Offering Memorandum

Bonkers Restaurant810 North Navajo Drive, Page | Arizona

Accelerating Success.

KEVIN B. CALL, CPAVice President+1 928 440 5450kevin.call@colliers.com

Contact:

DENNIS KELLYSenior Vice President+1 928 440 5450dennis.kelly@colliers.com

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This Offering Memorandum contains select information pertaining to the business, affairs and assets of the company commonly known as Bonkers located at 810 North Navajo Drive, Page, Arizona 86040 (hereinafter the “Company”). It has been prepared by Colliers Inter-national.

This Offering Memorandum may not be all-inclusive or contain all of the information a prospective purchaser may desire. The information contained in this Offering Memorandum is confidential and furnished solely for the purpose of a review by a prospective purchaser of the Company. It is not to be used for any other purpose or made available to any other person without the written consent of Seller or Colliers International. The material is based in part upon information supplied by the Seller and in part upon financial information obtained by Colliers International from sources it deems reliable.

Neither Owner, nor their officers, employees, or agents makes any representation or warranty, express or im-plied, as to the accuracy or completeness of this Offering Memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto. Prospective purchasers should make their own projec-tions and form their own conclusions without reliance upon the material contained herein and conduct their own due diligence.

By acknowledging your receipt of this Offering Memorandum from Colliers International, you agree:

1) The Offering Memorandum and its contents are confidential;

2) You will hold it and treat it in the strictest of confidence;

3) You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or its contents in any fashion or manner detrimental to the interest of the Seller.

Owner and Colliers International expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to purchase the Company and to terminate discussions with any person or entity reviewing this Offering Memorandum or making an offer to purchase the Company unless and until a written agreement for the purchase and sale of the Company has been fully executed and delivered.

If you wish not to pursue negotiations leading to the acquisition of this Company or in the future youdiscontinue such negotiations, then you agree to purge all materials relating to this Company including this Offering Memorandum.

A prospective purchaser’s sole and exclusive rights with respect to this prospective transaction, the Com-pany, or information provided herein or in connection with the sale of the Company shall be limited to those expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims against Seller or Colliers International or any of their affiliates or any of their respective officers, Directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale of the Company.

This Offering Memorandum shall not be deemed to represent the state of affairs of the Company or constitute an indication that there has been no change in the state of affairs of the Company since the date of this Offering Memorandum.

Confidentiality and Disclaimer

BONKERS RESTAURANT BUSINESS SUMMARY

Well established and highly profitable restaurant opportunity in a fast growing tourist community. Located in the heart of the Grand Circle and within minutes of beautiful Lake Powell, Bonkers Restaurant in Page, Arizona is one of a kind and now available for purchase! The city of Page is the center point of the Grand Circle, a vast region of the Southwest that contains the largest concentration of national parks and monuments including Lake Powell, the Grand Canyon, Zion National Park, Bryce Canyon, Arches National Park, Monument Valley and Canyon De Chelly. This makes Page an ideal location for exploring the parks, along with the unique culture of the surrounding Navajo Nation. Page accommodations include 40 lodging facilities with approximately 3,000 rooms, RV parks and camping.

This exciting tourist location/market is expanding quickly and makes Bonkers a true, one of a kind purchase. You have a big winner when you combine the great food of Bonkers with a customer base from an area like Page.

The owners currently choose to operate March through October, Tuesday –Saturday for dinner only. This provides an excellent opportunity for revenue growth for new owners to expand

operating hours in a location that has over 3 million tourists a year visiting from all over the world or do what the current owner does take off and enjoy Lake Powell and travel all winter, your choice.

The food at Bonkers is always made from the highest quality and freshest ingredients. Making food from quality ingredients means that they know exactly what is going into all the food they make. From taste to presentation, they know the food that they bring to your table. All ingredients used come from suppliers that are trusted and have consistently high food standards. From fresh food and natural meats, you will know that the food you order will be high quality and delicious. Bonkers is well known and respected for their steaks, BBQ ribs, veal, chicken and various pasta dishes. The Bonkers name will allow a new owner to add any variety of dishes to the menu easily. The restaurant operates in a 3,114 square foot building on a 12,632 square foot lot. This location has excellent parking for RV’s, boat trailers and other recreational vehicles. You must see this restaurant to really appreciate what it has to offer. The real estate can also be purchased at appraised value or can be leased long-term for $4,000 per month.

