Listing ID: 66682

Business Overview

Two Parcels
3,120 SF +/- Building
11,606 SF +/- Land with Large Patio
Located in the Heart of Newport with High Visibility
2nd Oldest Continually Active Liquor License in the State of Washington
Original Custom Built Brunswick Bar From the Late 1800’s
Growing High Volume Sales Projected to be Roughly $1,000,000 in 2021
Kelly’s Restaurant and Bar has Been in Continuous Operation, in Some Form, Since 1894 in Newport, Washington

Financial

  • Asking Price: $1,000,000
  • Cash Flow: N/A
  • Gross Revenue: N/A
  • EBITDA: N/A
  • FF&E: N/A
  • Inventory: N/A
  • Inventory Included: N/A
  • Established: N/A

Detailed Information

  • Property Owned or Leased:Own
  • Property Included:Yes
  • Building Square Footage:3,120
  • Lot Size:N/A
  • Total Number of Employees:N/A
  • Furniture, Fixtures and Equipment:N/A

Why is the Current Owner Selling The Business?

There are all kinds of reasons people choose to sell operating businesses. However, the genuine factor vs the one they say to you may be 2 completely different things. As an example, they may claim "I have too many other responsibilities" or "I am retiring". For numerous sellers, these factors stand. But also, for some, these may just be reasons to attempt to hide the reality of changing demographics, increased competition, current reduction in incomes, or a variety of other reasons. This is why it is very vital that you not count completely on a vendor's word, but rather, utilize the vendor's response together with your total due diligence. This will paint an extra sensible picture of the business's existing circumstance.

Existing Debts and Future Obligations

If the current company is in debt, which numerous businesses are, then you will certainly have reason to consider this when valuating/preparing your offer. Numerous companies take out loans in order to cover things such as supplies, payroll, accounts payable, etc. Keep in mind that in some cases this can suggest that earnings margins are too thin. Many businesses fall into a revolving door of taking loans as a way to pay back other loans. In addition to debts, there may likewise be future commitments to take into consideration. There may be an outstanding lease on equipment or the building where the business resides. The business might have existing contracts with suppliers that need to be satisfied or might result in penalties if terminated early.

Understanding the Customer Base, Competition and Area Demographics

Exactly how do businesses in the location draw in brand-new clients? Often times, businesses have repeat customers, which create the core of their day-to-day revenues. Specific factors such as brand-new competitors growing up around the location, road building, and also employee turnover can affect repeat customers as well as adversely influence future earnings. One essential point to take into consideration is the location of the business. Is it in a highly trafficked shopping mall, or is it hidden from the highway? Obviously, the more individuals that see the business often, the better the possibility to construct a returning customer base. A last thought is the basic location demographics. Is the business located in a densely populated city, or is it located on the outside border of town? How might the neighborhood average house earnings effect future income prospects?