Gulf Shores - Fairhope Area Destination Restaurant
Gulf Coast,
Alabama
Financials
Asking: $545,000
Included in the Asking Price:
Furniture, Fixtures & Equipment: 200000
Inventory: $15,000
Gross: $1,335,944
Cash Flow: $64,747 (see explanation below)
Summary
Description
Located in a historic district near a resort area, this is a favorite
destination restaurant, drawing from the Gulf Coast beaches to Mobile and
Pensacola, Florida.
Patrons
have a choice of dining experience from a large fine dining restaurant with
award-wining signature dishes to a friendly and casual neighborhood bar with
full food service and several TVs. Both feature a full array of dishes ranging
from fresh seafood, a taste of New Orleans and a great selection of USDA choice
aged Angus beef. Both offer a large and popular selection of wines. A covered
patio dining area has proven to be very popular meeting spot.
Plus
the business features a coffee shop, bakery, and specialty items, hand cut
meat, pizzas and hot bar for lunch. All of this is located in 8,400 square foot
updated building. The large and fully equipped kitchen is offering catering and
now has an excellent reputation throughout the Gulf Coast. The restaurant has
been recognized by Wine Spectator and the James Beard Foundation, plus it has
consistently won numerous awards and recognition and has been featured in
several other national magazines. A well-designed web site is also included.
The
absentee owner did not have any restaurant experience and opened the
restaurants as a labor of love without any thought to food and labor
costs. Food cost is 40% and labor cost
is 33.2%. A new owner/operator with proper experience can cut food cost to 35%
and labor to 28%; both percentages are accepted standards for upscale
restaurants. If these percents were achieved and factored in, the actual cash
flow should increase to approximately $120,000, which falls into the accepted
profit range for a business doing this gross annual revenue.
General Information
Year Established: 1998
Employees: 10 ft
Facilities: 8,400 sq. ft. building
Market Outlook
Growth and Expansion: Better control of food costs and labor costs will
add to the bottom line for a new owner/operator.
About the Sale
Support/Training: Seller will provide training
Reason Selling: Moving out of state
Contact Information
William Bruce, ABI
(251)
990-5910