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Chinese Buffet Restaurant
This is a free standing Chinese restaurant with seating for 85 customers located on a major street near Intercontinental Airport and Beltway 8 in Houston open 7 days per week from 11 AM to 9 PM. They offer a buffet style line with a large variety of food items including soups, kimchi, shrimp boil, teriyaki pork ribs, broccoli & Mongolian beef, bourbon chicken, snow shrimp, & a variety of vegetables. Approximately 80% of the business is takeout or delivery. Seller is willing to train and provide seller financing.
Listed By: Jeffrey Jones
Background information
Reference:
82500
Year established:
12/21
Reason selling:
He wants to open a restaurant near his home in the Katy area.
Finance
Sales:
$1,139,999
Profits:
$155,936
Profit type:
Discretionary Earnings
Operations
Employees:
7 plus owner
Inventory:
3,000 Food & Beverage
Premises
Facility:
This is a free standing building with a large kitchen and dining room.
Square footage:
2953
Rent and lease terms:
Gross rent is $9,700 PM fpr 10 years plus a 5 year option to renew at the then market rate.
Location:
Near Intercontinental Airport & Beltway 8.
Opportunities
Growth:
Could add beer, wine & mixed drinks.
Market:
Greenspoint/Intercontinental area.
Price and terms
Price:
$300,000
Down payment:
$150,000
Financing:
$150,000 cash down & Seller Note for $150,000 for 5 years at 6% interest = $2,899.92 P/M.
Training:
As needed