The 2019 revenues were 590,996 with normally adjusted earnings of 197,758 which were in line with the continuation of previous year’s growth on both the top and bottom lines. Specifically, they did 495K revenues w/ 122K earnings in 2017, 546K revenues and 173K earnings in 2018, 590K revenues and 197K in 2019 Further proof is that the restaurant had higher revenues by 22K in January and February of 2020 than in 2019 indicating that they would have likely continued their consistent growth in 2020 if Covid hadn’t happened. Current growth for 2021, is not at full potential due to limited spaced seating restrictions (75 %) still in place for Covid.
You also get approximately 60K in Assets Debt Free! This is mostly large pieces of equipment at their current value. The total assets also include furniture and fixtures.
The restaurant has always made money and is only open from 6AM to 2PM 6 days a week. In 1995, they tried being open for dinner(without a liquor license) and it worked so well that they stopped doing it for quality of life reasons(young kids). In short, if a buyer wants to make a lot more money all they have to do is get a liquor license and open for dinner also, or add catering which is a need for the area and requested often by the current clientele. They are happy with the money that they have always made from the restaurant and like closing at 2PM and being home every day by 3PM to 4PM, making normal family life possible. They are closed on Mondays and always have been.
This one is a high profit margin restaurant without a liquor license and very normal hours of operation. Their properly adjusted earnings are averaging a properly adjusted total benefit to the owner(profit) of more than 30% per year. A 30% profit margin is very good for a restaurant. This is due to the recurring benefit from “regulars”, a growing area and growing traffic, a location right on the busiest street in town across from the town’s #1 tourist attraction. They also just raised their prices in early March of 2021 which they do every year, and it has never been an issue for demand.
It is a happy and fun place to work and fun to own. They are selling because she has to move for health reasons. The real estate is for sale also and is a great opportunity to add to the new owners net worth both through the principle payments but also the predictable appreciation in value. Two great things about the property, first, the location, in the heart of town, and second, a large enough parking lot to accommodate the business. The more you learn about this opportunity, the more you will like it.
This is a “Fun” business to own and has loyal and long term employees and customers. Many long-standing loyal local customers which has resulted in a high percentage of frequent recurring business! This business can be improved but doesn’t have to be, it makes a lot of money right now. The Sellers believe that the new owner should keep most of their menu, with whatever additions a new owner would like to add. The best part about owning your own independent restaurant, is that you are not beholden to anyone else’s ideas or requirements. You can tailor your menu/hours to your community and customers. As a rule of thumb, the current owners never pick a menu item and discount it for a daily special, but instead always create a special new item. This has been a very successful tool to test the waters and see what new items could be added to the menu at a future date. You can add specials and take advantage of the wonderful and unique events held year round, that there is always something special happening that can be turned into an additional money maker for the restaurant. The possibilities for expansion are endless, and only limited by your imagination!
If you want to leave the rat race behind, and thrive in a small mountain community, then this opportunity is for you.
Location: Best Town in Teller County, CO