Restaurant with beer and wine.

Pasadena, CA
listing image
Asking Price:$165,000
Gross Revenue:$314,000
Cash Flow:$73,000
BUSINESS DESCRIPTION

Great location at walking distance to vibrant “Old town Pasadena”. Traveled by Lots of cars and foot traffic. Established 30 years, 18 in this location. Building size is approximately 1,022 SF as per seller with seating capacity for 33 patrons. Rent is $3,975/MO, payroll is $12,500/MO, gross annual sales $314,000 and the net income is $73,000 as per seller’s tax returns. Kitchen is equipped with: walk-in cooler, walk-in freezer, a hood, flat top oven, 4 head gas burner, fryer, prep table, 2 sinks, another 2 compartment sink ,and a 3rd 3 compartment sink in the back, ice machine, dishwasher, new water heater and more. It serves American food, and a spiced variety of roasted chicken. Business opens 6 days Monday- Saturday 11:00 am- 2:30pm and closes between 2:30-5:30 then reopen 5:300-8:00. This long establish business with beer and wine license is surrounded by apartment buildings, offices, movie theaters, convention center, ice skating rink, restaurants ,shops ,bars, many hotels ,and Pasadena city hall. Has long term faithful customers that have been coming for 30 years. This destination is favorite among locals, neighboring communities and beyond for its tasty food, friendly staff, and great service. This turn-key business does not engage in any marketing efforts relying only on word of mouth. Great opportunity to grow and increase sales volume by: Advertising, using social media, starting happy hours, adding a delivery service etc. New buyer can keep the same concept, or convert to any type of cuisine. All equipment, furniture, fixtures and beer and wine license are included in the sale price. This opportunity is most convenient for an owner/operator, or as a family run business. Owner is 78years old, motivated and wants to retire.


DETAILED INFORMATION
Location
Pasadena, CA
Inventory
Not Included in asking price
Employees
7
Facilities
Building size is 1,022 SF, in good condition. Buyer will get a new lease.
Competition
The business is in prime location and customers have been coming for 30 years to enjoy its distinctive food. City hall employees are loyal customers . In addition to the neighboring communities ,offices, movie theaters, hotels, convention center and people who visit Old Town Pasadena every day.
Growth & Expansion
The seller doesn't engage in any marketing efforts relying on word of mouth only. This translate into a good upside. New savvy buyer has a great opportunity to grow and increase sales volume by: advertising, using social media, starting happy hours, adding a delivery service etc.
Support & Training
Seller will train buyer to manage the business and provide him with the recipes that make his food stand out.
Reason for Selling
Owner is 78 years old and want to retire.
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Michael Raad
Berkshire Hathaway golden realty
Michael Raad