SUCCESSFULL RESTAURANT BUSINESS FOR SALE

Business Opportunity for Sale
Catylist Listing ID: 30732580
Property Subtypes: Food and Beverage
Building Size (RSF): See Agent
Sale Price: $200,000
Name of Establishment: "The Brass Lantern Restaurant and Lounge"
Business Website Address: https://thebrasslanterncrossville.com/
Year Business Established: 2015
Gross Revenue: $0 (Annual)
Cash Flow: $0 (Annual)
Sale Terms: Husband and wife team ready to retire. Business Only Sale.
Last Updated: 5/21/2021

Overview / Comments

The Brass Lantern Restaurant and Lounge, LLC is in search of owners who will love and continue to cultivate a great restaurant, great food, great customers, and great conversation. It is located right off of Exit 322, I-40. Comfort Inn and Suites, Holiday Inn, Hampton Inn, and Super 8 are in walking distance of this location. Approximately 5 miles down the road is Wyndham/Fairfield Glade Resort Community with over 10,000 residences with numerous Wyndham guests.

Brass Lantern Restaurant and Lounge, LLC is advertised in the Wyndham packets There is plenty of room for expansion. At this time, it is closed on Sundays and serves only lunch and dinner.

Have established offering on-line ordering and digital/gift certificates and have updated the POS.

There are signs on I-40 right before the exit, going west and east.

Husband and wife team are ready to retire.

Profit and Loss Statements are available upon request by serious inquiries.
This profitable restaurant business is in operation. The seller is requesting that all interested parties sign a Non-Disclosure Agreement before any information is released to serious inquiries.

Additional Details

Nearest MSA: Crossville
County: Cumberland
Industry Segment: Restaurants
Reason for Selling: Retirement
Value of Inventory Included ($): $58,000
Value of Furniture, Fixtures, and Equipment ($): $67,902
Real Estate Status: Leased
Value of Real Estate Included ($): $0
Real Estate Lease Description: The business leases the property.
Employee/Labor Description: There are approximately 8-10 employees covering lunch hours and dinner hours.
Mgmt/Training Support Description: Owners of business offer 4-6 month support for training to potential buyers.
Competition/Market Description: There is very little competition. Fairfield Glade, at this time, has only one restaurant open for its 12000+ population and there are 3 hotels across the street. Fairfield Glade is approximately 3 miles from the location of this restaurant. They also pull in travelers off of I-40. It is on the corner of the exit ramp for I-40.
Growth/Expansion Opportunities: There are no Sunday hours at this time. Only lunch and dinner are served Monday through Saturday at this time.

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 9,362 22,617
Median Age: 38.78 45.46
Households: 3,944 9,679

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