Popular Bar/Restaurant in The Woodlands, $1.5 Mil in Annual Sales

Listing Number: 76931-264033

Description

Nestled in the heart of the busiest and fastest growing area in Houston, this exciting and highly popular restaurant and bar is ready for its new owners. The restaurant boasts a full bar that is truly the star of the show, both aesthetically and financially. There is an expanded bar menu and specialty Tequila selection that includes over 85 uniquely crafted spirits. Alcohol sales range from 48-50% of total revenue. The variety of delicious and fresh menu items are all original to the concept, which in and of itself is a brand that underwent a full refresh in 2022. There was a logo change, bright new paint, new uniform designs and fresh energy injected into the business. All menu items have recipes and systems in place for smooth and professional execution. This much-loved establishment has an exceptionally dedicated and loyal customer base, but they also cater to a vast number of tourists, concert goers, visiting business professionals and Houstonians from other parts of town looking to explore The Woodlands’ exciting restaurant and bar scene.

Total revenue in 2022 was $2,010,196 and the business is cash flow positive even with no hands-on owner operator. With an owner who ran the business even part time, the SDE would be over $80,000. The current asking price is 35% of the total revenue for 2022, and included in that price is:
• $155,000 in FF&E, including brand new (warrantied) and updated equipment that is owned outright by the business.
• Owners are offering the right to purchase the LLC that owns the business, which means the liquor license (valid until 2024) would transfer to the buyer.
• Lease has a five-year option term available and favorable terms for such a highly-desirable area. Indoors the square footage is 2,600, and there is also a unique outdoor patio that is 1,800+ sq ft.
• Base rent is only $8,930 per month
• All permits (Health, Safety) are current.
• Seller is allowing the buyer to retain their current security deposit of $36,534.

Listing Details

• Price: $ 585,000
• Down Payment: $585,000
• Sellers Discretionary Earnings: $ 121,300
• Total Sales: $ 1,603,340
• Location: Montgomery County, Texas


• Inventory: $ 50,000
• FF&E: $ 155,000
• Employees: 40
• Year Established: 2022
• Reason for Selling: Other Ventures
• Category: Restaurants