Profile: Mexican Restaurant, With Full Bar, In Prime Location.
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Ad/Listing Information
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Contact Information |
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| Seller Or Contact: |
Jose Bravo, Broker
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| Primary Phone: |
858-391-3388 |
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| Alternate Phone: |
None Given |
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| Email Address: |
Email This Advertiser |
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| Date Started: |
8/1/08 |
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| Date Last Revised: |
8/4/08 |
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| BizBen Ad #: |
126985 |
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| Financial Information |
Detailed Information |
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| Asking Price: |
$275,000 |
| Down Payment: |
$275,000 |
| Annual Revenue: |
$546,703 |
| Annual Adjusted Net: |
$89,065 |
| Price Range: |
$250,001 to $500,000 |
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| Franchise: |
No |
| Relocatable: |
No |
| Home Based: |
No |
| Real Estate Included: |
No |
| Bkr To Bkr Coop: |
Call |
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Description:
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Summary
Location, Location, Location! For A Restaurant, It's All About The Location. Located In Historic Old Town San Diego, This Restaurant Is A Moneymaker, Even In This Recession. It Is Part Of An Exclusive And Elite Club Of Restaurants That Are Located In What May Well Be The Best Spot For A Mexican Restaurant In All Of Southern California. You Simply Cannot Visit Old Town San Diego Without Eating At A Mexican Restaurant. This Full Service Restaurant With A 47-Type Liquor License Offers Traditional And Original Mexican Food. The Facility Is Approximately 3,600 Sq Ft. With Two Outdoor Patios And An Indoor Dining Room. The Equipment Is In Top Condition. An Attractive Lease And Plenty Of Parking Complement The Many Strengths This Restaurant Has To Offer.
Marketing
Current Owner Does Not Have A Marketing Plan In Place. He Relies Mostly On Tourists And Foot Traffic. According To Owner, Sales Could Increase Even More If The Proper Advertising Campaign Is Undertaken.
Strengths & Opportunities
Location, Location, Location; Reasonable Rent For Area; Turnkey Operation; Parking; Low Overhead Compared To Similar Businesses; Liquor License Included In Price; One Block Away From Old Town Ave., The Main Street.
Hours & Staffing
Hours Of Operation Are 11 Am-10 PM 7 Days A Week. Liquor License Allows For The Sale Of Alcohol Until Midnight, 7 Days A Week. Along With The Working Owner And His Wife, There Are 3 Part Time Kitchen Employees And 3 Part Time Servers. Employees Are Paid 8/Hr. Plus Tips.
Area, Facilities & Equipment
The Restaurant Is Located In Old Town San Diego, The So Called Birth Place Of California. The Area Is Reminiscent Of California In The Late 1800’s And Early Part Of The 1900’s. Some Of The Buildings In The Area Date To That Time And Have Been Well Maintained And Preserved Throughout The Years. Old Town Is San Diego’s #1 Tourist Attraction And Enjoys Visitors Year Round. It Is Centrally Located Less Than 5 Minutes From Downtown San Diego.
Company History
This Business Has Been A Mexican Restaurant Since March Of 2004. Prior To This, It Had Been A Chinese Restaurant For Many Years. Current Owner Bought The Chinese Restaurant In 2004 And Made All The Necessary Changes Needed To Transform Into A Mexican Restaurant. Current Owner Owned And Operated A Similar Type Restaurant In His Native Mexico Before Coming To The U.S. In 2004.
Financial Summary
Since The Restaurant Was Opened From Scratch On March 2004, The Business Did Not See A Profit Until 2006, Due Mostly To Revenues Taking Time To Materialize As More And More People New About Its Existence. Most Of The Small Profits Generated In The Early Months, If Any, Were Pumped Right Back Into The Business In The Form Of Additional Tenant Improvements And Equipment Upgrades. It Wasn’t Until 2006 That Revenues Had Increased Enough To Surpass The Break-Even Point.
Other Comments
This Is One Of The Better Deals For A Restaurant In San Diego County. The Best Location, Old Town San Diego, Reasonable Rent, Money Maker, Full Bar, All This For Only 275,000.
In A Normal, Growing Economy, This Restaurant Could Easily Be Worth 500,000 Or More. The Time To Buy Is Now. It’s A Buyer’s Market!
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For More Info Call: (Please Mention You Saw This Ad On BizBen):
Jose Bravo, Broker at 858-391-3388 Non Disclosure Agreement |
Business For Sale Photos
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