Wednesday, December 22, 2010

What New Tex-Mex Restaurant Is For Sale?

A commentor pointed out this Craigslist advertisement that offers to sell a three-month-old Tex-Mex restaurant in Howard County:

Jump on this opportunity to take over this profitable Tex Mex restaurant in up-and-coming neighborhood. All new owned equipment comes with the sale. Plenty of parking in shopping center. Restaurant has been open 3 months and is already showing great income. 
The asking price is $380,000. The revenues are $550,000. The annual profit is $180,000. This business is located in Howard County. 
If you are interested in receiving more information about this business, please contact me and include your phone number. 

Mark asked in the comment if this was El Hidalgo in Elkridge.  I think El Hidalgo has been opened a little more than three months, so this could be another place.  El Hidalgo has gotten nice comments from people on old posts. Basically, people the service is spotty to bad, but the food was delicious.  The Sun's Rob Kaspar talked up a Mexican dish called tlcolyos, and it has been on my list of places to try.

(Update: That first ad appears to have been deleted.  But you could also buy this restaurant site on U.S. 1 in Elkridge -- whose name may be the Buttermilk Hill Tavern.  Anyone know more?)

6 comments:

Steve Fine said...

Sounds too good to be true. They say they are selling a business that generates $180,000 a year in profits for $380,000? If it were true, they would be crazy to sell at that price.

HowChow said...

I wondered about the price, although I don't have any experience selling restaurants.

Anonymous said...

180K is the cash flow, not the profit. This has been listed on business broker website for quite a while as well. Not all on the internet as we know is factual.

Anonymous said...

Or ... the place just north of Buttermilk Hill that did Italian (Pecoraro's, we hardly knew you) then Japanese then Tex-Mex.

It's a little too close to the Mont. Rd. intersection to be able to get in/out of parking lot safely.

KB

Mo said...

The old Buttermilk Tavern is off of route one, north of Montgomery road and south of the 195 junction/park entrance... it's sort of on the crest of a hill. It's been vacant for a really long time. The ad, of course, talks it up... We never went there when it was open, but it seemed to me like a poor location - the small parking lot is difficult to enter/exit... but I'm not sure that the location is good, either. Another restaurant space just south of there has been in steady open/closed rotation for years. Daniel's is just down the road, too, which would take up much of the bar-going traffic.

kam said...

Man, I hope it's not El Hidalgo. :/ I like it there, and the service has definitely gotten better lately. The people are really nice, too. They have been open since the summer, but the three month part of the ad might have been accurate when it was first posted. Not sure about the whole "up and coming" part, too, since Lyndwood seems fairly well-established (the newest development being the shopping center that has El Hidalgo/Pazani/Katana and then another one with a liquor store/cleaners/incoming Dominos Pizza).

On the other hand, it seems a better match for the ad than the aforementioned place on Route 1, which has been a Tex Mex place for at least a couple of years now, I think. Definitely longer than it was Japanese.

~Kate