Listing ID: 66872

Business Overview

Historic local eatery now available. So well known that you have probably used it as a landmark while trying to give someone directions. A full bar, beer garden and dining room make this restaurant uniquely positioned for family dining and the bar crowd. 2020 was tough for everyone in the industry. While some struggled to stay afloat this operator doubled down and invested into the building with multiple upgrades. The interior is almost unrecognizable from what it once was. The location alone is worth the purchase price not to mention the loyal customer base. This will not stick around, reach out for an NDA so we can discuss in detail.

Financial

  • Asking Price: $148,000
  • Cash Flow: $90,590
  • Gross Revenue: $942,225
  • EBITDA: $90,590
  • FF&E: N/A
  • Inventory: N/A
  • Inventory Included: N/A
  • Established: 2018

Detailed Information

  • Property Owned or Leased:N/A
  • Property Included:N/A
  • Building Square Footage:3,400
  • Lot Size:N/A
  • Total Number of Employees:21
  • Furniture, Fixtures and Equipment:N/A
About The Facility:

Fully Equipped Kitchen & Bar with indoor capacity of 76. Large outdoor space with seating.

Pros and Cons:

Location alone eliminates any direct competitors

Additional Info

The business was established in 2018, making the business 4 years old.

The business has 21 employees and resides in a building with disclosed square footage of 3,400 sq ft.
The real estate is leased by the company for $3,530 per Month

Why is the Current Owner Selling The Business?

There are all sorts of reasons people choose to sell operating businesses. Nevertheless, the genuine reason and the one they tell you might be 2 absolutely different things. For instance, they may claim "I have way too many other obligations" or "I am retiring". For numerous sellers, these factors are valid. But also, for some, these may just be reasons to attempt to hide the reality of transforming demographics, increased competitors, current reduction in incomes, or an array of various other factors. This is why it is very vital that you not count completely on a seller's word, but rather, use the seller's solution along with your overall due diligence. This will paint an extra reasonable image of the business's current scenario.

Existing Debts and Future Obligations

If the current entity is in debt, which numerous businesses are, then you will certainly need to consider this when valuating/preparing your offer. Numerous companies take out loans in order to cover things like stock, payroll, accounts payable, and so on. Keep in mind that occasionally this can imply that earnings margins are too thin. Many businesses fall 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 might be an outstanding lease on tools or the building where the business resides. The business may have existing contracts with suppliers that need to be satisfied or might cause penalties if canceled early.

Understanding the Customer Base, Competition and Area Demographics

Exactly how do operating businesses in the area bring in new customers? Most times, companies have repeat customers, which develop the core of their everyday profits. Specific variables such as new competitors sprouting up around the area, roadway building and construction, and staff turnover can affect repeat consumers and also adversely impact future revenues. One crucial thing to think about is the placement of the business. Is it in an extremely trafficked shopping center, or is it hidden from the main road? Obviously, the more individuals that see the business regularly, the greater the chance to construct a returning client base. A final idea is the general location demographics. Is the business located in a largely populated city, or is it situated on the outskirts of town? Exactly how might the regional typical family income effect future earnings potential?