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Oklahoma College Town Restaurant Noted for Great Steaks and Dining!

Oklahoma
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Asking Price:$990,000
Gross Revenue:$1,700,000
Cash Flow:$293,000
Listing ID: 2280013Listing provided by BizBuySell
BUSINESS DESCRIPTION

Owner will consider retaining equity. Institution in its Community!

Established over 20 years, this independent establishment is a go-to destination in a vibrant Oklahoma university community, that benefits from repetitive business from various community events and organizations, college sports and education departments, and visiting teams and fans. They have a solid following with a recognized brand, and are noted for their well-curated menu, and especially steak, with a well-appointed atmosphere and a family-friendly environment. A bar and patio complement the overall experience. Approximately 25% of their business is catering, with the balance dine-in. It is a well-managed operation with low employee turnover, and ready for a new owner to benefit immediately from their success. Stated revenue and SDE are anticipated for 2024, and very similar to 2023. Owner will entertain retaining equity with right buyer.

DETAILED INFORMATION
Location
Oklahoma
Inventory
Not Included in asking price
Real Estate
Leased
Facilities
Property to be leased by the restaurant owner. Well cared for property with highly visible frontage on busy street. Appearance is sharp and clean. The owner has kept up with outside and inside maintenance and has completed several remodels over time. Facility is well-furnished and well-equipped.
Competition
Although customers in any community usually have a choice of dining, this establishment has a solid history with their community and has many recurring customers. Restaurants that serve quality steaks and other food in a nice environment are very limited in their market.
Growth & Expansion
The owner believes there is very good potential in its existing location with savvier marketing efforts, and also using their name and reputation to open another location in other markets.
Financing
Expected to qualify for SBA financing. Owner may entertain equity position.
Support & Training
The owner is very open to a transition with the Buyer for a smooth transition. The owner also may entertain an equity position with a Buyer.
Reason for Selling
Long time owner wants a change of pace or at least to reduce his day-to-day over
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Fred Phillips
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