Business Sales & Acquisitions
Price
$995,000
Location
Maine
Industry
Food and Restaurants
Listing ID
CM72224
This is a very successful seasonal restaurant that has undergone an incredible transformation since the current owner acquired it two years ago. In that time, he has completely revamped operations and dramatically increased efficiency. Financials
That transformation includes a new, customized POS, which has sped service to the point that they can serve 60+ meals per hour. Each order is simultaneously distributed to every workstation, so all of the different parts of each order are made at the same time. That leads to meals staying hot and fresh while improving throughput.
This has resulted in enormous year-over-year growth. Halfway through the 2024 season, sales are up 23.2% vs the same period last year and 58% vs the same period 2 years ago.
The extensive menu includes pizza, subs (grinders/hoagies) burgers, chicken, fish, fried everything along with some amazing desserts. Deep fried apple-pie, deep-fried Oreos and lots of different flavors of ice cream.
The location is directly on China Lake in China, Maine, which is a popular tourist destination. There is outdoor seating on picnic tables and Adirondak chairs, which both locals and vacationers love. There is a dock where boaters can tie up to come in for lunch or dinner.
The restaurant also has an $8.00 delivery deal through Square via Uber Eats, which many locals take advantage of.
This is currently a seasonal restaurant, running from April 1 to September 14.
The seller has town approval to replace the current building with a new 1,975 sq ft steel structure in November 2024. This new building will be capable of supporting year-round operation. When complete, the sale price will increase to reflect that improvement.
China is located in Central Maine, about 30 minutes north of Augusta and 20 minutes south of Waterville. It is easily accessible from Interstate 95 and is directly served by state routes 3, 9 and 202.
Purchase Price: $995,000
Cash Flow: $175,000
Gross Revenue: $764,000 (2024 YTD annualized)
Inventory: $ 15,000 +/- (included in the purchase price)
FF&E: Included
Real Estate: $650,000 (included in the sale price)
Employees: 7 FT, 26 PT, including 2 sellers
Founded: 1975
Days Open: 6 (closed Mondays)
Reason for Sale: New Opportunities
Opportunities for growth: Work with the town to expand the building to allow for inside seating and obtain a liquor license. There is nowhere else in town with sit-down dining and a liquor license, so the demand is there.
Training: The seller will assist with the transition.
Seller is seeking retirement.
Seller will train and support to ensure a smooth transition.
Work with the town to expand the building to allow for inside seating and obtain a liquor license. There is nowhere else in town with sit-down dining and a liquor license, so the demand is there.
"*" indicates required fields
Price: $995,000
Location: Maine
Industry: Food and Restaurants
Listing ID: CM72224
This is a very successful seasonal restaurant that has undergone an incredible transformation since the current owner acquired it two years ago. In that time, he has completely revamped operations and dramatically increased efficiency. Financials
That transformation includes a new, customized POS, which has sped service to the point that they can serve 60+ meals per hour. Each order is simultaneously distributed to every workstation, so all of the different parts of each order are made at the same time. That leads to meals staying hot and fresh while improving throughput.
This has resulted in enormous year-over-year growth. Halfway through the 2024 season, sales are up 23.2% vs the same period last year and 58% vs the same period 2 years ago.
The extensive menu includes pizza, subs (grinders/hoagies) burgers, chicken, fish, fried everything along with some amazing desserts. Deep fried apple-pie, deep-fried Oreos and lots of different flavors of ice cream.
The location is directly on China Lake in China, Maine, which is a popular tourist destination. There is outdoor seating on picnic tables and Adirondak chairs, which both locals and vacationers love. There is a dock where boaters can tie up to come in for lunch or dinner.
The restaurant also has an $8.00 delivery deal through Square via Uber Eats, which many locals take advantage of.
This is currently a seasonal restaurant, running from April 1 to September 14.
The seller has town approval to replace the current building with a new 1,975 sq ft steel structure in November 2024. This new building will be capable of supporting year-round operation. When complete, the sale price will increase to reflect that improvement.
China is located in Central Maine, about 30 minutes north of Augusta and 20 minutes south of Waterville. It is easily accessible from Interstate 95 and is directly served by state routes 3, 9 and 202.
