Are you a Business Owner?
Set up your Private Seller Account and create your listing todayGet Started Here
This full service restaurant and bar offering off site catering is a local favorite. The business is located in the center of town on main street of a picturesque community in SE MN. There is minimal competition in the surrounding market. Recently remodeled restaurant and bar area, featuring a brand new kitchen and banquet facility. The business also has a nice patio area with an outdoor bar to serve patrons during the summer season. Restaurant sells typical American style food. Banquet hall facilities allow for rental income from events such as holiday parties, graduations, wedding receptions and other activities to bring in additional patrons. This restaurant has a very loyal and steady clientele. Located in the center of town on main street, this business has great exposure which attracts many new customers from the heavy traffic.
Real Property Included
Having recently remodeled the restaurant and bar area, including new equipment and the addition of a brand new kitchen and banquet facility this business is the perfect opportunity for a new owner wanting a turnkey operation. The building also has a completely remodeled three bedroom apartment featuring a cozy two sided fireplace and a private patio located just off of the master bedroom suite. The residence currently serves as the owner's home. The apartment is located on the second level of the building. This would be an excellent rental property to generate additional revenue.
Located in a beautiful growing community in Southeast Minnesota and having an excellent reputation for great food and a fun atmosphere this business will enjoy stable growth for years to come. Additional advertising and marketing in the surrounding communities will increase the business's brand awareness and help drive business growth. Expanding more into catering and events would be a way to drive sales, as well as switching up the menu and services provided.
The industry's steady growth is expected to continue over the five years to 2023 as the economy continues to improve and consumer spending grows. Consumer spending is expected to increase an annualized 1.9% over the five years to 2023, benefiting the industry. Despite the optimal operating conditions, industry restaurants will need to monitor and adjust to shifting consumer preferences. Rising health consciousness and ethical consumerism will present industry operators with ongoing opportunities to reach niche markets with premium products to increase profitability and revenue. The industry will also likely benefit from population and immigration growth, as well as a greater number of people living in urban areas where restaurants are highly concentrated. Over the five years to 2023, industry revenue is forecast to grow at an annualized rate of 1.3% to $180.4 billion. - ibisworld.com
The Single Location Full-Service Restaurants industry has experienced steady growth over the five years to 2018. Since 2013, the growing domestic economy and rising consumer spending have led to consistent increases in full-service restaurant spending. The fine dining segment has done particularly well over the past five years due to solid growth in the income levels of affluent consumers and an expanding corporate sector. Conversely, restaurants at the lower end of the market have struggled with low growth as consumers have traded down to the innovative products served by a growing number of new high-quality fast-casual chains. Over the five years to 2018, IBISWorld expects industry revenue to grow at an annualized rate of 3.7% to $169.2 billion. In 2018 alone, revenue is expected to continue its upward trajectory, growing 2.6%.
The industry competes in the broader food service sector and consists of owner-operated restaurants that are independent of chain or franchised networks. Due to the nature of being a single-location establishment, the majority of operators are small, family-run businesses, which causes the industry to be highly fragmented and exceedingly competitive. Single location restaurants experience heavy competition from other food service providers and directly compete with chain restaurants, fast food restaurants, hotels and other coffee and snack stores. For this reason, profit margins are generally low across the industry and operators rely on high product turnover to turn a profit. The average industry profit margin has increased over the past five years, along with demand. - ibisworld.com
The owner wants to retire.
Will train for 2 weeks @ no cost.
The restaurant features a full menu of hometown favorites including locally famous burgers, brick-oven handmade pizzas and delectable desserts. A full service bar with several large screen TVs and new seating areas. The new owner would need to understand the bar and restaurant industry, be able to manage employees (or hire a manager that will) and be eligible to take over existing licenses related to food and beverage sales.
$535,499 Down/ $59,501 for 60 mos. @ 7%.
If you own a business and are considering selling, visit our Sell a Business section. Limited Free Trial available.Sell Your Business