The Shumacher Group, Inc. just sold the East West Bistro is located 351 E Broad St, Athens, GA 30061 at the gates to UGA. The Shumacher Group, Inc. and Steve Josovitz represented Seller in transaction.
Some info on East West Bistro:
Available for the first time is a full service restaurant and bar just steps from the University of Georgia in Historic Downtown Athens. Click here to see this high density dynamic location. This iconic, famous, very popular and critically acclaimed restaurant has been in business almost 20 years. Owners are retiring and want to pass on the torch to someone with a different vision to take this to the next level. A new concept or format is totally acceptable or keep as is. Space is 7800/sf with seating for 350 includng stunning 20-seat bar and private banquet and dining room that has its own kitchen. Rent is 5% of Gross Sales with real estate taxes and real estate insurance at $22000 per year. Recent sales have been around $1.750,000 with 2011 sales coming in at $1,590,000 with a $62,000 net profit. 2012 gross sales ended for the year at $1,490,000 with net profit of $30,000 plus an additional amount for Owner personal insurance and miscellaneous expenses restaurant pays for. Owner only runs three shifts a week so a full time hands on owner operator could dramatically increase sales and profits with a little effort , energy and marketing. Net profit is after paying all expenses and a full loyal staff in place for easy transition. Front and back of the house management teams comes in at about $127,000 in salary. Owner is retiring but will provide full support and training included in sale to make for a seamless transition.
EAST WEST BISTRO RECEIVES NUMEROUS ACCOLADES FOR EXCELLENCE
These are just some of the countless accolades the East West Bistro has received over the years:
- Wine Spectator — “Award of Excellence” 1997–2010
- Best of Athens 1996 — Best appetizers, wine selection and most innovative menu
- Southern Distinction — Most loved restaurant
- Athens Banner-Herald Readers’ Choice — Best Bar (2005) and Best Martini (2004)
- Atlanta Cuisine — Top 75 (2007)
- Place — Taste your plate — People’s Choice winner — Best Tapas
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