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Growth & Expansion: Plenty of revenue growth available for Bonkers. New owners could open year around, seven days per week, and expand into lunch and catering.

Competition: Bonkers is the only American and Italian food restaurant in Page within walking and easy driving distance of several hotels. Bonkers has excellent social media reviews drawing business from all over the world.

Employees: 20

BONKERS RESTAURANT

Business Asking Price $649,000

• FF&E: $ 120,000

• Inventory: Not included in price, inventory will be taken at time of purchase and sold at owners’ cost. Estimated to be $8,000– $12,000.

• Support and training: The owner is willing to provide a transition period with the new owner.

• Location: A successful restaurant location since 1980.

• Reason for selling: Time to retire after owning and operating Bonkers for over 20 years.

• Website: www.bonkerspageaz.com

BONKERS RESTAURANT

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BONKERS RESTAURANT INVENTORY

Traulson two door refrigerator McCall three door freezer Victory two door refrigerator Two door salad with storage Foster walk-in refrigerator Maxx two door refrigerator Vulcan/Superior six burner broiler/grill Southbend six burner convection oven Aerohot three compartment steam table D.C.S. two burner table top Hobart H600 w/mixing bowl and attachments American dish service automatic dishwasher w/attached tables Two 3 compartment stainless steel sinks, 1 prep, 1 dish Hand wash/mop sink Three Amana microwaves Superior two basket deep fryer Cres Cor proofing box Two stainless steel butcher block tables, 30 x 96 and 30 x 72 Manitowoc ice machine 750 lb. capacity Stainless steel table for dish area 30 x 72 Stainless steel table w/wheels for line 24 x 72 Stainless steel table for line (saute pans, etc.) 18 x 72 Stainless steel table for dishes and calculators 18 x 51 Stainless steel table for cooks line 14 x 32 (2) Stainless steel table in server beverage area 16 x 78 Stainless steel table in server area for glasses 30 x 44 Stainless steel table 2 shelves/storage unit on cooks line 24 x 60 Stainless steel table back line/prep (black/stainless) Stainless steel table (square)

Dish table for scraping Adcraft convection oven Vollrath 11 quart soup warmer Patio ta-bles (8) with chairs (34) Three wrought iron/wood benches Curtains in dining room Dining room tables (24) Dining room chairs (85) Bar stools (8) Murels paintings in dining room Wall pictures-Jackson Bridges (5) Cash register Pager system with 10 pagers Espresso machine Draft beer cooler/four drafts Plants, trees (artificial) Menu stand (outside) Two bookshelves Office desk (2) w/chairs (2) Two drawer filing cabinet Office wall wine rack Stereo (2) with six speakers and CDs Highchairs (2) Booster chairs (3) Floor rugs (4) Step stool 10’ ladder Utility carts (3)

BONKERS RESTAURANT INVENTORY- continued

Wet floor signs, mop bucket, cleaning supplies, brooms, mops, dustpans, floor carpet sweeper (1), vacuum (1)Garbage cans (5), back yard (3) Small garbage cans (5), bathrooms, office, hostess stand Wine buckets (2)/(2-marble) and wine stands (2) Cutting boards (11) with racks, small cutting boards (8), mini (4)Large serving trays (9), small serving trays (12) Bus tubs, black (12), gray (3)Chrome jack stands (6) Kitchen jack stands (2) Poly carb napkin bins-kitchen (5) Walk-in refrigerator racks (3) Wall rack for dry storage Large baking sheet pans (23) Round roll pans (7) Half baking sheets (20) Quarter baking sheets (12)Line stools (2)

