Opportunities
Down Home Steakhouse & Bar in Lincoln
Sold
Specifications
This down home steakhouse and bar in Lincoln, NE has been providing great booze, burgers and fun for 28 years, and consistently grosses 17k per week. With a full menu from finger food to steaks and burgers, included in the purchase is $351,000 of furniture and equipment and $10,000 of inventory. Situated along a well-trafficked road, the restaurant is just minutes from University of Nebraska-Lincoln, making it a perfect spot for Game Day.
Running daily specials keeps the regulars coming in for more week after week, and the Sunday burger and beer special is a popular event. The restaurant is fully staffed with mostly tenured employees, including 7 kitchen staff and 11 working the front end. All employees are fully trained and ready to take the restaurant to the next level.
Equipped with a full bar and beer garden, a new owner has several growth opportunities. Hours could be extended to service the nightlife crowd in the area. There is also a karaoke machine ready to be utilized for karaoke nights. They do not currently advertise, but with daily specials, karaoke nights and a beer garden, advertisement could greatly increase foot traffic.
The current owner oversees daily operations, but is looking to retire. This is a great opportunity for a buyer to purchase an existing restaurant and clientele for very little investment.
Business Highlights
- Fully Staffed with 18 employees, most have been there for 2+ years
- Great growth potential if you tap into the nightlife crowd - Karaoke machine, full bar & beer garden ready to be used
- Sales split evenly between lunch and dinner
- Most profitable day is Sunday, which features burger and beer specials
- Averages gross sales of 17k per week
Financial Highlights
- List Price: $110,000
- 2016 Gross Sales of $805,959 (fiscal year runs from July 1 through June 30)
- 2016 Gross Sales from July 1 to December 31: $376,980 (fiscal year ends June 30, 2017)
- Annualized to $753,960 – calculated on 6 months of sales and does not included Keno sales
- 2015 Gross Sales of $774,660
- Buildout worth $200,000
- $10,000 in inventory
- $351,408 in assets included in the purchase: 12 TV’s, Projector w/ Screen, Full Security System w/ cameras, Karaoke equipment, Full Stainless Steel Kitchen equipped w/ Fryers, Char Grill, Food Prep Stations, Walk-in Cooler, Walk-in Freezer, Pizza Oven, Stove/Oven, 2 Cash Registers, Tables, Chairs & much more.
Furniture & Equipment - $351,000 Replacement Cost
12 televisions | Food prep stations |
Projector with screen | Walk-in cooler |
Full security system with cameras | Walk-in freezer |
Karaoke equipment | Pizza oven |
Full stainless steel kitchen equipped with fryers | stove/oven |
Char grill | 2 cash registers |
Menu
** Runs 2 specials per day ** Turkey Dinner Thursdays ** Burger Madness Sundays
Starters | |
Boneless Wings | Shrimp Cocktail |
Nachos Grande | Chicken Gizzards or Liver |
Cheese Fries | Mac N Cheese Bites |
Fried Green Beans | Cheese Balls |
Breaded Cauliflower or Mushrooms | Onion Chips |
Rocky Mountain Oysters | Wings (Hot or Sweet Thai Chili) |
Salads | |
Grilled Chicken | Side |
Shrimp | Taco |
Southwestern | Chef |
Steak | Soup & Salad |
Burgers | |
Special Burger | Big Cheese |
Mushroom Swiss Burger | Open-Flame |
Patty Melt | Mini Burger |
Entrees | |
Chicken Fried | Halibut |
Golden Fried Shrimp | Spaghetti |
Steak & Shrimp | Salmon Steak |
NY Strip Steak | T-Bone Steak |
Top Sirloin | Chop Steak |
Filet | Beef Tenderloin Sizzle |
Sandwiches | |
Philly Cheese Steak | Chicken Special |
Prime Rib Sandwich | BLT |
Club | Char-Grilled Chicken Breast |
Chicken Supreme | French Dip |
Reuben | Catch-All Philly |
Baskets |
---|
Chicken Strips |
Fish ‘N Chips |
Breaded Shrimp |
Specials
Monday through Saturday, food specials served after 5pm, drink specials served after 7pm. Sunday specials served all day.
Monday | Thursday |
Hot Beef Sandwich | BBQ Baby Back Ribs |
Frosty 32oz Domestic Schooners | Ketel One Vodka |
Tuesday | Friday |
Philly Cheese Steak | 20oz T-Bone Steak |
Catch-All Philly | Pan Fried Walleye |
Beef Tenderloin Sizzle | Chicken or Shrimp Fettucine |
Domestic Bottles | Daiquiris & Margaritas |
Wednesday | Saturday |
Fried Park Chop Dinner | Prime Rib Dinner |
Captain Morgan | Homemade Bloody Mary’s |
ALL SUNDAY MADNESS - BURGERS AND DOMESTIC PITCHERS
Employees
- Kitchen (7 on staff)
- Full-time Kitchen Manager
- Full-time Assistant Kitchen Manager
- 5 part-time Cooks (under 35 hours/week)
- Front End (11 on staff)
- Full-time Front End Assistant
- Full-time Bartender/Waitress
- 7 part-time waitresses
- 2 part-time bartenders
Growth Opportunities
- Restaurant is right off a well-trafficked road and is just a couple of miles away from University of Nebraska-Lincoln
- Capitalize on Huskers Game Days
- Offers Keno, which earned over $34,000 in sales during the 2015-2016 fiscal year
- Increase Keno options and advertise Keno nights
- Extend hours to bring in the bar crowd
- Create Karaoke nights – equipment is already in place for this
Valuation Details
The Firm Business Brokerage used a Cost to Create methodology to determine the Purchase Price of the business. Due to the time, money and energy involved, it would take more than the List Price of $110,000 to recreate this steakhouse and bar, and to build up the reputation and customer base from almost 30 years in business.
Print, sign and send to:
210 N 78th St. 2nd FloorOmaha, NE 68114
Or fax to:
f 402.939.0857