Popular South Austin night club is becoming a favorite for both trendy locals and celebrities. After an initial failed concept featuring high end chefs, menu items, and a grocery/market. Original Million dollar space was gutted to add a wine bar with hundreds of wine and beer selections in 2008. Features over $1M in assets, very low lease rates, locked in for the next 10 years at a 38% discount to neighbors. Excellent for new or existing concepts. Seller is selling to focus on other multi-million dollar business.
| Listing No: MBFS-600805772 | |
| | |
| Category | : | Restaurants | SIC | : | 5812 | |
| Detail | : | American Restaurant | Price | : | 500,000 | |
| County | : | Travis | Down | : | 250,000 | |
| State/Prov | : | Texas | Adj Net | : | -311,592 | |
| Country | : | USA | Sales | : | 954,555 | |
| Reason for Sale | : | Focus on other business interests |
| General Location | : | Austin |
| Organization Type | : | Limited Corporation Hours Owner Works: 15 |
| | : | Years Established: 2.5 Years Owned: 1 Emp FT: 20 Emp PT: 0 Mgrs: 2 |
| Non Compete | : | Miles: 15 Years: 2 Weeks Training: 4 Cost: 0 |
| Operating dys/hrs | : | Mon 12p-9p, T-Th 8a-11p, Fri-Sat 8a-11p, Sun 10a-7p |
| Skills/Licenses | : | General management & operations |
| Business is | : | Relocatable: N Home Based: N Franchise: N Lender P/Q: N |
A Dozen Due Diligence issues with Restaurants for Sale in Texas
In addition to financial matters, a buyer interested in a restaurant or night club for sale in Texas should consider discussing many of the following issues with the restaurant owner or their business broker:
Is this business opportunity Full Service or Quick service?
There are currently about an equal number of each.
How is the menu maintained?
As discretionary spending changes, consumer spending at restaurants change, they will tend to eat out as much; however, they may spend more or less.
How is the staff recruited and maintained?
Rising competition from food and convenience stores are a problem for restaurants.
How can the restaurant reduce labor costs?
This may be the largest cost variable under management’s control.
What would attract more affluent customers?
This is the most desirable sector of the local market to attract
Can the Internet benefit the restaurant?
Internet services available to restaurants and night clubs include their items for sale, online reservations, ordering take-out, and directions to the restaurant location.
What seasonality might be expected for sales?
Many restaurants’ revenues are driven by regional sales cycles.
Is alcohol served?
A Texas Alcoholic Beverage Commission permit will be required for the night club.
How are workers hired and trained?
Critical in this labor-intensive industry, labor issues include safety training as well as any problems with undocumented workers.
What is the advertising budget?
Seeing 4% to 6% of restaurant sales is quite normal
Are there any customer loyalty programs?
Earned discount programs, civic group meeting areas, and specialty cooking classes all help to build a loyal customer following.
What is the health inspection record?
Texas counties will issue regular inspection reports. A clean inspection history is a sign of a well-managed restaurant.
Resources for Texas Restaurants for sale
National Restaurant Association
Texas Restaurant Association
How to Conduct Market Research (SBA)
Frequent Questions about Texas Sales Tax
Confidentiality Policy
As business brokers, we protect the identities of the businesses, the business owners and prospective buyers until we receive completed, signed Confidentiality Agreements and personal or corporate financial statements providing proof of the buyer’s financial competence to meet the down payment. We understand that the sale and purchase of businesses must be held in the strictest confidence to give the involved principals the opportunity to advise employees, customers and others of the transfer when they feel the time is appropriate
For additional information contact Bob Fariss
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