Newly Renovated Sports Bar & GrillListing: #FW00018
About this Business for sale in Fort WorthNewly Renovated Sports Bar & Grill
Only dine in restaurant with full bar in 5 miles radius - Ready for explosive growth!
A newly renovated Restaurant and Sports Bar is up for sell. Recently opened, this establishment has a great potential to become the neighborhoods go to dining and sports enthusiasts spot. Located at a busy intersection with plenty of traffic, it's a restaurant that will not be Fort Worth's best kept secret for long. It has only been open for a month, but is already getting attention from the neighborhood as a great restaurant/sports tavern. This is a unique opportunity to buy a fully functioning Sports Tavern at a fraction of the typical startup cost.
The restaurant has over 2,000 sq ft and is located in a busy strip center with excellent demographics, visibility, and traffic counts. Monthly rent (including CAM) is $2100. Lease expires in 2025 plus another 5-year option.
The listing price includes $150,000 in FF&E, renovations, spent advertising, and includes inventory. There are 3 employees including 1 manager and shift leaders on staff. The owner is willing to provide up to 2 weeks of training to ensure a smooth transition. Additional time is available upon request. This is a family-owned business. Both spouses are IT industry professionals. One of them got promoted to senior executive role and the new position will require to be onsite starting October 2022. The other one works for a company which headquarters' out of state and needs to travel frequently for work. Both being at good position in careers, this business is lacking the attention it would require to meet its full potential. Football season is upon us and the opportunities are endless!
Since its grand opening July 1st, the restaurant has only been opened for limited hours with limited menu options. Due to work schedules, the owners have not yet been able to operate on a full schedule. Increased marketing and sampling to nearby businesses, schools, and churches are already beginning to increase revenues since July and should continue to provide new sales going forward. Additions to the dine in and carry out menu should also help drive increased sales. Additionally, the surrounding area has strong food delivery and catering demand.
This is a passion project for the husband and wife owners who have contributed a lot of ideas, time and energy to make this establishment a one of a kind in the area. Due to career demands, the couple has decided they must part with it. Once they take on their new career roles, the time that is required to run the restaurant is going to be challenging. Additionally, the owners are working on multiple investment projects as well.
There has not been any mechanical, electrical, plumbing changes made to the business since the opening so acquiring the Certificate of Occupancy and inspections for the new owner will be a smooth transition. HVAC is the responsibility of the landlord and they live on the property so they can be very responsive and are always available. There is really no serious competition for the business nearby and no similar business within at least a 3-4 miles radius.
*Profit: Sellers Discretionary Earnings, also known as EBPITD (Earnings Before Proprietors Compensation, Interest, Tax and Depreciation). This is the estimated total discretionary earnings (profit) for a business, usually based on historical trading.