Business Category: Bars, Hotels & Other Lodging Places, and Restaurants
Listing Price: $589,900
Cash Flow: $321,400
Equipment Value: $120,000
Here is a fantastic opportunity to buy a highly profitable and popular restaurant and hotel. It is located in a highly trafficked recreational location in Northern MI surrounded by state forestland. An excellent site for hiking, biking, snowmobiling, and ORV riding, and hunting. This unique business has been featured several times in MLive.com’s top picks for its food, location, and atmosphere. It is a hands-down favorite among local residents, and they have a very loyal following.
The restaurant and hotel have a rich history, spanning over 60 years. The facility includes on-site living for ownership or management, allowing owners very affordable living expenses. This feature would be ideal if the new owner decided to have a manager as room and board could be part of their salary. The current owners started the Restaurant/Hotel in 2016 and have chosen to live on-site and be hands-on managers. They are seeking to sell the business to achieve a slower pace of life.
The Company generated $963,000 in revenue and $321,400 in Seller’s Discretionary Earnings in 2020! The restaurant and hotel consistently generate SDE margins over 30%, making placing a full-time, well-qualified manager very affordable and still developing a substantial return on your investment.
Opportunities For Growth:
(1) Additional Marketing: The Company has mainly received new customers through word-of-mouth, as well as through positive reviews. New ownership could increase marketing efforts by boosting social media presence, updating the website to include online ordering, and other types of ad campaigns to entice vacationers.
(2) Social Events: The Business often hosts social events such as game viewings and live music. These activities have slowed during the pandemic, but as they are brought back, new ownership could expand these event offerings and add variety, such as trivia nights, outdoor dances, karaoke, and more.
(3) Customer Loyalty Program: The Business benefits from many return clientele and locals. New ownership could further boost sales and turn happy customers into more regulars and return clientele by offering a customer loyalty program with rewards and discounts.
(1) Excellent Location: The Business is located in a popular vacation area, surrounded by state forestlands and plenty of activities such as hiking, biking, fishing, boating, hunting, and more.
(2) Outstanding Customer Reviews: The Business has received many 5-star Google reviews from pleased guests enjoying their stay, their meal, and the exceptional service.
(3) Excellent Food & Service Offerings: The Business offers a newly expanded menu of quality food with daily specials. The staff pride themselves on offering warm and friendly service, and accommodation prices are kept intentionally low so that guests can extend their stay and prioritize their activities over having to watch their vacation budget.
(4) Ownership On-Site Living: The facility has on-site living accommodations for ownership; or, if ownership chooses to live off-site, this accommodation can be offered to a manager or management pair. However ownership chooses to utilize this space, it makes for an affordable lifestyle for the main operators of the Business.
Real Estate Value: $275,000
Real Estate Available: For Sale
Reason For Sale: he Owners are seeking to slow down and pursue other interests.
Number of Employees: 14