An established restaurant that earns an average of $450k each year and has been valued at $500,000 is up for grabs. The owner, Kyle Caballero, purchased Landeck Tavern, in Landeck, Ohio, in 2001. He remodeled, added a new bar area, banquet room, and an outside patio/bar and sand beach volleyball court.
Caballero is now offering his restaurant as first prize in an essay-writing contest. In 250 words or less, answer "Why I should own a restaurant."
About the Prize
•Landeck Tavern is an historic landmark establishment that has been in business for more than 75 years. The original restaurant was a converted streetcar.
•The restaurant has been valued at $500,000 and has averaged more than $450,000 in revenue the past nine years.
•The prize includes the restaurant, all land, buildings, equipment, inventory, and recipes associated with the business. This is a turn key operation, the current owner will even stay on after the awarding of the prize to help you learn during the transition period.
Why is Caballero Doing This?
"With the present banking situation, waiting for a buyer could take months ... I decided a contest was a great way for me to succeed in a short time period, while giving someone else the opportunity to live the American Dream."
For the $200 entry fee you get to explain in 250 words why you should own a restaurant. The winner gets Caballero's Landeck Tavern in Landeck, OH. They will start accepting entries on Monday, August 24, 2009.
The deadline is October 31, 2009 and the contest will be judged by "an independent group of journalists." You can check out more about it on his website winmyrestaurant.com. The winner will be informed on November 25, 2009. Be sure to read the official rules if you're interested.
Here's the video:
http://www.msnbc.msn.com/id/21134540/vp/32505851#32505851
Caballero is now offering his restaurant as first prize in an essay-writing contest. In 250 words or less, answer "Why I should own a restaurant."
About the Prize
•Landeck Tavern is an historic landmark establishment that has been in business for more than 75 years. The original restaurant was a converted streetcar.
•The restaurant has been valued at $500,000 and has averaged more than $450,000 in revenue the past nine years.
•The prize includes the restaurant, all land, buildings, equipment, inventory, and recipes associated with the business. This is a turn key operation, the current owner will even stay on after the awarding of the prize to help you learn during the transition period.
Why is Caballero Doing This?
"With the present banking situation, waiting for a buyer could take months ... I decided a contest was a great way for me to succeed in a short time period, while giving someone else the opportunity to live the American Dream."
For the $200 entry fee you get to explain in 250 words why you should own a restaurant. The winner gets Caballero's Landeck Tavern in Landeck, OH. They will start accepting entries on Monday, August 24, 2009.
The deadline is October 31, 2009 and the contest will be judged by "an independent group of journalists." You can check out more about it on his website winmyrestaurant.com. The winner will be informed on November 25, 2009. Be sure to read the official rules if you're interested.
Here's the video:
http://www.msnbc.msn.com/id/21134540/vp/32505851#32505851
