Listing ID: 66746
Business Overview
Beautiful Capitol Hill Location with full-service restaurant and bar built for a Top Chef! Amazing type I hood, large walk-in cooler, beautiful NW feel with clean lines, outdoor seating, and U-shaped bar. One could keep current concept or bring your own. Long term lease with no demo clause. Great location for delivery, dine-in, or take-out. There are 100’s of new housing units surrounding in a great walking community.
Financial
- Asking Price: $195,000
- Cash Flow: $10
- Gross Revenue: N/A
- EBITDA: $1
- FF&E: $250,000
- Inventory: N/A
- Inventory Included: N/A
- Established: 2012
Detailed Information
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:2,336
- Lot Size:N/A
- Total Number of Employees:7
- Furniture, Fixtures and Equipment:N/A
Newer construction with ta kitchen built for a chef! Large walk-in cooler, type I hood, great prep space and much more! Quaint bar and dining. If one was to increase to go sales this would not interrupt dining customers as they would not see additional activity.
If you want to keep same concept seller will train.
Family
Prime area on Capitol Hill Surrounded by massive amounts of new construction
Additional Info
The business was established in 2012, making the business 10 years old.
The business has 7 employees and is located in a building with disclosed square footage of 2,336 sq ft.
The property is leased by the business for $7,017 per Month
Why is the Current Owner Selling The Business?
There are all kinds of reasons individuals resolve to sell businesses. Nonetheless, the true reason and the one they say to you might be 2 completely different things. For instance, they may claim "I have too many other commitments" or "I am retiring". For numerous sellers, these reasons stand. But also, for some, these may just be justifications to attempt to conceal the reality of changing demographics, increased competition, recent decrease in revenues, or an array of various other factors. This is why it is extremely vital that you not rely entirely on a seller's word, however rather, make use of the seller's response along with your total due diligence. This will paint a much more reasonable picture of the business's current scenario.
Existing Debts and Future Obligations
If the existing business is in debt, which lots of companies are, then you will have reason to consider this when valuating/preparing your offer. Numerous operating businesses finance loans with the purpose of covering things like supplies, payroll, accounts payable, and so on. Bear in mind that sometimes this can suggest that profit margins are too tight. Many organisations come under a revolving door of taking loans as a way to pay back other loans. In addition to debts, there may additionally be future commitments to take into consideration. There might be an outstanding lease on equipment or the building where the business resides. The business may have existing contracts with vendors that need to be met or may lead to penalties if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do businesses in the area attract brand-new clients? Often times, businesses have repeat clients, which develop the core of their daily revenues. Certain variables such as brand-new competition growing up around the area, roadway construction, and also staff turnover can influence repeat consumers and also negatively affect future profits. One crucial thing to think about is the location of the business. Is it in a very trafficked shopping mall, or is it hidden from the highway? Obviously, the more individuals that see the business regularly, the better the chance to develop a returning consumer base. A last thought is the general location demographics. Is the business located in a largely inhabited city, or is it located on the outskirts of town? Exactly how might the regional mean home income impact future income potential?
