are located in prime location with great visibility to access easily to the business than other competitors in the immediate market area.


Potential Growth:

Marketing is being done to some extent at the current time, mainly thru online marketing such as website and social media outlets like Facebook. Proactive marketing is absolutely needed to grow the sales further as well as reaching out to customers within untapped areas of the business.


Financing/Terms:

20% Cash Down with SBA Financing for Qualified Buyers or Seller is willing to owner-finance up to 50% of the final purchase price to qualified buyer.


LocationSquare Footage: 4303
Facilities:

The first place is located in 4,303 SF freestanding building next to intersection nearby densely populated residential neighborhoods and large military bases. The second place is located in a 480 SF freestanding building that has a built-in drive thru for the restaurant that is conveniently located next to major highway as well as nearby densely populated residential area and small businesses. All equipment is in impeccable condition and in working order.


OperationYear Established: 2013
Employees: 7FT/3PT
Absentee Owner: Yes