Tiffin business seeks buyer for long-standing restaurant

Company asking $275,000 for equipment, inventory

TIFFIN, OHIO – Monday, Dec. 20, 2021 – Tiffin-Seneca Economic Partnership (TSEP) announced today that the owner of a long-standing Seneca County food and beverage establishment is wanting to retire and sell his business to another entrepreneur. Detailed information about this opportunity, codenamed “Project Thunder,” can be found on TSEP’s “Entrepreneurial Opportunity Clearinghouse” at tseoc.org. The opportunity will remain open from now until Feb. 21, 2022.

The business owner wishes to remain anonymous at this time and is seeking to sell the business as soon as possible. The owner is asking $275,000, which includes all equipment, furniture, tableware, and inventory. All equipment and furniture new within the past 10 years. Also included are $200,000 in transferable tax credits. Additionally, the business owner will provide support and serve as a resource to help the purchaser learn the business.

This business, located in Tiffin currently, has a monthly rent of $3,000 and currently employs 25 to 27 full- and part-time staff. Annual sales this year are $1.3 million, with a 6 to 8 percent profit margin. Pre-Covid it was $1.5 million.

Tiffin Mayor Aaron Montz stated his support of the project. “The Entrepreneurial Opportunity Clearinghouse has proven to be successful thus far, and I hope that investors will be interested in helping to see that this business continues to stay in Tiffin for many years to come.”

Eligible parties may include people wanting to run and/or own the business, but don’t have to be both. The Tiffin-Seneca Entrepreneurial Opportunity Clearinghouse (TSEOC), launched in April 2021, is designed to facilitate the flow of entrepreneurial talent and capital to new business start-up, franchise, and business acquisition opportunities. There may be investors that do not want to run the business but would be willing to invest if a competent entrepreneur and business manager could be found. Interested parties should contact David Zak, President & CEO of TSEP, at zak@tiffinseneca.org or by phone at 419.912.1150.

About the Tiffin-Seneca Economic Partnership

Started in 1983 as the Seneca Industrial and Economic Development Corp. (SIEDC), the Tiffin-Seneca Economic Partnership is a private, non-profit corporation dedicated to driving positive economic, downtown, and community development in Tiffin and Seneca County, Ohio, which consistently ranks among the top communities nationally for economic development. Learn more about the great things going on in Tiffin and Seneca County at www.tiffinseneca.org.

Leave a Reply