Retail - Restaurants | Retail - Other Eating & Drinking Places

Asking Price	$299,000	Inventory	$6,000*
Gross Income	Not Disclosed	Real Estate
Cash Flow	Not Disclosed	Year Established	2006
FF&E	$240,000*	Employees	12

* included in the asking price

** not included in the asking price

This restaurant offers a highly visible State Street location, within the downtown "Entertainment District", facing one of the largest traffic flows in Santa Barbara. This Restaurant distinguishes itself with a Type 47 full liquor license, open floor plan with service bar, and a newly renovated kitchen area. Live entertainment is permitted up to a quartet, and an application for a dance permit is in process with the City. Furniture, fixtures and equipment were installed brand new in 2006, making this a truly turn-key opportunity, with only cosmetic improvements needed to suit an alternative concept. The owners direction has been on entertainment and providing a higher-end night life to existing patrons, but recommends a food-service focus to potential buyers, and opening earlier to take advantage of the business lunch crowds. * Note - Please fill out and fax back the attached form for more details on our listings.

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Facilities: This business is located in the heart of the downtown Entertainment District, featuring the highest customer counts on State Street. Recently remodeled in 2006, the owner invested over $600,000 in a complete renovation of the premises. The full-service kitchen includes a 12' hood, new make-up air and HVAC units, ample dry storage and a walk-in cooler. A new bar was also constructed for full liquor service, featuring fresh beer lines, new plumbing and floor drains and two service wells. The long term lease is assignable to qualified Buyers.

Competition: Retail sales along this block of State Street have been consistent for several years, with the summer months bringing a tremendous increase in revenues. Tourists flock to Santa Barbara from June through late September, and the Downtown Organization directs consumers to the Entertainment District for their food and beverage enjoyment. The owner reports that local business has increased recently due to special events booked at the premises, including karaoke, live music and stand-up comedy.

Growth/Expansion: This location will support a wide variety of business models. With a full liquor license and city approval for live entertainment, the owner has generated good revenues in the evening hours. A high-end martini concept would fit well on this block of State Street, as would a venue to sample local wines. The full kitchen also offers several competitive advantages. Directing the concept towards day-time meals and happy hour would cover the costs of operation before dusk, and allow the night time business to fuel higher profit margins to the owner.

Financing: Seller will consider limited financing for qualified Buyers!

Support/Training: Employees are fully trained and capable of fulfilling all food preparation, and customer service. Seller will provide up to 30 days or 40 hours of training on product ordering, recipes and the nuances of this location to contracted Buyers, after all contingencies have been satisfied.

Reason Selling: The owner would like to focus on his other businesses.