Listing ID: 66587
Business Overview
This is a turn key opportunity with a manager, one bar lead and an amazing staff in place already in place. The establishment has been a welcoming lunch destination in the downtown corridor it serves for more than 20 years. Each Monday through Saturday they serve at least five different fresh, homemade soups, and bake loaves of their famous beer bread to go along with it! They also offer a tasty selection of croissant sandwiches and made-to-order salads. During the day they offer efficient cafeteria-style counter service so customers can take their order back to the office or sit in their dining room and stay a while. The crew creates about 20-30 different soups throughout the week and the soup selection and daily specials can be found on their Facebook page.
During the evening the establishment transforms into a lounge. The lights dim and the candles flicker — sometimes the disco ball gets in on the action, too! The soup counter becomes part of the bar, and guests are invited to take a seat in the dining room where they are served at their table. Nights in the lounge are all about relaxing in a cozy hideaway. Innovative DJs, amazing live musicians and engaging trivia hosts add a little extra flavor to guests’ experience. A wide variety of beer, wine and cocktails, along with daily drink specials, are all part of the fun.
Financial
- Asking Price: $200,100
- Cash Flow: $53,368
- Gross Revenue: $519,730
- EBITDA: N/A
- FF&E: $34,552
- Inventory: $4,000
- Inventory Included: Yes
- Established: 2001
Detailed Information
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:4
- Furniture, Fixtures and Equipment:N/A
Standalone building located in the heart of the downtown market it serves. The leased space includes 1,380 sq. ft. on the main floor and 500 sq. ft. in the basement. The current lease expires on November 30, 2025.
Will train for 2 weeks @ $0 cost. Products and services: Fresh homemade soups, baked bread, sandwiches and made-to-order salads with beer, wine and cocktails available in the bar. Licenses Required: City of Spokane Business License, License with the Spokane Regional Health District, Washington State Business License and Washington State Liquor License. Skills Required: Prior restaurant experience a must.
Seller is relocating out of the state for another business opportunity.
While their are other eateries in the neighborhood this establishment fills a niche as evidenced by its followers comments on Facebook: "Excellent soups great value, and community minded. you just can't go wrong by going here." "They have great customer service! The food is absolutely AMAZING. Love this place!" "Best soup ever!!! Highly recommend trying the jalapeño popper soup!" "Best soup ever!!! Highly recommend trying the jalapeño popper soup!" "Always awesome!!!! I have never been disappointed! Love their soups!!" "Some of the best homemade soups we’ve ever tasted. We had the Jalapeño Pepper, Tomato Bisque, Salmon Corn Chowder, and Beer Cheese soups. (We couldn’t make up our minds!) All delicious- with warm beer bread, too."
Growth opportunities exist in extending the evening hours beyond 8:00 PM, integrating the company's social media marketing with direct mail to clients already in their database and promoting their evening hours.
Additional Info
The venture was started in 2001, making the business 21 years old.
The transaction will include inventory valued at $4,000, which is included in the asking price.
Why is the Current Owner Selling The Business?
There are all kinds of reasons why people decide to sell businesses. Nonetheless, the true reason vs the one they say to you may be 2 absolutely different things. For instance, they may say "I have way too many various responsibilities" or "I am retiring". For lots of sellers, these reasons are valid. But, for some, these might just be excuses to try to hide the reality of transforming demographics, increased competition, recent reduction in revenues, or a range of various other reasons. This is why it is very crucial that you not count absolutely on a vendor's word, but instead, use the seller's response together with your overall due diligence. This will paint an extra reasonable picture of the business's present situation.
Existing Debts and Future Obligations
If the existing business is in debt, which lots of companies are, then you will certainly have reason to consider this when valuating/preparing your deal. Many businesses borrow money in order to cover items like supplies, payroll, accounts payable, etc. Keep in mind that sometimes this can indicate that profit margins are too small. Lots of companies fall under a revolving door of taking on debt as a way to pay back other loans. In addition to debts, there may additionally be future obligations to think about. There may be an outstanding lease on equipment or the building where the business resides. The business may have existing contracts with suppliers that should be satisfied or might cause charges if canceled early.
Understanding the Customer Base, Competition and Area Demographics
How do companies in the location draw in brand-new consumers? Most times, businesses have repeat clients, which create the core of their everyday profits. Particular aspects such as brand-new competitors growing up around the area, road building, as well as personnel turn over can influence repeat consumers and also adversely affect future incomes. One crucial point to think about is the location of the business. Is it in an extremely trafficked shopping center, or is it hidden from the highway? Obviously, the more individuals that see the business regularly, the greater the opportunity to build a returning consumer base. A last thought is the basic location demographics. Is the business located in a largely populated city, or is it situated on the outside border of town? Just how might the local typical house income effect future earnings prospects?
