Broker Name:Kevin Chung
Broker Email:info02@v-aidgroup.com
Broker Phone:1-866-519-2421
Broker Address:2727 LBJ Freeway #775 Farmers Branch, TX 75234
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High Volume Fine Dining Chinese Restaurant
(Restaurants)
Tarrant, Texas
Listed Price: $ 1,290,000
Listing ID: 000977

Listing DetailsDown Payment: $ 645,000
Gross Revenue: $ 1,879,704
Cash Flow: $ 670,054
FFE: $ 350,000 (Included in Price)
Inventory: $ 2,000 (Included in Price)
Reason for Sale:

Burned out.


Training & Support:

The owner will provide sufficient training for an agreed-upon period to make the transition into the business as seamless as possible.


Listing SummaryBusiness Description:

High volume fine dining authentic Chinese restaurant in one of the wealthiest cities in Northwest Dallas is available for acquisition. The business was established in 2017 by the current owner and underwent a major renovation for a few years and spent nearly $500,000 for the brand new equipment and construction and officially opened the door for business in early 2019. This business is occupied in a beautifully renovated 3,726 SF free-standing building with ample parking space just off the major highway in the city and is surrounded by upscale apartments, high-end residential homes, high school, hospitals, and nationwide and local businesses. This business serves a variety of authentic Chinese dishes including seafood, pork, beef, chicken, vegetarian, lunch special, Chef's special, fried rice and noodles, soups, and especially well-known hand-pulled noodles and handmade dumplings and dim sums, which are made individually in right front of the patrons. Even though the business has been opened for less than a year, sales and reviews have been fantastic. The average monthly net sales are $200,000/month and growing due to its prime location, generous portion, fresh quality, and unique experience. The majority of the customers are wealthy Caucasian individuals and families with a lot of disposable income. This business has a very professional website and is proactive in some social media outlets, but will need to utilize all available sources including direct mailing to acquire customers from untapped areas of the city to further grow the sales. There are other ways to immediately increase overall sales by obtaining a TABC license and utilizing the full bar by serving liquor and mixed alcoholic beverages other than beer and wine this business is currently offering and also it just started utilizing third-party delivery services and this should also have a positive financial impact immediately. The staff is very experienced knowledgeable. Especially the kitchen staff has over 20 years of experience and the owner is involved in the business in managing the front of the house and supervising the kitchen for quality assurance. This business has so much more potential and is a great opportunity to acquire a highly profitable restaurant in a prime location in North Texas for a buyer who is willing to put in the time and effort to sustain its success.


Competition:

There are no other competitions that serve a variety of high-quality authentic Chinese cuisine in a fine dining setting in the immediate market area. The food is purchased and delivered on a daily basis to ensure the freshest quality is used and served.


Potential Growth:

There is plenty of room for growth since this business has been opened for less than a year due to its prime location and number of return customers and referrals. In order to further grow the sales, the potential buyer can add liquor and mixed alcohol beverages for an immediate increase in revenue and by being a little more proactive in marketing by reaching out to local businesses and hospitals for additional catering sales and sponsoring local schools for more exposure to the public.


Financing/Terms:

100% down at the time of closing or 50% Seller Financing available.


LocationSquare Footage: 3726
Facilities:

This business is located in 3,726 SF on a free-standing building just a few minutes from the major highway heavily surrounded by an extremely high-income residential neighborhood and many other nationwide and local businesses. All equipment was purchased brand new when the business was established and is in excellent working condition.


OperationYear Established: 2019
Employees: 15FT/3PT
Absentee Owner: No