60+ Year Established Ice Cream & Restaurant Business – 3 Locations
Asking Price
$1,600,000
Gross Revenue
$1,500,000
Business Overview
Rare opportunity to acquire a highly established, multi-location ice cream and casual dining business with more than 60 years of operating history.
Founded in 1960, this well-known regional concept has built a loyal customer following and currently operates three locations, offering a combination of walk-up, drive-thru, and dine-in service.
Unlike a traditional seasonal ice cream shop, the business features a diverse menu designed to generate traffic throughout the day and across multiple seasons.
Offerings include soft serve and hand-dipped ice cream, shakes, malts, specialty desserts, burgers, sandwiches, wraps, baskets, appetizers, salads, kids' items, and additional food and beverage selections.
This broad menu provides multiple revenue streams and gives a new owner significant opportunity to continue expanding lunch, dinner, snack, and dessert sales.
The business benefits from an established operating infrastructure, including management personnel who assist across the locations, reducing reliance on an owner being present at each store every day.
The three-store footprint provides an attractive platform for an experienced operator, restaurant group, entrepreneur, or strategic buyer looking to acquire an established concept with further growth potential.
Financial performance is compelling, with weighted Seller's Discretionary Earnings (SDE) of approximately $531,917.
At the current $1.6 million business asking price, the opportunity represents approximately a 2.82x multiple of weighted SDE, with illustrative debt-service coverage of approximately 2.6x based on the financial analysis included in the offering materials.
Additional upside exists through further development of one location, continued menu and daypart expansion, increased digital marketing and customer retention programs, delivery growth, and continued optimization of management across the three-store operation.
The business is offered at $1.6 million, with associated real estate also available at $1.6M subject to appraisal.
The seller is willing to consider either a purchase of the business and real estate together or, depending on the transaction structure, a business-only acquisition with a lease of the real estate, providing flexibility for qualified buyers.
This is an exceptional opportunity to acquire a long-standing, recognizable multi-location food and dessert concept with strong cash flow, established operations, multiple revenue streams, and meaningful growth potential.
Additional information, including detailed financials and location information, will be provided to qualified buyers upon execution of a confidentiality agreement.
Ad#:2553569
Listed By: Misty Menossi
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