Business Overview

A popular Vietnamese/Asian cuisine restaurant with a delicious American-Asian twist. Opened 4 years ago in 2017, the sellers started this business because they always wanted their own fine-dining restaurant and have a passion for this type of cuisine. They use proprietary recipes to make their flavorful dishes, that keep customers coming back for more. Even during the closures forced by pandemic, their popularity through online ordering apps sustained the business and kept it healthy, allowing them to retain almost all their staff. This beautiful custom built restaurant seats 80 customers, with an outdoor patio, sales are back to pre-pandemic levels. It is in a prime location in a popular SW Metro suburb. And is surrounded by neighborhoods, high end condos, and shopping centers. This business is a very lucrative opportunity for anyone looking to own a restaurant.
The business was opened in June 2017. A husband and wife share ownership. The sellers opened it because they always wanted to own a restaurant and planned to have their daughter run it once she finished college. Their daughter has had a change of heart and wishes to pursue other dreams. Which is the reason for selling the business.
This restaurant is in a popular commercial area, with lots of retail and multiple restaurants near by. However, their closest true competitor is over a mile away in a different town.

The business is performing at pre-pandemic monthly sales and not yet able to have full capacity. Once full capacity dining is able to occur, sales are expected to increase organically. An increase in their online and social media marketing could help push their brand presence deeper into the Portland market, opening the door to a future 2nd location.
Located in a commercial plaza, which is part of a High end condominium and apartment development.

Financial

  • Asking Price: $369,999
  • Cash Flow: $193,537
  • Gross Revenue: $724,039
  • EBITDA: N/A
  • FF&E: $300,000
  • Inventory: $4,000
  • Inventory Included: Yes
  • Established: 2017

Detailed Information

  • Property Owned or Leased:N/A
  • Property Included:N/A
  • Building Square Footage:2,699
  • Lot Size:N/A
  • Total Number of Employees:9
  • Furniture, Fixtures and Equipment:N/A
Purpose For Selling:

lifestyle change

Additional Info

The company was established in 2017, making the business 5 years old.
The deal will include inventory valued at $4,000, which is included in the suggested price.

The business has 9 employees and is situated in a building with disclosed square footage of 2,699 sq ft.
The property is leased by the company for $7,341 per Month

Why is the Current Owner Selling The Business?

There are all kinds of reasons people decide to sell businesses. Nevertheless, the real reason and the one they tell you may be 2 completely different things. As an example, they might state "I have a lot of other responsibilities" or "I am retiring". For numerous sellers, these factors stand. But, for some, these may just be excuses to attempt to conceal the reality of transforming demographics, increased competitors, recent decrease in incomes, or a range of various other reasons. This is why it is really crucial that you not count completely on a seller's word, but rather, use the vendor's solution along with your overall due diligence. This will paint a more reasonable picture of the business's present situation.

Existing Debts and Future Obligations

If the existing company is in debt, which numerous businesses are, then you will certainly have reason to consider this when valuating/preparing your deal. Many operating businesses borrow money with the purpose of covering things like stock, payroll, accounts payable, and so on. Remember that in some cases this can indicate that revenue margins are too small. Many organisations come under a revolving door of taking on debt as a way to pay back other loans. In addition to debts, there may additionally be future commitments to think about. There may be an outstanding lease on equipment or the structure where the business resides. The business may have existing agreements with suppliers 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 location attract new customers? Most times, companies have repeat clients, which create the core of their everyday profits. Particular aspects such as brand-new competitors growing up around the location, roadway building and construction, and also staff turnover can impact repeat clients and negatively influence future profits. One vital thing to take into consideration is the area of the business. Is it in a highly trafficked shopping center, or is it concealed from the main road? Obviously, the more individuals that see the business often, the greater the chance to build a returning customer base. A last idea is the basic area demographics. Is the business placed in a densely populated city, or is it located on the outside border of town? Exactly how might the regional typical household earnings impact future earnings prospects?