Listing ID: 67358
This restaurant is located in one of the busiest parts of the Richmond metro area and has maintained an excellent reputation over the years.
This is your opportunity to get into a well-maintained, well-staffed, ongoing restaurant operation with high sales and high cash flow. Get into a polished concept where you can leave it the same, or add your own inspired tweaks.
Why spend the time and energy building up when you can step into a strong operation from day one and start making money right away?
- Asking Price: $450,000
- Cash Flow: $169,538
- Gross Revenue: $1,554,729
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: N/A
The front of house is impressively decorated with a classic European style without making it feel dated or imposing.
The restaurant is fully staffed and can support ongoing operations without the owner involved, and seller will provide a transition period and ongoing support as necessary to facilitate a smooth transition.
To focus on other, ongoing businesses
Why is the Current Owner Selling The Business?
There are all types of reasons individuals decide to sell companies. Nevertheless, the genuine factor and the one they say to you may be 2 completely different things. For instance, they may say "I have way too many various commitments" or "I am retiring". For lots of sellers, these factors are valid. But, for some, these may just be excuses to attempt to hide the reality of altering demographics, increased competition, current reduction in revenues, or an array of various other factors. This is why it is extremely vital that you not rely absolutely on a vendor's word, however instead, make use of the seller's solution along with your total due diligence. This will repaint an extra sensible image of the business's present scenario.
Existing Debts and Future Obligations
If the existing entity is in debt, which many businesses are, then you will certainly need to consider this when valuating/preparing your deal. Numerous operating businesses borrow money so as to cover items like inventory, payroll, accounts payable, etc. Remember that occasionally this can imply that profit margins are too small. Numerous companies come under a revolving door of taking loans as a way to pay back various other loans. Along with debts, there may likewise be future commitments to take into consideration. There might be an outstanding lease on equipment or the structure where the business resides. The business might have existing contracts with suppliers that must be met or may lead to penalties if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do companies in the location bring in brand-new consumers? Many times, companies have repeat consumers, which develop the core of their day-to-day profits. Particular aspects such as new competition growing up around the location, roadway building, and staff turnover can influence repeat customers and also negatively impact future incomes. One vital point to consider is the location of the business. Is it in a highly trafficked shopping mall, or is it concealed from the main road? Clearly, the more people that see the business on a regular basis, the better the chance to construct a returning consumer base. A final thought is the general area demographics. Is the business situated in a densely populated city, or is it located on the outside border of town? How might the local mean family income influence future revenue potential?