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MegaBite Restaurant Brokers LLC offers, for your ownership consideration, a well-established, full-service absentee-owned South Indian restaurant offering delicious Indian dishes (vegetarian and non-vegetarian) in the high growth North Plano/Frisco corridor. The local community is experiencing rapid expansion with the addition of corporations such as Toyota North America (~2,000,000 SF), Liberty Mutual (~1,000,000 SF & ~4,000 ee’s) FedEx Office, Jamba Juice…). The owner describes the business as being located near high volume anchors and in a densely populated Indian community. The restaurant is well-rated on Social Media with BYOB, a la carte and buffet options, in a modern contemporary setting. To go, delivery and catering provide a well-rounded offering with much more room to grow. The loyal and dedicated customer base comes from two distinct groups: nearby businesses and local residences. The business is located along a high traffic major thoroughfare with easy access.
The seller finished out the new construction lease space and opened July 2017 with a total investment $400,000. The restaurant quickly developed a loyal and dedicated following; the owner estimates that 75% of the client base is repeat. Banquets and catering generate ~15% of monthly sales. Known for its consistent and quality food, the restaurant offers a lunch buffet and dinner menu service. The restaurant has many growth opportunities and is well-located in the high-growth North Plano - Frisco corridor.
The owner feels that a major advantage over competitors is the seniority and experience of their employees. The owner states that the kitchen team are professional, well-experienced and are a major asset to the company. The customers are happy with the service and food. The Seller expects that all employees are willing to stay if desired by a new owner. The owner feels that he can be replaced by an experienced restaurant operator. The owner states that the landlord will offer a long-term lease plus renewal options to a qualified tenant. The owner states that the business has Excellent books and records.
The asking price for the assets of the business $150,00 All cash or $200,000 with $125,000 cash down plus $75,000 seller financing to a purchaser qualified and approved by the Seller. The seller prefers to sell for all cash. The assets include inventory at cost of $4,000 and Furniture, Fixtures and Equipment valued at $128,000.
Note: The sale of a business is confidential and discreet; Please do not visit the business or speak with any employees. We know about many businesses that are for sale but might not be advertised. Check out www.megabaite-rb.com for more information and consider registering your criteria as a purchaser.
Keywords: restaurant, food, vegetarian Catering, biryani, biriyani Indian recipe, curry, south north cuisine spice spicy seasonings Asian Chinese Tandoori lamb goat mutton chili Tikka Masala Kofta Kabab Bhuna kashmiri Sell my Indian Restaurant For Sale
The restaurant consists of ~3,750+/- SF offering inside seating for 105. The floorplan consists of large open dining areas, large open buffet serving area, large open fully-equipped kitchen-prep area, 13’ & 20’ ventahoods, office, dry storage, restrooms, walk-in freezer 14x9, walk-in cooler 6x9. Facility is leased for $8,750/mo +NNN. The Seller believes that the landlord will offer a long-term lease plus renewal options to a qualified tenant. An expansion area could possibly be used as a patio for outside seating.
8750.00 + NNN per annum
in the high growth North Plano/Frisco corridor. The local community is experiencing rapid expansion with the addition of corporations such as Toyota North America (~2,000,000 SF), Liberty Mutual (~1,000,000 SF & ~4,000 ee’s) FedEx Office, Jamba Juice…).
This is a strong location with high volume and excellent potential. A new experienced food-service owner-operator can continue to grow the business and profits in several ways including 1) hand-on owner management to improve service, 2) continuing the current marketing-loyalty program, 3) social media marketing including Facebook, Yelp, email, inhouse loyalty etc to 2000+ followers, 4) email marketing, 4) expand catering, 5) add patio, 6) reduce food & packaging cost, 7) expand current hours, 8) obtain mixed beverage permit.
The food service industry is very competitive, and this Indian restaurant is no exception. The local market has a range from small local mom & pop’s to large international food chains including fast casual, quick service and full-service Indian restaurants. However, the Owner feels that no area restaurant bar offers the food quality, atmosphere, growth opportunity, capacity and sheer enjoyment of this business.
Relocation – other business interests
The seller wishes to ensure a seamless transition with a purchaser and will train a buyer for up to 2 weeks included in the purchase price. The seller is willing to remain for a longer period of time, in a consulting role, if desired by a purchaser, at mutually agreed compensation.
Price 150k cash or $200k with $125k down and $75k SF
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