New York Style Pub and Restaurant
Asking Price: $175,000
Cash flow: $113,000
Location: Capital Region - Albany County
Summary Description
The business has an atmosphere and clientele similar to what was portrayed in the TV series, Cheers. The company takes great pride in what they term the three P-s; the best Product; a great Price; and large Portions. Lunch and Dinner are served daily and the Pub offers all forms of Lotto, including Quick Draw. The Pub also features live entertainment on the weekend; sponsors team trivia contests and always has a special on food and drinks to celebrate both major and minor holidays.
General Information
The eclectic menu includes numerous deli and specialty sandwiches, soups, salads and burgers. Dinner offerings include steaks, ribs, seafood and the traditional turkey dinner. In addition to the regular menu items, the restaurant also showcases certain ethnic offerings during the week. Monday features Bavarian cuisine, Tuesday is the popular Polish feast, Wednesday focuses on Italian specialties and Thursday is Chicken and Biscuits day, served during the cold weather season.
Year Established: 2006
Employees: 3 FT / 9 PT
Facilities: The total Pub and Restaurant footprint is 4,800 SF. Exclusive of bar seating, there is restaurant seating in the Pub area that will accommodate about 20 people. The dining area has seating for 36 and the outside patio has accommodations for 32. The restaurant and Pub are located on the first floor of a three-story brick building. There is a three bedroom apartment on each of the second and third floors, producing consistent rental income. The business is fortunate to have a large municipal parking lot adjacent to the facility and there is substantial street parking and other parking lots nearby.
The Real Property, which the business occupies, is also available for sale, with an asking price of $250,000.
Market Outlook
Competition: There is very little in the way of direct competition, locally. The majority of food vendors nearby are generally sandwich shops or Chinese takeout. The only restaurant in town is located in a historic building, offering an upscale menu with upscale prices.
Growth & Expansion: The business has the opportunity to tap into a large market segment that visits nearby attractions. An entertainment venue and specialty market draw people from a substantial geographic area. Distribution of flyers, menus or coupons to these patrons and keeping the kitchen open later on show nights would no doubt increase the pub's late night business for sandwiches and finger foods. With the weekend entertainment available at the Pub, late night clientele would most likely stay longer, for a few cocktails. With a little creativity, adding two extra hours of business per day is a real option. Another ten hours of business could bring in an additional $2,000 per week.
About the Sale
Financing: The owner would prefer cash at closing, but may consider some financing for a qualified buyer.
Support/Training: The current owner will stay on for a reasonable and negotiated transition period to train the new owner in all phases of the business operation and will be available on a consulting basis, thereafter.
Sale Objective: The age and general health of the current owner plus the realization that he is unable to devote enough time to enable the business to reach its full potential, have prompted him to sell the business.
Asking Price: $175,000
Cash flow: $113,000
Location: Capital Region - Albany County
Summary Description
The business has an atmosphere and clientele similar to what was portrayed in the TV series, Cheers. The company takes great pride in what they term the three P-s; the best Product; a great Price; and large Portions. Lunch and Dinner are served daily and the Pub offers all forms of Lotto, including Quick Draw. The Pub also features live entertainment on the weekend; sponsors team trivia contests and always has a special on food and drinks to celebrate both major and minor holidays.
General Information
The eclectic menu includes numerous deli and specialty sandwiches, soups, salads and burgers. Dinner offerings include steaks, ribs, seafood and the traditional turkey dinner. In addition to the regular menu items, the restaurant also showcases certain ethnic offerings during the week. Monday features Bavarian cuisine, Tuesday is the popular Polish feast, Wednesday focuses on Italian specialties and Thursday is Chicken and Biscuits day, served during the cold weather season.
Year Established: 2006
Employees: 3 FT / 9 PT
Facilities: The total Pub and Restaurant footprint is 4,800 SF. Exclusive of bar seating, there is restaurant seating in the Pub area that will accommodate about 20 people. The dining area has seating for 36 and the outside patio has accommodations for 32. The restaurant and Pub are located on the first floor of a three-story brick building. There is a three bedroom apartment on each of the second and third floors, producing consistent rental income. The business is fortunate to have a large municipal parking lot adjacent to the facility and there is substantial street parking and other parking lots nearby.
The Real Property, which the business occupies, is also available for sale, with an asking price of $250,000.
Market Outlook
Competition: There is very little in the way of direct competition, locally. The majority of food vendors nearby are generally sandwich shops or Chinese takeout. The only restaurant in town is located in a historic building, offering an upscale menu with upscale prices.
Growth & Expansion: The business has the opportunity to tap into a large market segment that visits nearby attractions. An entertainment venue and specialty market draw people from a substantial geographic area. Distribution of flyers, menus or coupons to these patrons and keeping the kitchen open later on show nights would no doubt increase the pub's late night business for sandwiches and finger foods. With the weekend entertainment available at the Pub, late night clientele would most likely stay longer, for a few cocktails. With a little creativity, adding two extra hours of business per day is a real option. Another ten hours of business could bring in an additional $2,000 per week.
About the Sale
Financing: The owner would prefer cash at closing, but may consider some financing for a qualified buyer.
Support/Training: The current owner will stay on for a reasonable and negotiated transition period to train the new owner in all phases of the business operation and will be available on a consulting basis, thereafter.
Sale Objective: The age and general health of the current owner plus the realization that he is unable to devote enough time to enable the business to reach its full potential, have prompted him to sell the business.
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