Contact: Nour Mattar At 949-243-4988 - Also Email This Contact Below
Asking Price: $1,499,000 Down Payment: Call / Email
Annual SDC: $585,026
Annual Gross: $2,938,030
Business Address: None Given City: Los Angeles Zip: 90027
Attributes: Broker-Broker Coop, Training & Support, For Sale By Owner, SBA Loan Pre-Qualified
This iconic Los Angeles restaurant, bar, and bakery is located in the heart of a pedestrian-friendly area, world-famous for its boutiques, coffee shops, restaurants, theaters, and bars, and just a few minutes walk to two of LA's most-recognized hotspots.
The restaurant has a high capacity kitchen, including two hoods, dual 6-burner stovetops, and plentiful storage - it comes equipped with two big walk-in refrigerators and one large walk-in freezer. Exit out the back of the kitchen, and you're just footsteps away from the separate building that includes the employee breakroom and employee bathroom, management office, but most importantly, ample dry goods and liquor storage (lockable). This frees up kitchen space for production. The restaurant serves all shifts: croissants, french toast, and omelettes in the morning, sandwiches and salads for lunch, and fine french dining for dinner. Plus, they have a thriving happy hour.
The restaurant is well organized to handle the crowd. The dining room is arranged into 3 different seating areas, each with a different vibe: there's bar seating, a bar-adjacent area, and a dining room removed from the action. You can easily host an event without disturbing the other guests. Plus, there is permitted outdoor seating to enjoy the SoCal sun. The restaurant 's entrance make a great retail space - their pastries are on display right next to the coffee and espresso, which customers grab to-go, all without leaving the reception area or bothering dining patrons.
Location, Location, Location!
The restaurant is practically an LA institution, it's been in this location since the 1930s. Many of the dining establishments in the area are known for celebrity sightings, and it's not unusual to see film crews at work or paparazzi hanging around. This is also the spot where late-night diners eat when everything else is closed. In addition to their dining revenue, The restaurant generates an additional $50k-$100K income annually from some of the biggest studios and stars, including HBO and Netflix who film at the restaurant!
The location doesn't get much better than this; the surrounding area is filled with patrons with disposable income to spend on their favorite local restaurant. One of LA's largest medical hubs is only a half mile away, and a huge number of doctors, nurses, and medical staff work there. The hub consists of three major hospitals. as well as a big cluster of adjacent medical buildings and clinics, all within a one-mile radius.
The surrounding neighborhoods are packed with businesses, tourist traffic, commercial buildings, professional companies, and movie studios. Hollywood and Sunset Blvd are major tourist attractions, known for their attractions, sightseeing, and nightlife. The area draws substantial foot traffic, and is alongside major venues. The Hollywood Walk of Fame is stacked with hotels, film studios, and commercial buildings. The clientele and disposable income in this part of town is primed for growth.
Great Foundation for Growth
The restaurant grossed $3 million in 2019 and has averaged 200K per month through COVID. Their revenue is based on their longevity, great location, client base and reputation: it all happens with zero marketing or community engagement.
Take the restaurant to the next level with strong, consistent traditional and digital advertising. The area is dense with companies, busy professionals, the medical center, and high-income residents, all catering customers. However, restaurant lacks a formal catering program! Their 58 license allows them to cater events offsite, and their 77 license allows them to hold events adjacent to the property. Parties, private events, industry gatherings, movie shoots: there is massive potential in the high income demographic in just the 5 miles surrounding the restaurant, & their kitchen is equipped to handle it!!
The restaurant is current a family run affair, and the owner has health issues and can no longer operate the business effectively. This is a rare opportunity for an experienced restaurateur to step into a unique location, with great revenue and profit, and grow it to the limits of their talent and capacity. Please be aware that only financially qualified, experienced Buyers will be considered for this opportunity. If that is you, here's your chance to own an iconic French restaurant in the heart of the City of Angels. It simply doesn't get better than this, call the Agent today!
**SBA pre-approved with 10-20% down payment for qualified buyers. Take advantage of historically low-interest rates and incentives. The SBA will make your first six payments and waive the guaranty fee ($30,000 for every $1 million borrowed). Must act fast: incentives expire on September 30, 2021, or until funds are exhausted.**
To get more information about this Restaurant, Bar, And Bakery- Famous, High Grossing business for sale in
Los Angeles Area please phone Nour Mattar (Agent - BRE License #:01995928) at 949-243-4988 - if you get
voicemail please leave a detailed message - make sure you mention you
saw this posting/ad #266075 on BizBen.com. In addition to phoning
Nour Mattar, make sure you email Nour Mattar above to get more info about this
Restaurant, Bar, And Bakery- Famous, High Grossing, to ask any questions or request an appointment to see this
business for sale. Thank you.