SOLD – Steakhouse
Prime location full-service steakhouse serving authentic traditional American style steak is available for acquisition. This business in a 4,010 SF end-cap space of retail strip center is located in the hub of a city that is well-known for a corridor for various restaurants and surrounded by numerous retail businesses that bring immense traffic throughout the day to the intersection of this restaurant. This high-end steakhouse was originally established over 25 years ago in 1993 by the previous owner and was later acquired by the current owner of the business in 2010. Over 70% of customers are middle to upper-class Caucasians that have a large amount of disposable income, and the old generation accounts for a good portion of the customer base while the business serves a wide range of ages. Competition is expected for this type of business industry, but this business is competitive in terms of traditional family-oriented concepts with its reputable name widely-known to people in this area and reasonable price points while also having been established much longer than any competitors in the area. The recipe of the menu has been perfected for the last 26 years and not only does this business offers a variety of high-quality steaks, but also does it serve appetizer, soup & salads, sandwiches, pasta, seafood, chef’s specials, desserts, and alcoholic beverages. Its prime location and its name recognition, coupled with pro-active marketing and the new owner’s active involvement in day to day operation will definitely bring his business back to its previous days and be able to reach its full potential. Currently, there is a very minimal amount of marking being done, and there are many ways to proactively market this business such as direct mailing, flyers, social media outlets, coupons, and daily specials, etc. Setting up a newer POS system and online booking system will also help the business’s operation flow much better, allowing this business to enhance the way customers are served and handled. There is a strong need to improve the current menu by offering a variety of chef-driven, creative, fusion menus tailored to the wider demographics of potential customers in this area. This 26-year established restaurant is looking for an energetic, creative entrepreneur who can take this legacy of this restaurant to the next level.