Listing ID: 67435
This 1st Class Asian restaurant, has a loyal client base, that has been cultivated
over the last 40 years. Located in the same hyper-busy shopping center the whole time, it is the “go to” restaurant for corporate meetings, family gatherings and the area’s best Asian cuisine.
With great attention to detail, the owner has provided for he and his family, a very comfortable living for a very long time. Now ready to retire, he is interested in passing his baby on to a like minded new owner.
There are 3 years left on the lease with a 5 year option
At a Cashflow of over $200,000, the price of $350,000 is a steal. Owner Financing is available to a qualified buyer.
This won’t last.
Call Jeff Neuburg 703-623-5575
- Asking Price: $350,000
- Cash Flow: $200,000
- Gross Revenue: $1,000,000
- EBITDA: N/A
- FF&E: $50,000
- Inventory: $5,000
- Inventory Included: N/A
- Established: 1980
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:3,300
- Lot Size:N/A
- Total Number of Employees:11
- Furniture, Fixtures and Equipment:N/A
Seating for 92, perfect for larger events.
Retiring after many years.
The company was founded in 1980, making the business 42 years old.
The transaction doesn't include inventory valued at $5,000*, which ins't included in the listing price.
The business has 11 employees and resides in a building with estimated square footage of 3,300 sq ft.
The real estate is leased by the company for $12,000 per Month
Why is the Current Owner Selling The Business?
There are all sorts of reasons why people resolve to sell businesses. Nonetheless, the real factor vs the one they tell you might be 2 completely different things. As an example, they may state "I have way too many other responsibilities" or "I am retiring". For many sellers, these reasons are valid. But, for some, these might simply be reasons to try to conceal the reality of altering demographics, increased competitors, current reduction in earnings, or an array of other reasons. This is why it is extremely vital that you not count absolutely on a seller's word, but rather, utilize the seller's response in conjunction with your total due diligence. This will repaint a much more reasonable picture of the business's present situation.
Existing Debts and Future Obligations
If the existing business is in debt, which many businesses are, then you will have reason to consider this when valuating/preparing your deal. Lots of operating businesses take out loans with the purpose of covering things such as inventory, payroll, accounts payable, and so on. Keep in mind that in some cases this can imply that profit margins are too thin. Many businesses fall under a revolving door of taking on debt as a way to pay back other loans. Along with debts, there may also be future commitments to consider. There may be an outstanding lease on tools or the structure where the business resides. The business might have existing agreements with vendors that should be met or might result in penalties if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do operating businesses in the area draw in brand-new customers? Most times, companies have repeat consumers, which form the core of their daily earnings. Certain factors such as brand-new competitors growing up around the area, road construction, and employee turnover can affect repeat clients as well as negatively influence future incomes. One crucial point to take into consideration is the area of the business. Is it in a highly trafficked shopping center, or is it concealed from the highway? Clearly, the more people that see the business on a regular basis, the higher the opportunity to develop a returning client base. A last thought is the basic location demographics. Is the business located in a densely inhabited city, or is it situated on the edge of town? How might the local median home income impact future earnings prospects?