This absentee run Newport Beach area market with off-site liquor sales boasts a full kitchen for its quick service food operation. The market commands one of the area's most prestigious locations and is poised for an active owner-operator to take all three of the enterprise's different components in any number of directions.
This 5,000 square foot venue leases for $6,300 per month on a lease until 2027. A buyer should not anticipate that any options will be granted in the sale. $75,000 - $100,000 in retail inventory will be sold at cost at close in addition to purchase price.
This market and quick service restaurant is slightly insulated from direct competition in its immediate vicinity. This gives rise to the opportunities a new owner has to grow the business, while threats from industry entrants and new competition remain limited.
New management may capitalize on this venue's unique location and onsite kitchen by relaunching the food concept with a menu that caters to local residents as well as the bustling tourist market. A delivery service could also be an excellent offering for the affluent, local clientele. In fact, given the venue's size a full-scale catering operation may be launched from the location. Management may do the same with the venue's beer, wine and liquor selection so they would not only cater to tourists with standard preferences but also to neighborhood aficionados who may prefer upscale options. Finally, the market's inventory offering can be revisited to cater to any unmet market needs. Of course the market can provide its patrons their favorite items, but it can potentially develop a loyal following in new specialty product segments.