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Award Winning Restaurant

New Listing

Listing ID: 1182

Location

Halifax, Nova Scotia

Description

Local, trendy, and hip.......very few would suggest this operation is not an award winning bistro, while many will see all of their needs meet when it comes to acquiring the right operation. We welcome any discerning Buyer looking to add to their portfolio or an experienced Manager or Chef to step up. Any hands on engagement is sure to make a difference.

This offering has been a community favourite for many years, providing a solid leap off point for just one Buyer interested in taking ownership of a local jewel or stepping up their game.

A few highlights:
- Open just 43 hours per week.
- Lunch and Dinner services with weekend brunches in additional revenues.
- Seating for approximately 70 = an intimate experience for guests and staff, food is family.


Financial Information

Revenues have ranged from $925K to $1.03M over the past 4 years.
There is an additional $24K in rental income, which could also be increased.
Sales mix is approximately 23% alcohol and balance food and non-alcoholic beverage.
COGS are 32% and labour 31% in 2018.
Seller's Discretionary Earnings have ranged from $146K to $214K over the past 4 years.
There is an additional $50K+ available should a duo look to take over the operation, displacing a current staff member.



*Seller's Discretionary Earnings are the pretax and pre-interest profits before non-cash expenses, one owner's benefits, one time investments, and any non-related income or expenses. SDE may require that expenses be adjusted if a new owner will necessarily need to take on a new expense.

Minimum Equity Required

$150,000

Real Estate

Leased location:
- current lease is $5500/month until March 2020, increasing to $6000/month for the remaining 2 years, starting March 2020.
- a further 5 year option to renew is available
- all city services
- updated electrical, plumbing, and all.
The premises includes 3 rental apartments, one of which is a 2 bedroom unit currently used as an office.

Price

$379,000

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