Popular Sushi Restaurant and Sake Bar

Down Payment: N/A

Total Sales: $1,000,000

Cash Flow: N/A

EBIT: N/A

EBITDA: N/A

Accounts Receivable: N/A

FFE: $60,000

FFE Included: Yes

Inventory: $50,000

Inventory Included: Yes

Year Established: 2019

Non-Owner Payroll: N/A

Employees: 6

Absentee Owner: No

Real Estate: N/A

Real Estate Included: No

Monthly Rent: $7,912

Type of Location: Retail Location

Square Footage: 4000

Franchise: No

Relocatable: No

Facilities Information:

Spacious, open serene dining space with a koi pond at the entrance welcoming guests. Cedar wood décor throughout with high ceilings and a sushi bar seating 14 separating the front of dining area from the back. Natural lighting from full-length windows throughout restaurant. The back dining is ideal for private parties for 30+. Full seating capacity up to 100. Accomodates wheelchair with ramp at fron entrance. Kitchen is length of the restaurant with walk-in freezer and cooler, janitorial area, expeditor area, full dishwashing area, and gas range burners for wok cooking. Lots of space for food prep and storage. Men and women bathrooms with two stalls each.

Terms and Conditions?:

Asset Sale.

Reason For Sale:

Retirement

Training & Support:

Chef owner would be available to help as consultant contingent upon terms. Amenable for discussion.

Competition:

Within 10 mile radius, Koi is reknown for the only sushi restaurant selling Buy One Get One (BOGO) Free sushi using high quality ingredients for pick-up and dine-in. We also have the largest selection of premium Japanese sake in the Triangle and we hold frequent sake tasting dinners for 20+ people at $150/pp. At the moment, there is only a newly opened restaurant serving Thai & sushi doing BOGO free sushi within a 3 mile radius and the other sushi restaurants in the downtown Raleigh and 5 mile radius do not offer BOGO free sushi. In addition to sushi, we do well in the ramen and hibachi categories.

Potential Growth:

We gained popularity during COVID as many restaurants were closed and/or had inconsistent operating hours; we remained open doing mostly carry-out and delivery . We have not done aggressive marketing but have relied on word-of-mouth about the quality and variety of our dishes and service to gain conversion, especially on NextDoor. Our clientele range from affluent to mid to upper middle class who understand value and quality. With more marketing focused on social media platforms, video campaigns, and loyalty programs, or even POS menu personalization, there is still plenty of growth and expansion opportunities to increase sales. As more people move into the area, our customer base is continually growing by finding us through Google search discovery (# 1 SEO ranking) and through word-of-mouth. We have built a strong returning customer base over the last 5 years while continuously converting new customers on a daily basis by providing convenience of ordering with online and mobile ordering. Our location in mid-town Raleigh and close proximity to North Hills benefits from getting a share of their attraction of tourists and out-of-towners, while preserving the feel of a neighborhood restaurant serving locals. 3 separate entrances and exits off Six Forks and Millbrook into the mall optimize traffic flow and easy access to the restaurant. Plenty of parking as well.