Purchase Price: $995,000
Cash Flow: $175,000
Gross Revenue: $764,000 (2024 YTD annualized)
Inventory: $ 15,000 +/- (included in the purchase price)
FF&E: Included
Real Estate: $650,000 (included in the sale price)
Employees: 7 FT, 26 PT, including 2 sellers
Founded: 1975
Days Open: 6 (closed Mondays)
Reason for Sale: New Opportunities
Opportunities for growth: Work with the town to expand the building to allow for inside seating and obtain a liquor license. There is nowhere else in town with sit-down dining and a liquor license, so the demand is there.
Training: The seller will assist with the transition.
Gross Revenue: $764,000
Cash Flow: $175,000
Inventory: $15,000
Real Estate $650,000
Reason for Sale: Seller is seeking retirement.
Training & Support: Seller will train and support to ensure a smooth transition.
Year Established: 1975
Days & Hours of Operation: 6 Days, Closed Monday.
Employees: 7 FT, 26 PT, including sellers
Type of Location: Single location
Potential Growth: Work with the town to expand the building to allow for inside seating and obtain a liquor license. There is nowhere else in town with sit-down dining and a liquor license, so the demand is there.
"*" indicates required fields
Price
$995,000
Location
Maine
Industry
Food and Restaurants
Listing ID
CM72224
This is a very successful seasonal restaurant that has undergone an incredible transformation since the current owner acquired it two years ago. In that time, he has completely revamped operations and dramatically increased efficiency.
That transformation includes a new, customized POS, which has sped service to the point that they can serve 60+ meals per hour. Each order is simultaneously distributed to every workstation, so all of the different parts of each order are made at the same time. That leads to meals staying hot and fresh while improving throughput.
This has resulted in enormous year-over-year growth. Halfway through the 2024 season, sales are up 23.2% vs the same period last year and 58% vs the same period 2 years ago.
The extensive menu includes pizza, subs (grinders/hoagies) burgers, chicken, fish, fried everything along with some amazing desserts. Deep fried apple-pie, deep-fried Oreos and lots of different flavors of ice cream.
The location is directly on China Lake in China, Maine, which is a popular tourist destination. There is outdoor seating on picnic tables and Adirondak chairs, which both locals and vacationers love. There is a dock where boaters can tie up to come in for lunch or dinner.
The restaurant also has an $8.00 delivery deal through Square via Uber Eats, which many locals take advantage of.
This is currently a seasonal restaurant, running from April 1 to September 14.
The seller has town approval to replace the current building with a new 1,975 sq ft steel structure in November 2024. This new building will be capable of supporting year-round operation. When complete, the sale price will increase to reflect that improvement.
China is located in Central Maine, about 30 minutes north of Augusta and 20 minutes south of Waterville. It is easily accessible from Interstate 95 and is directly served by state routes 3, 9 and 202.
Financials
Purchase Price: $995,000
Cash Flow: $175,000
Gross Revenue: $764,000 (2024 YTD annualized)
Inventory: $ 15,000 +/- (included in the purchase price)
FF&E: Included
Real Estate: $650,000 (included in the sale price)
Employees: 7 FT, 26 PT, including 2 sellers
Founded: 1975
Days Open: 6 (closed Mondays)
Reason for Sale: New Opportunities
Opportunities for growth: Work with the town to expand the building to allow for inside seating and obtain a liquor license. There is nowhere else in town with sit-down dining and a liquor license, so the demand is there.
Training: The seller will assist with the transition.
Seller is seeking retirement.
Seller will train and support to ensure a smooth transition.
Work with the town to expand the building to allow for inside seating and obtain a liquor license. There is nowhere else in town with sit-down dining and a liquor license, so the demand is there.
Administration and Mail
209 West 29th Street
Suite 318
New York, NY 10001
Phone: 212-473-5000
1245 Farmington Ave
Suite #302
West Hartford, CT 06107
Phone: 860-474-8000
1001 Liberty Ave, 5th Floor
Pittsburgh, PA 15222
Phone: (215) 461-5000
Two Liberty Place
50 South 16th Street
17th floor
Philadelphia, PA 19102
Phone: 215-388-2334