All clear and black plastic containers and lidsCrock pots (3), sternos w/pans and lids (2), punch bowl All kitchen utensils, kitchen knives, colanders, sauté pans (8”, 10”, 12”, 16”),oven baking plates, bowls, stock pots, saucepans Rare bits 15, 12, and 8 oz.Fiestaware: platters ($22.00 each), pasta bowls ($22.00 each), dinner plates 10” ($15.00 each), soup bowls ($10.00 each), bouillon cups ($6.00 each), bread plates ($5.00 each), salad plates ($7.00 each), coffee cups ($6.00 each) Palm silverware-knife, fork, salad fork, spoon, soup spoon Wine glasses, water glasses, beer glasses, carafes, punch glasses, clear salad plates, clear appetizer plates, clear finger bowls, bread basketsCork board, office supplies, desk lamps (2), phones (3), back up phones (2), painting in officeDishwashing racks and chemicalsChemical rack in office

*MISCELLANEOUS THAT IS NOT LISTED: kitchen, front of house, office

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MARKET OVERVIEW: PAGE, ARIZONA

Page is located in Northern Arizona on the southern shore of Lake Powell. The lake and adjacent Navajo Nation with its cultural and natural, pristine beauty are major attractions for recreation and tourism. The city is located five hours north of Phoenix, five hours east of Las Vegas, and just south of the Utah border. It is easily accessible by car, bus, plane and even helicopter. Page Municipal Airport offers flights to and from Phoenix and Denver. Helicopter service is operated by several tour companies.

Page is a center point to the Grand Circle, a vastregion of the Southwestern United States that

contains the largest concentration of national parks and monuments including Lake Powell, the Grand Canyon, Zion National Park, Bryce Canyon, Arches National Park, Monument Valley and Canyon De Chelley. This makes Page an ideal location for exploring the parks, along with the unique culture of the surrounding Navajo Nation.

Lake Powell, created when Glen Canyon Dam was built along the Colorado River, has become a major recreational area with more than 3 million visitors a year.

Along with Lake Powell, the immediate area around Page offers its own attractions with world famous Horseshoe Bend and many slot canyon tours.Located in Northern Arizona four miles from the city of Page, Arizona and seven miles upriver from the beginning of the Grand Canyon National Park, Horseshoe Bend is the number one tourist spot in the area. In 2017 roughly 1.5 million people visited the area to see the remarkable vistas and geological formations formed by the Colorado River just below the overlook. In 2018 Horseshoe Bend had close to 3 million visitors. The dramatic rise in the number of tourists visiting the site speaks to a steady tourism growth trend for the area.

Widely photographed and highly memorable Horseshoe Bend is a spectacular image of the American Southwest. Because of the clear view of the canyon and river below, Horseshoe Bend gives the visitor a more accessible experience with the Grand Canyon and Colorado River than can be viewed from anywhere along the rim of the national park.In addition to recreation and tourism, other major contributors to the Page economy include the Salt River Project’s Navajo Generating Station and the U.S. Department of the Interior. Glen Canyon National Recreation Area (which includes Lake Powell) falls under the administration of the National Park Service and Glen Canyon Dam is managed by the U.S. Bureau of Reclamation

Page is adjacent to the Navajo Nation, the largest Native American tribe with lands extending into Northern Arizona, Southern Utah, and Northwestern New Mexico. The reservation covers an area of more than 27,000 square miles, with about 300,000 tribal members. Much of the reservation population retains their traditional lifestyles and cultural heritage.

Lake Powell is the major recreational draw to the City of Page. The lake’s shoreline is nearly

2,000 miles long, which is longer than the west coast of the continental United States. It includes 96 major canyons, some of which are 15 to 20 miles in length, making for even more exploring opportunities. Rainbow Bridge, on the edge of Lake Powell, is the largest natural bridge in the world and can only be reached by boat through these canyons or by hiking on the Navajo reservation by permit only.

As a major tourist destination Page accommodations include 40 lodging facilities with approximately 3,000 rooms, RV parks and camping.

City of Page statistics reported for 2017 show $60 million spent on lodging for the area (based on Page lodging tax revenue). Glen Canyon area tourists spent $361 million with an economic impact of $425 million.

MARKET OVERVIEW: PAGE, ARIZONA

Colliers International | Arizona1150 N. San Francisco Street

Flagstaff, AZ 86001 P: +1 928 440 5450

KEVIN B. CALL, CPAVice President+1 928 440 5450kevin.call@colliers.com

Contact:

DENNIS KELLYSenior Vice President+1 928 440 5450dennis.kelly@colliers.com

City of Page, Arizona

Bonkers Restaurant

Lake Powell