Ad ID: 1445483
Type: Established business
Included in the Asking Price:
Furniture, Fixtures & Equipment: $88,000
NOT Included in the Asking Price:
Cash Flow: $355,001
This is a unique opportunity to own one of the most popular Chinese restaurants in Northern Nevada. Multiple sources of revenue include Chinese food, a sushi bar, a wet bar, and a dance hall/banquet facility. This 10-year business has an excellent reputation, and they are an integral part of the community. An ideal central location draws large lunch and dinner crowds. They do a strong lunch and dinner take-out business as well, and the delivery component is very consistent. The restaurant seats over 100 and the banquet hall over 150. No cookie-cutter decorations here–all art is custom and will stay with the business. Easy-to-navigate website and excellent reviews on social media. They enjoy a solid repeat business from locals as well as from business groups that consistently visit the area. The catering component of the business draws luncheons, meetings, banquets, parties, and shows. The facility boasts two private offices, an attic and basement for storage, and an on-site living space. The establishment is clean and well maintained and includes a 24/7 camera system. Lights, warmers, signs, heat, etc. are on timers, so everything’s ready upon arrival. Additionally, there’s a POS system at five stations. With a full staff in place, including three experienced managers, and long-standing relationships with service techs and vendors, this restaurant is absolutely turnkey. The business enjoys very little competition, and the Owner is totally committed to the Buyer’s success, his employees, and the community he serves. Business is pre-approved for Financing via a Small Business Administration loan.
Year Established: 2007
Facilities: Ideal central location. Over 5,000 sf, not including large basement and attic. Clean and well kept up by Owner. On-site living space. Lots of parking.
Competition: For over a decade, this award-winning restaurant has been known for its excellent food, great customer service, and reasonable prices. They have long-established relationships with vendors and service technicians. They have a solid repeat take-out and catering component as well as a loyal customer base.
Growth and Expansion: A new owner could grow the business by expanding off-site catering, promoting the bar with happy hour and food/drink specials, and expanding hours. The banquet hall space could be promoted for additional events and weekly classes (e.g. art, yoga, tai chi, etc.).
About the Sale
Financing: Seller will carry with an SBA Loan Package. SBA pre-approved.
Support/Training: 1 month
Reason Selling: Spend more time with family.