Profitable Asian Restaurant Great East LA Location

Listing Number: 71701-920839

Description

Profitable Malaysian Restaurant With Good Growth Potential
Annual Cashflow Net $61,335 Listing Price To Sell at $95,000 Assets Included $91,500
Priced Like an Asset Based Sale But With Current Annual Net Cashflow!
There’s a reason the late celebrity Chef, Anthony Bourdain has visited this place to have dinner while traveling. Penang restaurant has an authentic Malaysia cuisine experience that pays tribute to its roots in New York City and the great reputation built on that name in other major markets throughout the USA. This location was established in 2001 by the original owner who also had a location in Las Vegas. It’s current online ratings on Yelp, Google and other online portals average 4 Stars with over 500 reviews issued. The restaurant makes good net cashflow and has good upside to grow.
Penang is located within a very busy, Asian oriented strip center with easy access from major routes and is anchored by high-traffic generating retail. The kitchen is very spacious and laid out very nicely, and the furniture and equipment (in very good condition) includes a monster hood system usually only found in much larger restaurants. The buildout and design presents an appealing look and it’s 3,000 square feet is capable of seating 120 indoor diners. A good lease is in place and a new owner will be able to get a solid lease commitment from landlord.
The current owner has family commitments that require family relocation to Orange County. The Seller has a reliable team of employees in place who would be likely to stay on with a new owner if offered comparable terms to their current roles, including experienced full-time and part-time chefs who can ensure continuity of menu recipes and 3 wait staff. There are opportunities to grow this business via proactive advertising, guerilla marketing, and adding increased direct delivery options. Strong and growing online ordering alliances are in place with GrubHub, Ubereats, Postmates, and Orderhero.
Seller will consider some financing for a qualified applicant. Contact our office today to learn more.

Listing Details

  • Price: $95,000
  • Down Payment: $50,000
  • Sellers Discretionary Earnings: $61,335
  • Total Sales: $365,140
  • Location: Los Angeles County, California

  • Inventory: $1,500
  • FF&E: $35,000
  • Employees: 4
  • Year Established: 2001
  • Reason for Selling: Other Interests- Relocation
  • Category: Restaurants
Profitable Asian Restaurant Great East LA Location

Business Listed By:

Stephen Menges