Listing Number: 9525-229034
Description
Don't miss this opportunity to acquire a very successful fresh seafood retailer with a full-service restaurant. This family has been in the seafood business for over 60 years and built a very successful brand. When the son of the owner started his own restaurant, he brought all the family knowledge and connections into his business.
The business comes complete with a late model, custom made, refrigerated seafood truck, that is used to pick up fresh goods from established providers on the eastern shore. The retail store offers take-out with a wide array of sea fare such as: oysters, crab, clams, mussels, shrimp, scallops, and a variety of fresh fish. There is also a selection of daily made sides and salads. The low cost of goods would allow for expansion into mobile (pop-up) sales or wholesale to local restaurants, but the Seller has not needed to pursue this marketing strategy.
The retail store and restaurant were moved a few years ago into a completely remolded free standing building with new HVAC, electrical, plumbing, and ample parking. All of the restaurant equipment is almost new including full-service seating for 20 -30 patrons, Take-out and third-party delivery account for a large portion of restaurant sales.
There are approximately 12 -14 part time employees who will stay, some of whom have been with the Seller since opening. The Seller and his wife work a standard 30-hour schedule, Less out of season and more during peak season. The Seller is retiring to look after his real estate and other investments.
The Seller is open to a fractional sale to a well-financed operator, who would engage him to stay for a few more years as part of a dynamic team with plans to expand the business through franchising or acquisition. The Seller is offering six months free rent upon Seller's final approval of a Purchase Agreement.
Listing Details
- Price: $829,000
- Down Payment: $829,000
- Sellers Discretionary Earnings: $400,000
- Total Sales: $1,326,614
- Location: Withdrawn, West Virginia
- Inventory: $0
- FF&E: $370,000
- Employees: 14
- Year Established: 2012
- Reason for Selling: Other business interest
- Category: Restaurants
