Drive-In Restaurant with Real Estate- Good Cash Flow

Unicoi County, TN

Asking Price:	$1,100,000
Gross Revenue:	$1,076,176
EBITDA:	$143,817
Real Estate:	$700,000

Cash Flow:	$124,699
Inventory:	$10,000
FF&E:	$60,000
Established Year:	1969

Listing ID: 2209772Listing provided by BizBuySell

BUSINESS DESCRIPTION

Here is your chance to own a profitable restaurant that is a beloved landmark with a rich history dating back several decades. Founded in 1969, Clarence's Drive-In has been a cherished gathering spot for generations of local residents and visitors alike. Throughout the years, Clarence's Drive-In has evolved with the times while retaining its nostalgic appeal. The menu expanded over the years to include classic American fare, crispy fries, hand-spun milkshakes, and savory hot dogs.
Clarence's Drive-In is ready for new owners to step forward and assume control. The business sees upwards of 400 customers a day and offers breakfast, lunch and dinners five days a week. The dining area accommodates over 90 guests at a time, not counting takeout orders.
There are numerous ways in which this business can accelerate revenue to new levels along with higher profitability.

DETAILED INFORMATION

Location

Unicoi County, TN

Inventory

Not Included in asking price

Real Estate

Owned

Included in asking price

Building SF

2,686

Furnitures, Fixture & Equipment(FF&E)

Included in Asking Price

Facilities

Housed in a former Wendy's Restaurant building strategically located off an interstate interchange, this restaurant is in great physical condition. Renovated and decorated in a semi-retro design style, the interior is pleasing, clean, and affords good distancing between tables if desired. The former drive thru window can easily be reactivated if a new owner desires. The kitchen area is very clean, well-stocked with equipment, utensils, and storage. See Executive Summary for more details.

Competition

The current level of sales is proof this is a good business generating good profit margins. Although there are other good restaurants in the market, consider what this business would do in sales if Sunday, Monday, or both days were added to the open schedule. The choice will be up to the new owners.

Growth & Expansion

As stated previously, substantial additional revenue could be generated by opening at least one additional day per week. As an example, the sellers estimate adding Sunday sales could add $5,000 per week to revenue.

Financing

SBA term sheet available. Great candidate for SBA loan with $165,000 down.

Support & Training

Two weeks of transition training is included with the sale. Additional time can be negotiated with the sellers, if needed. This business has lots of processes and systems in place, as would be expected of a well-managed restaurant. The sellers have put in place a system that has proven to be a great model for the business.

Reason for Selling

Sellers are approaching a date they would like to begin the transition into reti

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