Recently Crowne Atlantic Business Brokers sold a Philly Cheesesteak Sub Shop in the area of Brevard County by Melbourne. The business was run by an owner with a passion for cheesesteaks and everything Philadelphia. So much so, that after building their established business they decided they wanted to move back to Philadelphia. A buyer with a lot of restaurant experience purchased the restaurant. This buyer reportedly told us that she had inquired and look at over 40 restaurants on the market over a 6-month period. They had recently relocated to Florida from up North and were looking to acquire a business. This restaurant was clean, well-run, the product was excellent, the owner kept financial records, and if that wasn’t enough already, it was an extra bonus that the restaurant’s online reviews were were exceptional.
We’re displaying some pictures on this post so you can see the size of the restaurant. Not too big and not too small. The restaurant had a good working kitchen with a large hood and probably around 50 seats. The staff was told about the sale before it occurred to our knowledge everyone stayed on after the purchase. At the time of purchase the business was grossing an average of $36,000 a month and netting the owner an average of $65,000 a year. The business was purchased for $99,000 including inventory, and both parties got a great deal.
