Asian Food Buffet & Banquet Facility w/Mongolian BBQ San Bernardino

Location: California, United States
Category: Food and Beverage
Type: Established

Financials

Asking Price: $330,000
Cash flow: $200,000
Revenue: Not Disclosed
Gross Income: $1,000,000
Inventory: Not Disclosed
FF&E Not Disclosed
Real Estate: Not Disclosed

Business Details

This giant San Bernardino County buffet and banquet facility serves buffet style dishes from all over Asia Chinese, Japanese, Korean and delicious Mongolian BBQ! The buffet is housed in a specious 9,200 sq. ft. facility set up with 3 separate rooms a 100 person dining room, and a newly renovated 120 person banquet room with a beer and wine bar and dance floor ideal for wedding receptions, corporate events, karaoke, and other late night entertainment, and an adjacent 70 person private dining room ideal for large tour groups, seminars or corporate events. The well established business does over $1 ml in revenues from the buffet s lunch and dinner business alone, only capitalizing on 1/3 of the facilities available floor space! This business is priced at $390,000 to ensure a quick sale, however, the owner recently invested $250,000 in renovations. As such, he will seek closer to $490,000 shall a buyer seek a prolonged escrow, or many terms in the sale.

Facilities:
The 9,200 sq. ft. facility leases for $ 14,300 per mo. (incl. CAM) with a lease until 2009, and 2 five year options. The sale includes a type 41 Beer and Wine license, a giant 12 x 12 (or larger) walk in cooler and walk in freezer, 7 woks, 3 deep fryers, a full oven/stove, and a 4 foot wide Mongolian BBQ Grill. Naturally, the sale also includes all necessary furniture, fixtures, equipment, buffet tables, tables, chairs, linens, etc. to accommodate 190 patrons.

Financing:
Not Offered, but may consider

Support:
Owner will train for 2 weeks at 20 hours per week.

Competition:
This restaurant is considered the only full service local buffet and banquet facility in its immediate vicinity.

Growth:
New owners may seek to capitalize on the facility s bar, and its beer and wine license, sound and lighting system, dance floor etc. by utilizing the banquet room for evening entertainment and promotions. New management will also likely seek to cater to the highly lucrative bar-mitzvah, wedding reception, or corporate events crowd, or to evaluate modifying the menu to include alternate food concepts, or to convert the whole facility to a new concept.

General Information

Reason Selling: Personal

Number of Employees: 11
Year Established: 2000