Chester, VA (Chesterfield County)
Business Description
Incredible Opportunity Turn Key Restaurant Chester Va
Before you is an incredible opportunity to purchase a highly profitable, well-regarded steakhouse with a loyal following. Featuring the highest-quality cuts of meat, fresh seafood, signature appetizers, and decadent desserts, this steakhouse is a community institution. The welcoming ambiance provides the perfect setting for celebrating a special occasion, enjoying a romantic dinner, or spending an evening relaxing with family and friends.
Reputation is everything with restaurants. Start off strong with more than 1,400 reviews across three platforms: 4.6 stars on Facebook, 4.4 stars on Google, and 4 stars on TripAdvisor. The surrounding area is growing with a new arts center and an apartment complex under construction just blocks from the restaurant.
The Sellers limited growth over the past several years as they readied for retirement. The Restaurant relies on word-of-mouth recommendations, online reviews, local magazine ads, and Facebook posts to market the business. Revenue reached $1.1 million in 2023 and is projected to reach $1.5 million when opening Sundays and Mondays.
Investment Highlights
? PRICED TO SELL!
? 31% Cash Flow!
? $20 average per person for lunch
? $30 average per person for dinner
? Over 1,000 outstanding reviews!
? Seats:
o 150 Dining room
o 60 Patio
o 10 Bar
o 50 Private parties
? $293,500 in Build-out & Assets
? $7,000 in Inventory
? Expert staff of 26
Valuation:: $963,732
Priced To Sell: $475,000
Projected Gross Sales with Sunday/Monday Opening: $1,564,000
Projected Seller’s Discretionary Earnings: $683,913
2023 Gross Sales: $1,086,922
2023 Seller’s Discretionary Earnings: $333,913
Ad#:2254887
Detailed Information
Location: Chester, VA
Inventory: Included in asking price
Employees: 26
Furniture, Fixtures, & Equipment (FF&E): Included in asking price
Facilities: DINING CAPACITY (Seats) 150 Dining Room, 60 Patio, 10 Bar, 50 Private Parties
Support & Training: As Needed and Negotiated
Reason for Selling: Retiring for the Second Time
