Highly Profitable Iconic Restaurant in West LA

Highly profitable Iconic Restaurant located in a prime area of West Los Angeles on a major street. This upscale and traditional restaurant has been in business for over 30 years and offers indoor and outdoor dining. Its menu and impressive wine collection are highly rated by long-term loyal customers and attracts Foodies from all over. This restaurant is known for its strong customer base and “regulars” who frequent the restaurant on a consistent basis. This turnkey restaurant has had consistent year after year increases in gross revenues with Pre-Covid revenues in excess of $2M. Gross revenue in 2017 – 2019 ranged from $2.2M - $2.6M with cash flow ranging from $823K - $1.1M. Since May 2021 when indoor dining resumed, the restaurant experienced month after month increases in gross revenues. The monthly average gross revenue since May 2021 ranges from $215k to $255k per month making these monthly revenues consistent with 2019 when the restaurant grossed over $2.6M for the year and the cash flow was over $1M. 2021 overall gross revenue is approximately $2.5M with over $900K+ in cash flow, even with the restaurant having limited seating capacity for the first 4 months in 2021. Given that this restaurant has the flexibility to provide significant outdoor, heated seating under a tent, puts this restaurant in a unique and strong position to deal with Covid or any future issues. This flexibility with this location has been determined to be significant in order to maintain strong revenue and cash flow compared to other locations that have struggled due to limited flexibility. This highly sought-after restaurant is a unique opportunity for an industry buyer as the sellers are looking to retire. The purchase price includes $60,000 of active inventory at cost. Any inventory over $60,000 at cost will be available to purchase. The landlord is willing to provide a reasonable, long-term lease agreement at below-market rent for the first few years. Seller will provide necessary training based on the Buyer’s needs. Loyal, long-term staff (front of the house and back) is in place. The business has excellent books and records and tax returns with very few add-backs. The business qualifies for SBA finance with 10-15% down for a well-qualified, industry Buyer. Please note this is a highly confidential matter and no additional information will be provided until a Confidentiality Agreement and background information has been submitted. Please hit the reply button or the Contact Seller button or email Matt at info@mabusinessadvisors.com or call (818) 999-9621 to receive a confidentiality agreement and to learn more about this opportunity. Location: Los Angeles County, California Year Established: 1982 Number of Employees: 23 Facilities: Excellent building and floorplan with the flexibility to offer outdoor seating in a heated tent area. This has proven to be significant during Covid. Market Outlook/ Competition: Impressive, loyal customer base Growth & Expansion: Several growth opportunities that the seller will discuss with a qualified buyer.