Business Overview

Restaurant opportunity located on busy street in a growing neighborhood. Attractive space with recent leasehold improvements and upgrades. Space is conducive to a variety of concepts either formal or fast casual. Outdoor seating with room to expand and an extra room that can flex as a private dining room or used to expand dining space. This restaurant has built a reputation for classic comfort foods and is a top destination for this neighborhood. Spacious kitchen with larger walk-in, new hood and all the restaurant equipment needed to operate a face paced popular restaurant.
Open just prior to the pandemic this was a popular destination that was gaining a lot of momentum. Offering top notch libations and delicious food in a comfortable, classy environment appealing to Portland foodies and a solid neighborhood customer base. The restaurant has adapted to expand pick up orders to accommodate customers during the pandemic.
This restaurant sets itself apart with their soulful, comfort food and a friendly vibe in a friendly tasteful environment that is well situated in a high traffic area and executed a thoughtful marketing plan. The space is ideal to continue this concept while lending itself to be easily adapted to fit a variety of menu and service options.
There are opportunities for growth by expanding hours for breakfast/brunch and dinner services seven days a week. The prep and kitchen space and layout make this an ideal restaurant for growing the catering, curbside and carry out services. Additionally, actively targeting customers from outside the neighborhood and adding delivery services could contribute to additional growth.
Turn-key restaurant.

Financial

  • Asking Price: $175,000
  • Cash Flow: $60,759
  • Gross Revenue: $668,776
  • EBITDA: N/A
  • FF&E: $203,299
  • Inventory: $9,928
  • Inventory Included: Yes
  • Established: 2019

Detailed Information

  • Property Owned or Leased:N/A
  • Property Included:N/A
  • Building Square Footage:2,200
  • Lot Size:N/A
  • Total Number of Employees:9
  • Furniture, Fixtures and Equipment:N/A
Purpose For Selling:

moving on

Additional Info

The company was established in 2019, making the business 3 years old.
The deal shall include inventory valued at $9,928, which is included in the asking price.

The business has 9 employees and resides in a building with estimated square footage of 2,200 sq ft.
The building is leased by the business for $4,649 per Month

Why is the Current Owner Selling The Business?

There are all types of reasons why people decide to sell operating businesses. However, the genuine reason and the one they say to you may be 2 completely different things. As an example, they might say "I have a lot of various responsibilities" or "I am retiring". For many sellers, these factors stand. But, for some, these might simply be reasons to try to conceal the reality of changing demographics, increased competition, recent reduction in profits, or a range of other factors. This is why it is extremely important that you not rely totally on a seller's word, but instead, utilize the seller's solution in conjunction with your total due diligence. This will repaint a more practical image of the business's existing scenario.

Existing Debts and Future Obligations

If the existing business is in debt, which lots of businesses are, then you will certainly have reason to consider this when valuating/preparing your deal. Lots of businesses borrow money with the purpose of covering points like inventory, payroll, accounts payable, and so on. Keep in mind that sometimes this can indicate that earnings margins are too small. Many businesses fall under a revolving door of taking loans as a way to pay back various other loans. In addition to debts, there may likewise be future obligations to take into consideration. There may 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 result in penalties if terminated early.

Understanding the Customer Base, Competition and Area Demographics

Just how do companies in the location attract brand-new consumers? Many times, companies have repeat customers, which form the core of their day-to-day profits. Certain factors such as new competitors sprouting up around the area, road construction, and personnel turnover can affect repeat customers and adversely affect future revenues. One crucial point to consider is the location of the business. Is it in an extremely trafficked shopping center, or is it hidden from the highway? Clearly, the more individuals that see the business often, the better the opportunity to develop a returning customer base. A last thought is the basic location demographics. Is the business placed in a densely populated city, or is it situated on the edge of town? Exactly how might the neighborhood average home income impact future revenue prospects?