This Palm Beach County restaurant for sale has excellent books and records. The restaurant has been in business since 2013. The current owner purchased the restaurant in April of 2019 and has decided to relocate his family out of the area. Online reviews have been excellent for years and the current owner has kept the high service standards, great food quality, and top rating on Trip Advisor and other online services. From April 9 – December 31, 2019 the restaurant achieved $711,000 in sales. Adding normal operating sales for January, February, and March annualized sales are $1,100,000. This was accomplished while being closed for four weeks in September (this restaurant has closed in September since inception, original owner vacationed in Europe each year.), one week for Thanksgiving and one week for Passover. The restaurant is closed on Monday throughout the year and Monday and Tuesday during the summer. Operating hours are from 4:30 pm – 9 pm on all open days. Stay open later at night, open for lunch, open in September and increase sales and profits. Covid 19 has influenced the sales. Sales through the summer have been averaging $40,000 per month. These sales should increase significantly as we get into the “season”.
This restaurant for sale is in a Publix anchored shopping center that has 135,000 square feet of retail space available. Within a ten-minute drive of the restaurant 221,000 residents live with an average household income of more than $72,000. The daytime population in a three-mile radius is more than 100,000. This indicates that a strong lunch business is feasible if new ownership decides to open for lunch. The restaurant occupies 3,150 square feet of space under air and seats 97 customers inside in a combination of tables and chairs, and booths. The outside patio is set up to accommodate 25 guests and is nicely decorated. The outside patio has aided in attracting business during Covid –19. Monthly rent of $6.702 includes all CAM and taxes. The lease expires on February 29, 2024 and there is a five-year option attached. The Restaurant Brokers can answer all your questions about this lease.
The restaurant is owned and operated by a husband and wife team. The husband runs the kitchen. The wife manages the front of house. The menu is continental cuisine. Menu items consist of assorted Chicken dishes with sauces created by the chef. Lamb duck and veal are prominently featured on the menu along with plenty of seafood and fish. There is a twilight special offered daily and attracts a nice crowd prior to 5:30 pm. This restaurant for sale has the 2COP beer and wine license.
All recipes will transfer with sale and the seller will remain for two weeks of training at no cost. To obtain all pertinent on this restaurant for sale you must agree to confidentiality and provide proof of funds in the amount of $150,000.
This is a Certified Pre-Owned Restaurant® the highest standard for restaurant listings. It has been reviewed by a Certified Restaurant Broker® and has verifiable Sellers’ Discretionary Earnings (SDE). It has been listed based on the strictest industry standards and if SBA lending is advertised, the business earnings qualify subject to Lender’s review & approval. The Business Analysis Tool with the latest profit & loss information is available for immediate review by qualified buyers and has been evaluated based on industry guidelines for expense ratios. The equipment in the store transfers free and clear of any liens subject to UCC Lien search by closing agent. If the space is leased, it is available for assignment, extensions, renewal or new agreement for qualified buyers and if the business is a franchise, it meets the criteria for transfer for assignment of the franchise. The acquisition of a Certified Pre-Owned Restaurant® includes the services of a Certified Restaurant Broker® at no cost to the buyer.Please click on the tab below to easily acknowledge confidentiality on this Restaurant for Sale. For many business opportunities, you will immediately receive the name, address, photos, and most recent financials. If you have any questions, please contact Certified Restaurant Broker Ken Eisenband at (561) 350-3365
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- Listing#: 7932
- Price: $250000
- Location: Boynton Beach
- Full Service Continental Cuisine Restaurant for Sale in palm Beach County, Florida
- Excellent online reviews and one of the top rated restaurants in the area
- Sellers Discretionary Earnings in of more than $160,000 annually
- Rent of $6,702 per month is less than 8% of gross sales
- More than 220,000 residents live in a ten minute drive from the restaurant with an average household income of more than $72,000
- QUALITY OF LIFE. Closed for six weeks per year with Limited Operating Hours the rest of year
- Menu and Recipes will Transfer and the Seller will train for two weeks at no cost
- Restaurant for Sale