Listing ID: 66664
The only way to accurately describe this escape room business is “Best in Class”. This is a business which is very fun to operate and is assured to give almost every customer a big smile and a memorable experience. There are four escape rooms with room for a fifth, and a mobile room for taking the business on the road for promotional and customer events. The individual rooms are themed and appointed with extensive state of the art technology and equipment to provide guests with a level of experience they just cannot get at other escape rooms. This business is located in a friendly area with a broad-spectrum customer base. There are many restaurants in the area and significant nightlife activity to support both pre-function and post-function fun for all guests. If you are interested in obtaining more information on this fun and unique business opportunity, please follow this link to complete and submit the required non-disclosure agreement (NDA). http://soundbusinessbrokers.com/nda/ To connect directly with the broker after submitting your NDA, please call Charles Morningstar at 253-606-3788.
- Asking Price: $398,500
- Cash Flow: $97,500
- Gross Revenue: N/A
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 2017
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:3,000
- Lot Size:N/A
- Total Number of Employees:5
- Furniture, Fixtures and Equipment:N/A
Currently four themed escape rooms with room for a fifth. There is also a mobile room. The business currently uses 2,643 sq. ft. of the rentable 3,019 sq. ft. These escape rooms extensively utilize technology and equipment providing guests with the most advanced and enjoyable experience in the region. The equipment in all the rooms is maintained meticulously and can continue to produce for years to come.
Seller is willing to remain for a transitional training period; terms to be negotiated.
The only real con at this time, is the effect of the pandemic. The escape room market is very hot both locally and nationally. This business is located in a very friendly and clean area and is surrounded by significant client base and also draws in guests from all areas of the Puget Sound region. Some guests are from out of town.
There is space for a fifth room. While the business is holding its own through the pandemic, the spectrum of growth strategies is broad. This business appeals to individuals, groups of friends, corporate clients, virtually all types of people enjoy an escape room experience.
The business was founded in 2017, making the business 5 years old.
The business has 5 employees and resides in a building with estimated square footage of 3,000 sq ft.
The building is leased by the company for $0.00
Why is the Current Owner Selling The Business?
There are all kinds of reasons individuals decide to sell operating businesses. However, the real reason and the one they tell you may be 2 totally different things. As an example, they might claim "I have too many other responsibilities" or "I am retiring". For many sellers, these reasons stand. But, for some, these may simply be reasons to try to conceal the reality of transforming demographics, increased competitors, current decrease in earnings, or a range of other reasons. This is why it is extremely essential that you not rely absolutely on a seller's word, yet instead, make use of the seller's response combined with your overall due diligence. This will repaint a more reasonable picture of the business's present situation.
Existing Debts and Future Obligations
If the existing business is in debt, which lots of businesses are, then you will certainly need to consider this when valuating/preparing your offer. Lots of companies take out loans with the purpose of covering items such as supplies, payroll, accounts payable, etc. Bear in mind that sometimes this can suggest that earnings margins are too small. Many organisations come under a revolving door of taking loans as a way to pay back other loans. In addition to debts, there may likewise be future obligations to consider. There may be an outstanding lease on tools or the building where the business resides. The business may have existing contracts with suppliers that have to be met or might lead to fines if canceled early.
Understanding the Customer Base, Competition and Area Demographics
How do companies in the location draw in new customers? Many times, businesses have repeat customers, which create the core of their daily earnings. Specific aspects such as brand-new competition growing up around the area, roadway construction, and employee turn over can impact repeat consumers and negatively impact future incomes. One important thing to consider is the location of the business. Is it in a highly trafficked shopping center, or is it hidden from the main road? Certainly, the more people that see the business regularly, the better the possibility to develop a returning customer base. A last thought is the general location demographics. Is the business placed in a densely populated city, or is it located on the outside border of town? How might the neighborhood mean house income impact future revenue potential?