QUESTIONS? Call or Text
QUESTIONS? Call or Text
$140,000 price drop!
New Cajun-themed restaurant and Sports Bar for Sale – $138,000 revenue and $20,000 profit in December 2021 alone! $1 million dollar build-out!
This Sports Bar for Sale is truly impressive! It has top marquee billing, and the cornerstone location, in a well-done Austin center with excellent co-tenants, including some great Austin brands. It is on a well-known road, a stone’s throw from a major highway through the area, and (importantly) is very close to The Domain, a massive shopping destination. (One close neighbor's location is the highest grossing of their franchise.) You are in the DOmain area without paying Domain rent!
This Sports Bar for Sale by We Sell Restaurants itself is perfectly on-theme inside, and it has 24 brand new 70” Samsung TVs with their own control system! When we say “sports bar,” we mean it. The menu is full of Cajun-inspired dishes, from catfish etouffee to jambalaya, and also includes wings, burgers, sandwiches, tacos, and more.
This location opened mid-November 2021. It is the third in a small chain started by an extremely experienced restaurateur. The other two stores, in a different Texas city, are grossing between $170K and $225K per month each, with upwards of $50,000 monthly profit. This location is slightly smaller, but still has this kind of major cash flow possibilities.
Profit right now is an estimated $20,000 per month – and this does not include either vending machines or sales from the forthcoming mixed beverages permit from the TABC (there is an existing beer and wine license). Vending averages about $5,000 per week(!) in each of this concept’s other locations. This location now has its vending machines up and running, so those revenue numbers will start to come in soon. And the mixed-beverages permit, coming before the sale, is expected to add between $30,000 and $50,000 in monthly revenue.
The commercial kitchen has everything this restaurant could possibly need, including a 20’ hood, a 10’ hood, a walk-in cooler, reach-in freezers, huge prep tables, and double convection ovens. Plus, the owner put in a new 48” griddle, three 50-pound deep fryers, a new 48” charbroiler, and a 1,200 pound ice machine! Ice machines are often rented, resulting in a monthly payment, but this store has a huge one of its own.
Rent is $15,600 including CAM. A major benefit of this space is its well-negotiated 10-year lease with two 5-year options, begun in November of 2021. Many restaurants for sale have leases that end in a few years, or that need to be renegotiated (with large rent increases) before a sale. This lease means you are covered if you want to keep the restaurant for the long-term, or there will still be plenty more years for a new owner if you later decide to sell.
This is not a franchise, so no ongoing percentage of revenue will be owed back. The founder has well over a hundred restaurants nationwide, and as such has been able to negotiate a substantial savings from both Sysco and the POS company. In order to legally continue with these very advantageous arrangements, there will be a nominal $10,000 a year licensing agreement. Because you are covered under his food cost umbrella, you will make substantially more than you ever could as a single location. It is a fairly ideal situation.
Because it is new, this restaurant is being sold at a huge discount compared to cash flow. The owner knows this; he is more interested in starting highly-profitable restaurants than in running them for the long term. He has well over one hundred restaurants nation-wide and sets up many a year, so he is very skilled in what it takes to do this well.
Because of this, this store has a very clear-cut exit strategy. Right now it is being sold at a major discount because it has not been open for three years, meaning it is not eligible for SBA lending. (The SBA backs the lion’s share of Owner / Operator restaurant loans.) This means that if you run it well for three years, it will then be eligible for SBA lending and will command a higher sales price on the market.
The cost of this restaurant is hundreds of thousands of dollars less than starting a restaurant from scratch. You benefit from someone else's build-out. Buying this restaurant saves having to find a location, negotiate a lease, deal with City permitting and a full build-out, get the right concept, hire staff, and put all the right systems in place, from the POS to the training to the right staffing levels. And on top of that, you would then have to hope that your location would be profitable.
Buy this restaurant, and all that considerable ground-work is done, you can be open and making money FROM DAY 1.
This location currently has a manager that is doing well. The manager could be kept on, or could be replaced by an Owner / Operator.
The current owner may be willing to do some seller financing for a well-qualified candidate. This restaurant is being sold at a fantastic price, and will not last long on the market.
Lease Term: expires Nov 2031
Monthly Rent: $15600,
Indoor Seating: 100
Inside Sq. Ft: 3895,
Hood System: Yes
Hours Open: 11am - 12am every day
# of Part-Time Employees: 10
# of Full-Time Employees: 4
Net Sales: $138000.00
404-800-6700
