Restaurant For Sale Serving Fast-Casual Steaks 001240

Restaurant for sale serving fast-casual steaks. A legendary restaurant that's been established for almost 60 years is available for acquisition. The establishment was originally established in 1964, having been acquired by the current owner in 2008, who is the 8th owner of this restaurant. This restaurant has a unique concept that combines fast casual with a menu that is tailored for full service. The menu includes steaks such as Ribeye, New York Strip, Chicken Fried Steak, Seafood, Burgers, Salads, etc. The cut of steak consists of USDA Select and USDA Choice grades, with the owner in charge of preparing the meats and grilling to achieve a COGS of 30%. The restaurant is located in 4,000 SF of a retail strip center, surrounded by many businesses. The restaurant has a huge iconic mascot on top of the building, making the establishment easily recognizable while adding great visibility to bypassers as the establishment is next to one of the busiest streets with heavy daily traffic. The customer base comprises a good mix of demographics from low to mid-income individuals and families. Most customers are regulars, and the owners know by their names and what they order. The restaurant frequently receives bulk orders from many of the auto dealerships and schools in the nearby area. The business has seen consistent sales with an average revenue between $40,000 to $45,000 a month except in 2020 due to Covid. Even though the business has been around for almost six decades, there is still plenty of room for growth, as it solely relies on word-of-mouth for its marketing. A buyer can grow this business by adding a website and social media to gain new customers.