FOR SALE
Miguelito's Mexican Grill
Carrizo Springs, Texas
OVERVIEW
Restaurant Realty Group has been exclusively retained to offer for sale a busy and profitable Mexican food restaurant in Carrizo Springs, Texas, about a two-hour drive from San Antonio. Perfectly situated in the middle of FIVE hotels, the restaurant has a steady stream of out of town customers plus a very strong local customer base! Combine this outstanding location with their delicious food and margaritas, and it's abundantly obvious why this restaurant is so successful.
Facilities
This freestanding restaurant was formerly a two-story home and has recently been converted into a full-service Mexican restaurant and bar. The restaurant provides approximately 2,500 sf inside with seating for up to 90 guests. Their is additional room upstairs which could easily be used for private dining areas to provide even more seating. The outdoor areas include a 775 sf covered patio with a total approximately 50 outdoor seats. The large parking lot was just resurfaced in early 2013 and provides 65 reserved parking spaces. There are many areas to expand for indoor and outdoor seating.
Furniture, Fixtures and Equipment (FF&E)
The cost of starting a restaurant from scratch is HUGE. Heating, ventilating, air conditioning, plumbing and electrical systems cost far more than most people realize. For example, to finish-out a similar sized 2,500 sf shell, businesses in the San Antonio area typically pay anywhere from $250,000 to $600,000 and up for a complete build out... making it much less expensive to purchase an existing restaurant. This sale includes all furnishings, fixtures and equipment. This includes a well equipped kitchen and bar, fully furnished dining room and patio and everything needed to operate the restaurant.
Food & Beverage
Miguelito's is a full service restaurant and bar serving a busy lunch, happy hour and dinner. As one would expect, at Miguelito's the food is the main attraction with fajitas, enchiladas and tacos being the top sellers. Food accounts for 84% of sales with the balance attributed to sales of beer and wine.
Labor
Without question, Miguelito's is a great place to eat. And, it's also a great place to work. Unlike many restaurants struggling to retain employees, this restaurant has tremendous stability with its workforce as most employees have been employed for many years. All together, there are 16 employees, 10 full-timers and 6 part-timers. Labor costs come in at just under 30% of sales. All employees, except ownership, will stay with the business leaving a seasoned and qualified staff to help smooth the transition to new ownership.
Performance
Miguelito's has been in business for over 5 years and is open to the public every day of the week from 11:00 am to 10:00 PM CST. They do stay open until 11 PM in Friday and Saturday. The restaurant has been successful since day one and produces sales $904K in 2016, $1.06MM in 2017 and on track for continued growth in 2018. the Seller's Discretionary Earnings (SDE) were
Real Estate Included
Included in this sale is the real property and improvements and all furniture fixtures and equipment on the premises. The real estate is
The house, which was converted into a restaurant, was originally built in 1940 and is situated on a beautiful 1.4 acre lot. In 2013, the house was purchased by the current owners and converted into a Mexican food restaurant.
Upside
The restaurant has another location operating under the same name in Crystal City and doing well too. Both businesses could be purchased together and other locations could be added to the portfolio. New owners could take advantage of the many catering opportunities in the area.
Goodwill
People love to visit Miguelito's to enjoy the great food, cozy atmosphere and great margaritas. With over $1 MM in annual sales, it is obvious that Miguelito's has a strong following and has built considerable goodwill in the community. They have built this great reputation around the trade name of the business, the menu and menu items, their business systems, service systems, standard operating procedures, intellectual property, trademarks, phone numbers, fax numbers, websites, email addresses, social media sites, etc. All of which are quite valuable and included in this sale.
Training
The owner will provide up to 30 days of on-site training and support to ensure a smooth transition to new ownership. After this time, the owners will be available in a consultant's role at an hourly rate.
Interior
2,000 SF Interior Fully Equipped Kitchen Fully Furnished Dining Area General Store Look & Feel |
Exterior
10+ Acres Newly Resurfaced Parking Lot Outdoor Patio + Stage Covered Patio/Porch |
Financials
Financial Reports Tax Statements Beer & Wine License Equipment List |
TRADE AREA
MIGUELITO'S MEXICAN GRILL
101 Petry Pl, Carrizo Springs, TX 78834
*** AVAILABLE NOW **
CONTACT INFO
THIS BUSINESS IS CURRENTLY OPERATING
DO NOT CONTACT ANYONE AT THE BUSINESS
THEY KNOW NOTHING ABOUT THE SALE AND CANNOT HELP YOU IN ANY MANNER
DO NOT CONTACT ANYONE AT THE BUSINESS
THEY KNOW NOTHING ABOUT THE SALE AND CANNOT HELP YOU IN ANY MANNER
ALL INFORMATION FURNISHED IS FROM SOURCES DEEMED RELIABLE AND IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGE OF TERMS AND/OR CONDITIONS.
PLEASE VERIFY ANY AND ALL INFORMATION FOR ACCURACY AND COMPLETENESS.