Recommended Listing Price$299,900

Notchview Country Kitchen

Background Information

This business has been in existence since 1987 under the current ownership. It operates as a Partnership. The commercial real estate, including the building and .3 acres, is owned by the partners of the commercial business.

The Notchview Country Kitchen is a popular family breakfast and lunch restaurant located in the heart of the White Mountains National Forest, on scenic Route 3 in Lincoln. Frequented by loyal locals and visitors alike, the Notchview Country Kitchen focus is on providing good, homemade food at a great value. Breakfast is their specialty, with many ethnic recipes represented on the menu or as daily specials.

The Industry

The restaurant industry in the Lincoln-Woodstock area is seasonal, as it sits in the heart of New Hampshire’s White Mountain region, a popular tourist destination. When the tourists are here (June through October and December through March, roughly), the restaurant is very busy daily in the summer, weekends in the winter, and school vacation periods. During the off season and winter midweek periods, the restaurant needs to rely on its local clientele, which is extremely loyal to them. Restaurants which specialize in breakfast generally seem to fare better than full service lunch and dinner restaurants as their average check is much lower and therefore not as negatively impacted by a price conscious public. Also, food costs are lower, and in the case of the Notchview Country Kitchen, labor costs are low as the entire family pitches in to help when needed.

For further information on the state of the restaurant industry in Lincoln-Woodstock and New Hampshire, contact the following entities:

Lincoln-Woodstock Chamber of Commerce
P.O. Box 358
Kancamagus Highway
Lincoln, NH 03251
603-745-6621
www.lincolnwoodstock.com

New Hampshire Lodging and Restaurant Association
P.O. Box 1175
14 Dixon Avenue, Suite 208
Concord, NH 03302
603-228-9585
www.nhlra.com

Location

Notchview Country Kitchen is located in what is considered North Lincoln, on Route 3, north of Interstate 93, a well traveled scenic road heading into Franconia Notch State Park. The “strip” is home to hotels, motels, restaurants, and attractions. The area is also a popular destination year round for its hiking, biking, swimming, winter activities, foliage, and other attractions, both man-made and natural, that the White Mountain National Forest has to offer.

Physical Condition

The restaurant is housed in an old, but well-maintained building. The restaurant features a dining room, front desk/welcoming area, kitchen, dish room, dry storage room, restrooms, and basement storage. All furniture, fixtures, and equipment are in good to excellent shape. The public areas of the restaurant are clean, well maintained, comfortable, and appealing to customers.

Reason for Selling & Other Facts

The owners have been operating the business for 20 years, and are ready to do something else with their lives. They were able to provide for their families through the business, but as their families have grown and left the area to seek their own opportunities, the decision to pursue something new was reached recently. There is not as much a need to sell as there is a desire to move on to something different.

The current owners are willing to stay on and train for two weeks after the transfer of the business at no charge and there is the possibility that one of the owners may be willing to stay on as an employee in the right situation. Also, the owners are willing to sign a non-compete for 5 years and 10 miles.

Inventory of Furniture, Fixtures & Equipment

  • Hobart Side-by-Side Reach-In Refrigerator
  • Glenco Side-by-Side Reach-In Refrigerator
  • Glenco Side-by-Side Reach-In Freezer
  • Garland 6 Burner Stove
  • Star Belgian Waffle Iron
  • Cecilware 2 Basket Fryer
  • Star 36″ Gas Grill
  • Star 24″ Gas Grill
  • Exhaust Hood, Fan, and Ansel System
  • Microwave Oven
  • 2-Bay Sink
  • Hand Sink
  • Grease Trap
  • Hobart Dish Washer
  • Stainless Steel Tables-2
  • Utility Sink
  • Hotpoint Chest Freezer
  • Table Sink and Sprayer
  • Tray Racks-6
  • Bunn Pour Through Coffee Maker
  • Kenmore Counter Refrigerator
  • Star Under-Counter Refrigerator
  • 2-Bay Under-Counter Sink
  • Air Conditioners-2
  • Hobart Slicer
  • All tables, chairs, flatware, silverware, pots, pans, serving utensils, glassware, mugs, bowls, condiment containers, knives

The approximate total fair market value of the Furniture, Fixtures and Equipment as estimated by the Sellers is $40,000.

Inventory

The approximate total fair market value of the dry goods, paper goods, and fresh and frozen consumables to be left at the time of sale is $3,000. An inventory of all the items should be taken at the time of closing and the value adjusted (up or down) depending upon the results.

Hours of Operation/Employees

The restaurant is open from 7:00am to 2:00pm. Specific days open varies by season. This business has always been operated by family. When the restaurant is at its busiest, it takes 6 part-time employees to operate this business effectively.

Size of Facility

The entire building is plus or minus 1845 square feet, all on one level, with an unfinished basement. The seating capacity of the restaurant is 50. There is parking on property for 25 cars.

Annual Sales Volume

Available upon completing a Confidentiality Agreement.

Gross Profit Margin

Available upon completing a Confidentiality Agreement.

Expenses

Available upon completing a Confidentiality Agreement.

2003-2005 Profit and Loss Statements

Available upon completing a Confidentiality Agreement.

Ways to Improve the Business

Positive revenue results could be immediately realized with extended hours during the day, and operating more days of the week. The current owners have toyed with opening for dinner, offering family style meals with either a full liquor license or a beer and wine license. They still feel that this strategy would positively impact overall revenues and profitability and feel that a new owner may have the energy to pursue it.

The current owners also believe that by expanding their marketing to local motels, campgrounds, and cabins that don’t serve meals, they would increase business. They’ve also always thought to pursue some type of billboard sign closer to 93, directing more visitors their way.

Recommended Listing Price (RLP)

The RLP justification for this business is as follows:

The business has Gross Revenues of: *
The business has a cost of goods sold of: *
The business has a Gross Profit of: *
The business has Sellers Discretionary Earnings of: *
Salable Inventory at Cost: $3,000
Furniture, Fixtures and Equipment: $40,000
Real Estate: $220,000
  TOTAL RLP: $299,900

*Available upon completing a Confidentiality Agreement.