Listing Number: 2401-477977
Highly successful and growing Soul Food Restaurant and Catering Business, North County Coastal San Diego. Three complementary revenue streams bring about $2,200,000 Gross and $350,000 SDE in 2018. Two locations. The 2758 sqft catering facility and brew pub counter service are wrapping up 1st year of operation, now at break even and ramping well with on-going contracts. The catering facility can support up to 4000 guests, the brew pub seats 97 inside. The approx. 1800 sqft restaurant seats 67. Well established since 2012 and very popular. It’s a busy eatery with a frequent wait list.
Executive Chef and Hospitality veterans launched their concept after decades of industry experience with top establishments. They have built a strong team of 29 professionals including management and executive chef who are full-time except the servers. The food and bevies are fantastic from the ribs, pulled pork or waffles to “bloody” or craft beer. Atmosphere is rustic and upbeat. Prices are reasonable. They have a data base of over 10,000 patrons and terrific on-line reviews. In great locations and embedded in the community the business is active in charity and other events.
The coastal area is well into a massive revitalization plan with new apartment, mixed use buildings, and resorts bringing residents and tourists, many new retail and entertainment venues, and community events like a weekly farmers market and street fair.
Built for repeatability and scale, the concept and business is expansion or franchise ready for an ambitious buyer. Books and records are clean and comprehensive, including projections. Everything is documented!
Sellers are moving out of state for family reasons. Wonderful opportunity for the right buyer to take it to the next level. Offered at $1,100,000.
- Price: $1,100,000
- Down Payment: $600,000
- Sellers Discretionary Earnings: $350,000
- Total Sales: $2,200,000
- Location: San Diego County, California
- Inventory: $0
- FF&E: $259,000
- Employees: 29
- Year Established: 2010
- Reason for Selling: Moving
- Category: Restaurants