Profitable Outer Banks Restaurant Opportunity Available in NC

North Carolina

Seller Financing Available

Asking Price:	$850,000
Gross Revenue:	$1,038,974
Rent:	$1,200
Established Year:	2010

Cash Flow:	$454,416
Inventory:	$20,000
FF&E:	$101,831

Listing ID: 2100284Listing provided by BizBuySell

BUSINESS DESCRIPTION

This Fast Casual Mexican Restaurant is located in a coastal community, with a great reputation built over a successful 10 years of operations. This restaurant is poised for growth with a new owner as the owner is ready to retire.

This business has experienced increased revenue year-over-year, with the owner's benefit being over $400,000 while only being in operation for 9 months of the year. This restaurant is a destination location as well as a favorite among locals. Customers travel from miles around to taste authentic Mexican cuisine. This restaurant was pandemic-proof and has excelled with its fast-casual nature.

This Mexican Restaurant is a turnkey operation with knowledgeable staff It is currently only open during vacation season, so it provides a new owner with opportunities for growth by extending business hours and lengthening the operating season. The current hours of seasonal operation are 8 am-3 pm, 7 days a week.

The business has been SBA Pre-Approved requiring 15% down from a qualified borrower.

Seller Financing Available to a Qualified Buyer

DETAILED INFORMATION

Location

North Carolina

Inventory

Included in asking price

Real Estate

Leased

Building SF

7,800

Lease Expiration

01/03/2025

Employees

Furnitures, Fixture & Equipment(FF&E)

Included in Asking Price

Facilities

FF&E Overview: This turnkey business comes with all FF&E necessary to make this restaurant profitable and desirable. New equipment in 2019 with some replacements as recent as Dec 2022. FF&E General Condition: FF&E is maintained and well-kept with appropriate replacement as required

Competition

Restaurant has been established for over 10 years. The fast casual nature of this business makes it a destination location for the many tourists visiting each year. The coastal community attracts tourists from all around. When tourists are on vacation, one of the main objectives is to try many places to eat. The Outer Banks have a variety of restaurants to eat at, but the ratings and reputation of this business prove it to be a favorite and a must visit.

Growth & Expansion

Many opportunities for growth exist for this business under the current business model. Growth opportunities for this business include extending hours. Currently the business is open seasonally from March to November. A new owner could open the remaining months of the year. Additionally, the business is only open for breakfast, lunch and sodas. Adding another service to include dinner would increase revenue for the business. Increasing the retail portion of the business could also provide growth for the business. Lastly, franchising the business could be

Financing

Owner Financing Amount $85,000.00 Owner Financing Interest 6% Owner Financing Terms M

Support & Training

Number of Weeks Seller Will Offer Training: 4

Reason for Selling

Retirement

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