European cuisine restaurant

Monrovia, CA
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Asking Price:$175,000
Gross Revenue:$300,000
Cash Flow:$85,286
Established Year:2010
BUSINESS DESCRIPTION

Prime location in the heart of Old Town Monrovia Right on vibrant Myrtle Ave. Established 14 years, and run by a husband and wife and 3 employees. The city of Monrovia supports the Old Town business district with many community seasonal events including; the fall festival winter carriage rides, carnivals, car shows, Christmas parades occasional free live bands shows,4th of July fireworks, and the famous Monrovia’s Friday night street fair and market Which brings crowds from the entire San Gabriel Valley and beyond. The venue has all licenses and permits in place, and comes with a full kitchen; hood and all equipment needed (a list on file) to run the restaurant. Seating capacity for 60 patrons inside and in the front and back covered patios The Bldg. size is 1,200 SF, rent is $3,325/MO, annual gross sales are $300,000 and the annual net income is $85,286.Business opens for breakfast, brunch and lunch6 days a week from 8:00 am- 3:00pm and closed on Monday. Food served has a touch of European cuisine that includes; all kinds of omelets, sandwiches, pancakes, French toasts, breakfast burritos, Benedict series, all kinds of crepes, breakfast plates, kid’s breakfasts, Belgian waffles, drinks, smoothies, juices coffee, espresso and more. Has lots of parking spaces in front of the restaurant, and free parking in an adjacent parking lot right outside the rear entrance in addition Monrovia Old Town provides plenty of supporting free parking for the business district. All equipment, furniture and fixtures are included in the sale. This business with somewhat built-in loyal clientele is the neighborhood favorite destination for its unique menu and cozy atmosphere. It has an unlimited potential to grow. Business does not engage in active marketing efforts. This translates to significant upside potential New owner can keep the same concept or convert to any type of cuisine. Best if run by a family, or someone with passion for food to take this turn-key business to a higher plateau


DETAILED INFORMATION
Location
Monrovia, CA
Inventory
Not Included in asking price
Employees
3
Facilities
The size of the restaurant is 1,200 SF, building in a good condition, has lots of parking spaces in front of the restaurant , and free parking in an adjacent parking lot right outside the rear entrance. In addition Monrovia Old Town provides plenty of supporting free parking for the business district. The monthly rent is $3,325 and long lease available.
Competition
The business is in a prime location., and Old Town Monrovia is getting very well Known . More and more people have been coming to the city to enjoy the Myrtle corridor with all its different cuisines and retail stores. Especially the Friday Monrovia Fair and market and to enjoy the many seasonal events including the fall festival winter carriage rides, carnivals, car shows, Christmas parades, occasional free bands shows, 4Th of July fireworks an famous Monrovia's Frida night street fair & market which bring crowds from the entire San Gabriel Valley.
Growth & Expansion
There is a great potential to grow the business by opening for dinner. Business does not engage in any marketing efforts . This translates to significant upside potential.. New savvy buyer can increase the revenues starting some marketing, getting active on social media, mailing out coupons, starting customers loyalty program etc.
Support & Training
Seller will train showing new buyer his way of running his operation.
Reason for Selling
Ritiring and want to take care of his old mother.
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Michael Raad
Berkshire Hathaway golden realty
Michael Raad