PRICE NEGOTIABLE Absentee Japanese Restaurant With Bar 001237
*ASKING PRICE IS NEGOTIABLE AND THE OWNER IS WILLING TO ENTERTAIN OFFERS*
Prime location Japanese restaurant located near a well-known shopping mall is now available for acquisition. This business opened its door for business in early 2015 originally as a sushi buffet, but since the height of the pandemic and to battle, the restrictions, alleviate patrons’ safety concerns, and staff shortage issues, the ownership and the management changed the business model in April 2020 to full-service dine-in, which made the overall operation more efficient and profitable by significantly reducing unnecessary food waste and labor cost. Even before changing the business model, the customers have been loyal and enjoyed the freshness and variety of options this restaurant provided, but after changing to the current business model, the business has acquired a new set of customers by offering authentic Japanese cuisine, including ramen, rice bowls, poke bowls and fresh sushi rolls that are made to order. In 2020, the monthly average net sales were $55,000 and it significantly grew to $83,000 per month in 2021. In 2022, the sales have grown to approximately $90,000 per month and are projected to hit $1,000,000 in annual sales. This business operates in a free-standing building, sharing a space with a well-known franchise food retailer and from across one of the busier malls in the city. The immediate vicinity of this business is comprised of different types of well-known nationwide restaurant chains, retail stores, and department stores providing free and immense foot traffic from shoppers and commuters. Despite being surrounded by many other restaurants, one would assume it is disadvantageous from the competition standpoint, but there are no other sushi restaurants in the immediate area, and enjoys a competition-free operation.
Much of the customer base consists of affluent, upper-middle-class individuals that live in neighboring residential areas, hospitals, hotels, churches, and shoppers from the mall. The business runs autonomously generating healthy revenue and cash flow without too much owner involvement. While many positive things have been mentioned, the new acquiring owner can push this business to its fullest potential through more internet marketing, establishing an online presence, utilizing door-to-door pamphlets, and promotional deals to neighboring businesses.
This business is operated as a fully owner-absentee and by the management team that handles payroll, bookkeeping, and back-office-related duties, which could easily be done by an active owner to eliminate management fees. The existing management team is open to providing the same service with significantly less fees for the owner to operate the business as a completely absentee base. There is minimal staff in place, but still able to handle the volume and get the food out quickly without any delay and sacrificing food quality. The day-to-day operation is handled by 3 full-time experienced cooks and 4 servers. This restaurant dishes out a variety of authentic Japanese cuisine as well as more traditional and modern items ranging from authentic Japanese ramen, sashimi, rolls, rice bowls, bento boxes, and poke bowls and served with a variety of alcoholic beverages.
The owner is seeking other opportunities.
The owner will provide a training period of 2 weeks for a smooth transition into the business.
This 4,000 SF spacious restaurant is conveniently located in a heavy traffic area on the corner of two major highways in the city across the shopping mall. Not only do surrounding restaurants and other nationwide retail businesses provide constant foot traffic and visibility, but it is also in the heart of residential neighborhoods, churches, and hotels.
All vital equipment is in good working condition.
Because the general area is the epicenter and hub of shopping and dining, the competition is unavoidable, but there is no competition in the immediate area that truly offers the freshness and variety of different options. There are other similar Asian restaurants but on different sides of the highways.
Targeted marketing to the nearby residential areas will be a huge draw by utilizing door hangers, etc. since the establishment is very close to residential neighborhoods. Focusing on acquiring corporate accounts for catering from nearby corporate offices and businesses, car dealerships, schools, churches, etc., can also have an immediate effect on the overall sales.
Currently, only 50% of the dining area is being used and by utilizing 100% capacity, it should immediately increase the overall sales.
100% down at the time of closing or 30% Cash Down with SBA Financing for Qualified Buyers with Industry Experience.