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Details

This opportunity is an iconic Restaurant and event center located on historic Route 66 in Oklahoma. The owners are at retirement age and want to sell the Restaurant, and the buildings that house the Restaurant and event center.
RESTAURANT: The Restaurant, offering steaks, bar-b-que, and seafood, has been a “go to” choice for Oklahomans for almost 50 years. Meals are served in a family-friendly atmosphere.
EVENT CENTER: The event center was built behind the Restaurant in 1992. The event center has a full kitchen and walk-in freezer and is used to prepare catered meals. The event center can accommodate up to 250 guests and is also used for catering.
HIGHLIGHTS:
 2019 Revenue $2.2 million.
 6,800 square foot restaurant
 9,000 square foot event center
 2.7 acres – Parking for 176 vehicles
 2021 Appraised market value of Restaurant and event center buildings is $2.625 million
OPPORTUNITIES: The Restaurant has significant growth opportunities:
• Brand recognition – The Restaurant has strong state-wide brand recognition because of creative TV advertising. A restaurant industry expert believes new owners could build on the brand recognition to open additional locations in Oklahoma and to offer branded food products online or through retailers.
• Increase liquor revenues – Liquor is typically the most profitable product in a restaurant, but liquor is just 8% of the Restaurant’s revenues. Successful restaurants typically target liquor sales of 20% to 30% of revenues.
• Online ordering and delivery – The Restaurant’s carry-out business has increased to 22% of revenue – but the existing facilities and location could support significant increases in online ordering and delivery.
• Alternative uses for event center – The event center could be converted into a catering and commissary operation to support special events, other Restaurant locations, other restaurants, and delivery.

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Disclaimer: DealStream has not independently verified any of the information in this listing and makes no warranty as to its accuracy or completeness. This listing does not constitute an offer to sell, solicit or make an offer to buy an investment interest. Offers to sell, or the solicitation of offers to buy, any security can only be made through official offering documents, such as a subscription agreement and private placement memorandum.