Great opportunity to own and operate the Purple Urchin Restaurant, a highly profitable and award winning seasonal restaurant in a fabulous location! This family-friendly restaurant has been treasured by locals for 25 years and has magnificent views of the Hampton Beach and the ocean. It has been voted Best of Hampton – Family Restaurants for ten years and has recently earned its place in the Hampton Business Hall of Fame. With a seating capacity of 154 customers, a festive atmosphere, excellent food, it is a favorite of many locals and tourist alike. Purple Urchin is a turnkey business with tenured management in place while only open six months a year. Annualize the sales and you are at over $1.7 Million with an Adjusted EBITDA of over $320,000.
Business Price: $499,000
Projected 2018 Revenues: $868,181
Furniture, Fixtures, & Equipment (FF&E): Approximately $300,000
Sellers Discretionary Income: $161,726
Real Estate: Leased
Facilities: Purple Urchin is located in Hampton Beach on the second floor of the Hampton Beach Casino Complex overlooking the Sea Shell Stage. The restaurant is situated on two large extensive decks with a roof that enables guests to sit outside even in the rain. The entire space is approximately 6000 Square Feet – 4100 for dining and about 1900 Square Feet for the kitchen. The restaurant has capacity for 154 people at a time (94 on one side and 60 on the other).Landlord willing to provide qualified buyer a 10 year lease (two five year options).
Competition: Purple Urchin is very popular and draws customers from surrounding towns and tourists visiting the seacoast. There are other restaurants in the area but not many that are family-friendly, consistently deliver high quality food at a reasonable price along with an amazing ocean view from almost every seat.
Growth & Expansion: There are many ways to increase the business of this already extremely popular restaurant. Extending service hours and opening the entire restaurant for breakfast, brunch, lunch and late night would significantly increase sales. Secondly, enhancing the take-out business and utilizing an on-line order system. Offering a grab-and-go retail option would likely be successful as customers could enjoy their favorite meals on the beach. Lastly, due to the popularity of the restaurant and ideal location, offering catering for events all over the seacoast – could make a dramatic impact. Currently, the business turns down almost all requests for catering.
Support & Training: Seller is willing to assist in support and training.
Reason for Selling: Retirement
One side of the Purple Urchin