Maui, Hawaii – Popular Restaurant with Liquor License
This very profitable restaurant (with a full liquor license) is located in one of Maui’s most popular tourists’ locales, close to the beach, and has great traffic. Their casual menu is enjoyed by visitors and residents alike. Their customer mix is about 75% visitors and 25% residents, so they are less dependent on the tourist market.
They have been in business for almost 20 years and their friendly, easy-going atmosphere appeals to people of all ages and all backgrounds. They have developed a strong visitor and resident customer recognition and preference. Current service includes lunch, happy hour and dinner each day. Their prices are moderate, with entree prices in the $14 to $30 range. In 2021, 23% of sales were alcohol. They could re-add breakfast to the mix.
Through YTD April 30, 2023, their sales are 4% higher than last year at this time and annualized sales are tracking to over $1.2 million, and annualized SDE is on track to exceed $400,000 this year.
The business is being sold on a fully turnkey basis and is being offered because of the pending semi-retirement of the owner.
Good historical sales growth and a highly profitable business.
Great location with very high tourist traffic which greatly benefits the Business.
Gross profit margins averaging around 65 to 70%.
Busy year round with both visitors and residents.
Appealing and easy to prepare menu.
Full Maui County liquor license.
Clean books and records, with their tax returns prepared by a CPA.
Long tenured, excellent reputation and preference among both visitors and residents.
Great 3rd party reviews (e.g., Yelp, TripAdvisor, etc.) from visitors.
May qualify a foreign buyer to use the purchase of this business to obtain a US Visa.
Excellent return on Buyer’s capital.
All Covid receipts are removed from the financial analysis.
Located in a very difficult place to get a lease.
Landlord willing to over a minimum 5-year lease to a qualified buyer.
Listing ID: HI Rest
Location: Maui, Hawaii
Type of Entity: LLC
Years Established: Almost 20
Industry or Business Category: Casual Dining with liquor license
Period 2022 YTD 4/30/22 YTD 4/30/23
Sales $1,090,770 $385,824 $400,083
SDE $234,411 $67,036 $134,017
Annualized $201,109 $402,050
Asking Price: $595,000
Inventory included in the Price: $5,000
Tangible Assets (F,F&E): $187,300 gross depreciatable assets
Non-Compete: 5 years
Training: 2 weeks
Sale Reason: Semi retirement
Rent: $9,053/month; $108,630/year; $5.23 per sq. ft. per month
Sq. Ft.: 1,732
Lease Expiration Date: 7/31/2025
Facilities: Beautifully decorated with full kitchen
Excellent relationship with landlord
Landlord offering a minimum 5-year new lease to a qualified buyer.
EMPLOYEES: 20 excluding owner and his wife
• There is competition but they do very well.
BUSINESS PROS & CONS
• Great, low-cost location; rent about 8% of revenue
• Lots of walk by customer traffic
• Located in one of the island’s top visitor locales.
• Add breakfast
• Increase partnerships with tour companies
• Seven days per week, lunch through dinner
LICENSING REQUIREMENTS (if any)
• They have a county liquor license
• Health permit and occupancy permit
To receive a detailed 60 page + Confidential Business Profile, with tax return-based financials, please contact HBS for an NDA.