Business Opportunity: Rabab’s
For Sale: Details
Business sale price: $65,000
Building under lease, not for sale. Current lease expires in three years with an option to renew.
Equipment and furniture included in sale.
2605 Nature Center Road
Spirit Lake, IA 51360
- Large customer per sq. ft. seating
- Front and back patio with beautiful views
- 20+ parking spaces
- Handicap accessible
- Efficient kitchen
- POS system
- Two fireplaces
- Banquet room
- Stand-alone bar
- Easy truck delivery
- Highway electric signage
- Well-maintained commercial equipment
- Heavy duty shelving in basement
- Fully furnished
- Beautifully decorated
Business opportunities like this one don’t come around often.
Rabab’s in Okoboji is for sale and ready to go as soon as you are.
For $65,000, this coffee shop and bistro business is a turnkey opportunity with a great track record that a determined, hard-working person could continue.
“It’s 100% turnkey,” said current owner Rabab Koepp. “They don’t need to buy anything other than food and get their licenses.”
Koepp has had the business at 2605 Nature Center Road in Spirit Lake for three years. Before that, it was Prairie Chick, another popular bistro operation. This year marks the ninth year the business has been a coffee shop, so it’s well-established and well-regarded in the lakes area community.
But Koepp said the buyer could change the business if they wanted to.
“It doesn’t have to stay a coffee shop,” Koepp said. “If somebody has a different vision, that’s OK. But that’s what the opportunity is right now and it’s a proven business model.”
In addition to that proven business model, Koepp said Rabab’s is a great hangout where people can gather and have fellowship.
“It’s a comfortable place to walk into and instantly feel welcomed,” she said.
Though the building itself is not for sale – only the business – the buyer would also receive with that price all the equipment and a fully furnished interior.
“They can take off,” Koepp said. “This is something that they can put the key in the door and absolutely take off with it.”
Inside, there is a large seating area for customers, two fireplaces, a banquet room and a stand-alone bar. Outside, the property features a front and back patio with beautiful views and 20-plus parking spaces. The building is also handicapped accessible.
However, perhaps one of the greater perks of the deal is that Koepp would agree to help with the transition and training for a short period of time at no cost to the buyer. She has worked in the restaurant business in the lakes area for over 10 years, building a brand on great customer service and quality food.
Koepp said the next buyer would need to focus on those aspects, too.
“I want to pass the baton to someone who is driven, excited, ethical, hard-working,” Koepp said.
Since it already has an established brand and is ready to go from day one, Rabab’s could be the right opportunity for that type of person.
Plus, if the buyer’s OK with putting in the work, they’ll get to enjoy afternoons off – something that’s especially appealing in an area like Okoboji.
There also is plenty of opportunity to cater or book private events in the evenings, as the coffee shop is closed by then.
“Where else you can go, have a profitable operation, work from 5 o’clock in the morning to 2 o’clock in the afternoon, have the rest of your day off? And you’re still having a profitable operation?” Koepp said.
Anyone interested in learning more about this lakes area business opportunity should contact Ingvall Real Estate.