BBQ Restaurant/Bar in Meridian Ms.

Lauderdale County, MS
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Asking Price:$1,650,000
Gross Revenue:$1,080,000
FF&E:$250,000
Established Year:1998
Cash Flow:$228,000
Inventory:$15,000
Real Estate:$650,000
BUSINESS DESCRIPTION

This Iconic restaurant for sale is an incredible opportunity for anyone wanting to expand their footprint or to get started in the Food Service Industry. This beloved establishment has been a fixture in its location for over two and a half decades. The business has consistently generated around $1,000,000.00 in gross revenue for the last several years. This is an unbeatable chance to become an owner of a legacy establishment with a solid customer base for the same cost it would take to establish or start a new business. The business is priced at $1,650,000.00 and that includes the property which is valued around $650,000.00. Forget the hassle of finding an unimproved location or starting new with no customer base or having to negotiate a lease with a landlord who will control the building and what and when you can make any changes. This well established business will start earning you money from the first day of operations. With fresh energy and capitalizing on the restaurants rich history, this restaurant will continue to serve an owner for many more years. With the strategic location of the business, it continues to draw crowds and capture the attention of passerby's with decades of history and a reputation for quality service and food, the regulars will continue to be loyal along with the newcomers. The staff has been with the current owners for an average of over five years and will remain with a new owner. With the perfect location and rich history, don't miss this opportunity to create and continue a truly exceptional business.


DETAILED INFORMATION
Location
Lauderdale County, MS
Inventory
Included in asking price
Real Estate
Owned
Included in asking price
Building SF
3,898
Employees
23
Furnitures, Fixture & Equipment(FF&E)
Included in Asking Price
Facilities
The kitchen and dining area has a total of 2248 square feet and there is storage space for inventory and other items of 750 square feet in the back area of the store. The patio area is 900 square feet and the parking area and outside of the facility is well maintained and can accommodate up to 40 vehicles in the front and sides of the building. There is additional parking in an adjacent shopping center for well over 100 vehicles. The owners have recently replaced the tables and chairs in the main dining area as well as the patio area.
Competition
Market conditions for this business is very solid and the area of location continues to grow along with the metro area. The competition is and has been friendly and the four competitors in the area along with this business work together to help the business grow for each business. This is a unique situation but has worked well for all concerned.
Growth & Expansion
There is room for growth by expanding the delivery service and the catering business. They have had a strong catering business but the area where catering is offered could be expanded. The property of the business is being used to the maximum so expansion would require new locations. The strength of the brand in the area and state would allow for expansion as well as possible franchising.
Financing
No Seller Financing
Support & Training
The Seller will offer up to 30 days of training and continued consultation for six months. The owner is general manager and would like to stay as an employee if a new owner would have any interest.
Reason for Selling
Seller wants to cut back and have more time for Grandchildren.
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Randy
Shurbet
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Randy Shurbet