EXECUTIVE SUMMARY

This very profitable restaurant (with a full liquor license) is located in one of Maui’s most popular tourists’ locales and has great foot 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 $17 to $25 range.  In 2021, 23% of sales were alcohol.   

 

During the last full pre-Covid year of 2019, they had sales of $1.48 million, which generated over $385,000 of owner’s profits (“SDE”).  In the Covid recovery year of 2021, they had sales of $1.25 million, which generated over $397,000 in SDE.  They expect that 2022 will be an excellent year.

 

The business is being sold on a fully turnkey basis and is being offered because of the pending semi-retirement of the owner.

 

INVESTMENT HIGHLIGHTS

• Good historical sales growth and a highly profitable business

• Great location with very high foot traffic which greatly benefits the Business

• Gross profit margins around 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.

• Pre-qualified for an SBA 7(a) loan, with 15% down payment, 10-year loan term.

 

​COMPANY

Listing ID:  HI Rest

Location: Maui, Hawaii 

Type of Entity: LLC

Years Established: Almost 20

Industry or Business Category: Casual Dining with liquor license

 

FINANCIAL SUMMARY

2021 Source: Tax Return

Revenue: $1.253 million

SDE: over $397,000

 

OFFERING SUMMARY

Asking Price: $895,000

Inventory included in the Price: $5,000

Tangible Assets (F, F & E): $187,300 gross depreciable assets

Non-Compete:  5 years

Training:  2 weeks

Sale Reason: Semi retirement

 

LOCATION DETAILS

Status: Leased

Rent: $8,900/month; $106,800/year; $5.14 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

 

EMPLOYEES: 20 excluding owner

 

COMPETITION

• 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.

 

EXPANSION OPPORTUNITIES

• Add breakfast

• Increase partnerships with tour companies

 

TRADING DAYS/HOURS

• Seven days per week, lunch through dinner

 

LICENSING REQUIREMENTS

• They have a county liquor license

• Health permit and occupancy permit

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To receive a detailed 60 page + Confidential Business Profile, with tax return-based financials, please contact HBS for an NDA.