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Profitable Fine Dining Restaurant & Historic Wedding Venue Business


Established & successful restaurant (25 years) & wedding banquet facility with strong cash flow and rapidly growing sales thru 2019. Interim performance in 2020 remains solid despite the economic effects of COVID in the local market. Excellent location, reputation and goodwill drove unprecedented levels of earnings in 2019- and continue to reinforce new revenue streams and progressive business systems. The owners have done an amazing job capitalizing on takeout and delivery by taking direct orders via website, phone, UberEats, and DoorDash. This is a rare opportunity to own a unique restaurant & wedding venue, with the owners adapting and insulating the operation for future performance and growth of profitability.

Current seating capacity includes indoor dining for 150 and an outdoor dining area fully covered/ heated/ cooled for up to 150. The Five Star Wedding venue can accommodate up to 250 guests and represents the fastest growing segment of the business. Given that outdoor dining income has tripled in response to COVID, plans are underway to expand the outside covered area allowing for a substantial increase in wedding and banquet size. By following all safety guidelines, the restaurant's repeat clientele views it as "safe" and enjoys a sense of comfort and security. The accolades from customers continue to pour in from recent dining experiences.

The historic building has been maintained with a new roof in 2016, new electric in 2017, and updated plumbing- altogether comprising over $100K in capital improvements over the last three years. Two full kitchens with new equipment, walk-in cooler, walk-in freezer, four storage sheds, and a highly trained and seasoned staff rounds out this turnkey operation. With the addition of several new talents, the staff in place is as solid as ever. Currently, all inside tables are being replaced with beautiful oak tabletops to aid in sanitizing and to save the costs of linen. Business assets also include a food trailer for off-site catering and local festivals.

With ample parking and proximity to a daily traffic count of over 40,000 vehicles, there are so many ways to grow this business by expanding hours, more utilization of the outdoor dining area, adding Sunday Brunch, etc.

(If you have a catering and/or wedding business and a passion for fine dining this is a must see! Take it to the next level and do it all in one unique destination venue).
NDA required.

Highlights:
• Strong & growing location - 10k homes to be built in next 4 years/ Brand new hospital
• Unprecedented sales and earnings potential
• Busy year-round with locals
• Great tourist dining destination, very busy summers
• Turn-key operation with multiple revenue streams
• Excellent reputation and customer goodwill in place
• Large banquet facility with ample room to grow

*Real Estate not included.



Listed By: Senthil Kumar

Background information

Reference:

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Year established:

1994

Reason selling:

Owners retiring. *OWNERS WELCOME ALL INTERESTED PARTIES TO TAKE A TOUR AND TALK*

Finance

Sales:

$12,070,000

EBITDA:

$312,000

Operations

Employees:

22

Equipment:

Included in asking price $150,000

Inventory:

Not included in asking price

Premises

Facility:

Unique, historical building is 5,500 sq ft. and has been exceptionally maintained- new roof, updated/new electric, updated plumbing, new equipment, and more. Outdoor covered seating is approx. 2,000 sq ft. with plans for expansion. Plenty of parking for large events with proximity to high daily traffic count of over 40,000. Sale includes approximately $150K of FFE (Owner will remove personal items). Business for sale with NNN Lease.

Location:

Horry County, SC

Opportunities

Growth:

Growing area with 11,000 new home sites approved to build in next few years. Many new homes currently being built in the area with a huge new hospital now open. Growing to be a large medical community. Operating schedule could easily be expanded to open for lunch and Sunday Brunch. Many more opportunities in catering especially to the medical community. In 2018, Banquet/wedding sales jumped by $100K, or 364% year-over-year, with projected growth pushing 30% in the current year. This is the fastest growing segment in the business.

Price and terms

Price:

$749,000

Down payment:

$10,000

Financing:

*This business is pre-approved for SBA financing, for qualified buyers, 10% down.

Training:

Owner will assist with smooth transition as negotiated.