Greek Restaurant in College Town

Financial Information

  • Asking Price: $200,000
  • Gross Revenue: $395,818
  • Cash Flow: N/A
  • Down Payment: $100,000
  • FF&E (Included): $100,000
  • Inventory: $5,000
  • Financing: Yes

Business Location

  • Monongalia
  • Morgantown
  • West Virginia
Primary Business Category: Restaurants

A highly visible authentic Greek Diner located in college town. The owners have done the heavy lifting to create the space and build the business to a profitable level. Family reasons are forcing a sale. The right buyer will be able to continue the success of the operation. In addition to traditional Greek diner, profit comes from a morning bagel and coffee shop as well as seasonal festivals, farmers markets and catering. All of these avenues can be expanded with minimal effort to increase revenue.

Competition Description

Very little competition in town for healthy and authentic Greek Food. Only restaurant in large student apartment complex with somewhat of a captive audience.

Growth / Expansion overview

Plenty of kitchen space and seating space to grow on site. The addition of a food truck will build upon "The Greeks" brand awareness. Food truck belongs to Manager(Daffy) expected to meet code.(Ansul system) in Dec. 2019. Suggested that it be purchased from Daffy at time of sale.

Support / Training Comments

Owner is willing to be available for 3 months to help train.

Financing Comments

Absentee owner is very motivated! Lives in another state and does not want to continue to own this business. Price is negotiable! Will consider some financing for a qualified buyer. Lease expires in May 2020. Seller is confident that the landlord will reduce rent in exchange for a 5 yr lease.

Reason For Sale
Owner built restaurant with family in mind. The situation has changed dramatically and the seller is ready to get out. The business generates significant revenue and remains profitable in spite of management issues that could be easily solved by an owner operator. A great opportunity for someone who knows and likes restaurants!
  • Home Based: No
  • Year Established: 2014
  • Franchise: No
  • Year Acquired: 2014
  • Willing to Train: Yes
  • Relocatable: No
  • Required Licences: County Restaurant Manager Certification

  • Is Property Leased: Yes
  • Real Estate Available: No
  • Real Estate Included: No
  • Real Estate Value: N/A
  • Days Open: Tuesday-Thursday
  • Hours Open: 7 AM- 10 PM
  • Fulltime Employees: 4
  • Part time Employees: 5
  • Is Management Staying: No
  • Distressed: No
  • Monthly Payroll: $8,900
  • Building Size: 2,750 sq ft
  • Seats: 40
  • Parking: Validated Parking in Garage below.
  • Monthly Rent: $3,000
  • Lease Expires: 03/31/2019
  • Lease Terms: Lease expires in May 2020. New owner can expect reduced rent in exchange for signing 5 yr lease.

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Business Listed by

Sunbelt West Virginia & Western Maryland

Contact: Thomas Long
Office Phone: 304-276-1880
Mobile Phone: 304-476-1050
Listing ID: WESTOWV001-N67

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