Listing ID: 66738
This food cart business has served the major festivals and events in the greater Seattle area for the past 10 years. They have not participated in any events since Covid-19 shut all events down.
This business has built an excellent reputation at the Seattle area festivals and has won many awards including:
– Bite of Seattle 2013 -Third place best side dish
– Bite of Seattle2014 – Second place best side dish
– Taste of Tacoma 2015 – First place best side dish
– Taste of Edmonds – First place 4 times best side dish
* Winner of many prestigious awards at the top festivals and events in Washington.
* Large and avid fan base who return year-after-year for their award winning food items.
* Long-standing entry into many of the biggest and best events.
$46,000 for all business assets including all equipment, recipes, booth, banners and signs, contacts for all festivals and events they have participated in, web site, etc.
- Asking Price: $46,000
- Cash Flow: N/A
- Gross Revenue: N/A
- EBITDA: N/A
- FF&E: $15,000
- Inventory: N/A
- Inventory Included: N/A
- Established: N/A
Seller will negotiate a transition period
This Business Is Home Based
Why is the Current Owner Selling The Business?
There are all sorts of reasons why people decide to sell businesses. Nevertheless, the genuine reason and the one they tell you may be 2 entirely different things. As an example, they might state "I have a lot of various commitments" or "I am retiring". For numerous sellers, these reasons are valid. But, for some, these might simply be reasons to attempt to conceal the reality of changing demographics, increased competition, recent reduction in revenues, or a range of various other reasons. This is why it is very crucial that you not depend completely on a seller's word, but rather, make use of the vendor's answer along with your overall due diligence. This will repaint a much more realistic image of the business's present circumstance.
Existing Debts and Future Obligations
If the existing business is in debt, which numerous businesses are, then you will certainly need to consider this when valuating/preparing your offer. Many businesses finance loans in order to cover points like inventory, payroll, accounts payable, etc. Keep in mind that sometimes this can mean that profit margins are too small. Many organisations fall under a revolving door of taking on debt as a way to pay back other loans. Along with debts, there may also be future commitments to think about. There might be an outstanding lease on equipment or the structure where the business resides. The business may have existing agreements with vendors that should be satisfied or might lead to penalties if terminated early.
Understanding the Customer Base, Competition and Area Demographics
How do companies in the area bring in brand-new clients? Often times, operating businesses have repeat customers, which form the core of their day-to-day revenues. Particular aspects such as new competition sprouting up around the location, roadway construction, and also employee turn over can impact repeat consumers and also adversely influence future incomes. One important point to take into consideration is the location of the business. Is it in a very trafficked shopping mall, or is it concealed from the highway? Obviously, the more people that see the business on a regular basis, the greater the opportunity to develop a returning client base. A last idea is the basic area demographics. Is the business located in a largely populated city, or is it situated on the outside border of town? Just how might the regional mean home income influence future income prospects?