History and Sale

Originally called Jake’s Club, The Lariat Restaurant and Lounge was built approximately 30 years ago by the late Jake Mathis and his wife, Avis, in the bedroom community of Velva. They and their children operated the club for a number of years before selling and pursuing business interests in nearby Minot. The business was renamed The Lariat Club and was operated by Joanne Markle and her daughters for nearly 20 years while her husband, Darryl, worked as a long-haul trucker. When the Markles retired in 2002, Lori and Lynn Brudevold purchased and remodeled the property.

The Lariat is being offered for sale by the current owners due to health problems. The Brudevolds stress that this is a profitable, well-established business that offers a promising future for a go-getter. Lori manages The Lariat while Lynn works as a crop consultant. The couple has two young children attending school in Velva. They plan on remaining in town, making them available to help make the transition a smooth one.

The sale includes the land, building, fixtures, inventory and name. Information as to the condition of the building and equipment is available. Due to privacy issues, the price and terms of sale are not included in this portfolio. Financial information will be disclosed to qualified buyers only.

Brief Description

The Lariat is an air-conditioned 7,420 square foot metal, clear span building with wood siding. The restaurant can accommodate 65 diners with the current table arrangement. A beautiful brick fireplace separates the lounge and restaurant. The lounge holds about 150 people and features a large L-shaped bar. Both rooms were recarpeted in 2000 and repainted in 2003. The small banquet room holds 12-15 people, and the large banquet room will host 50 people. For more details, see the floor plan and additional descriptions.

Business Climate

The Lariat is located in the lovely little town of Velva, North Dakota, just 20 minutes from Minot. It is a sit-down, family restaurant featuring breakfast, lunch, supper, catering and banquet facilities. There are two other bars in town, but The Lariat is the only one big enough to host bands and large groups.

The restaurant has exceptional growth potential and attracts local residents and diners from outside the community. The Lariat’s unique homemade soups and baked goods from scratch bring in new customers and keep the regulars coming back. The catering portion of the business is very promising as the restaurant ventures into more specialized menu options for weddings, reunions and company meetings. The Lariat also caters the meals to the local senior citizens center.

The lounge is popular with local business people and sports fans. Live music on a regular basis, as well as special events, such as football nights, NASCAR, snowmobile runs, a classic car show, Rocky Mountain Oyster feeds and a mechanical bull, attract patrons from miles away. The Lariat also sponsors several pool teams and hosts pool nights. Possibilities for the future include adding leagues for the bar’s electronic darts and shuffleboard.

The bar also offers charitable gaming, sponsored by the Velva American Legion. There is Bingo and Blackjack available Thursday through Saturday, and two pulltab machines are open daily during business hours. The off-sale portion of the lounge has been picking up with more aggressive marketing, and drink specials introduce patrons to new beverages.

The local economic development group is very aggressive and may be of assistance to a new business owner. In addition, there is a community bank and a credit union in town to provide local financial services. To find out more about these organizations, visit the city's website, Star City Online.