Listing ID: 67399
Business was established in 2000 as a home business and branched to new location in Central Virginia. This popular Barbecue restaurant features traditional style, smoked, hand-pulled pork, beef, and chicken. They are known in the area for their homemade sides, catering, and old-fashioned Southern Hospitality services. Great product, loyal following for dine-in, take out, delivery and catering. Great starter Restaurant for entrepreneur or seasoned restaurant owner. All equipment & fixtures in place, just turn the key and start making money.
Increase advertisement and online presence, increase catering services.
- Asking Price: $149,000
- Cash Flow: $49,000
- Gross Revenue: $400,000
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 1998
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:3
- Furniture, Fixtures and Equipment:N/A
other business interests
The company was started in 1998, making the business 24 years old.
Why is the Current Owner Selling The Business?
There are all kinds of reasons why people decide to sell businesses. However, the true factor and the one they say to you may be 2 totally different things. As an example, they may say "I have a lot of various obligations" or "I am retiring". For numerous sellers, these factors are valid. But, for some, these may just be reasons to attempt to conceal the reality of altering demographics, increased competition, current decrease in revenues, or a variety of various other factors. This is why it is really crucial that you not rely totally on a seller's word, however rather, utilize the seller's solution in conjunction with your general due diligence. This will repaint an extra practical picture of the business's current circumstance.
Existing Debts and Future Obligations
If the current company is in debt, which many companies are, then you will certainly need to consider this when valuating/preparing your deal. Many businesses finance loans so as to cover points like inventory, payroll, accounts payable, and so on. Keep in mind that in some cases this can imply that earnings margins are too small. Numerous organisations fall 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 may be an outstanding lease on equipment or the structure where the business resides. The business may have existing agreements with vendors that must be met or may cause charges if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do businesses in the area draw in new customers? Often times, operating businesses have repeat consumers, which develop the core of their day-to-day earnings. Particular aspects such as new competitors sprouting up around the area, roadway building and construction, and personnel turnover can affect repeat clients and also adversely affect future incomes. One crucial point to take into consideration is the location of the business. Is it in a highly trafficked shopping mall, or is it concealed from the main road? Certainly, the more individuals that see the business on a regular basis, the better the possibility to develop a returning customer base. A final idea is the general area demographics. Is the business placed in a largely inhabited city, or is it situated on the edge of town? Just how might the neighborhood typical house income influence future earnings potential?