Listing ID: 67604
Super popular restaurant and bar located in beautiful Kinsale, VA. The sale includes the business, all business furniture, fixtures, equipment and real estate. Being located on the historical Northern Neck summer turns this busy place into a super busy one. The kitchen serves a full menu and their is a huge bar area with space for live entertainment. For more information call Northern Virginia’s Number One Business Seller – Doug Jackson at (703) 898-0888.
- Asking Price: $495,000
- Cash Flow: $150,000
- Gross Revenue: $800,000
- EBITDA: N/A
- FF&E: $175,000
- Inventory: $15,000
- Inventory Included: N/A
- Established: 2003
- Property Owned or Leased:Own
- Property Included:Yes
- Building Square Footage:4,300
- Lot Size:N/A
- Total Number of Employees:15
- Furniture, Fixtures and Equipment:N/A
Corner lot on two main roads. Building is 4,300sqft sitting on 2.21 acres. New electrical panel, security cameras and well pump. Has a large back up generator to ensure against power loss.
Seller's will invest the time needed to assist buyer with a smooth transition.
No immediate competition. This truly is the only game in town.
The company was established in 2003, making the business 19 years old.
The transaction doesn't include inventory valued at $15,000*, which ins't included in the requested price.
The company has 15 employees and is located in a building with approx. square footage of 4,300 sq ft.
Why is the Current Owner Selling The Business?
There are all kinds of reasons why individuals resolve to sell businesses. However, the real factor and the one they say to you may be 2 totally different things. As an example, they might say "I have way too many other commitments" or "I am retiring". For numerous sellers, these factors are valid. But, for some, these might just be justifications to attempt to hide the reality of transforming demographics, increased competition, current decrease in earnings, or a range of various other reasons. This is why it is extremely important that you not rely entirely on a seller's word, yet rather, make use of the seller's answer together with your overall due diligence. This will paint a much more realistic picture of the business's present circumstance.
Existing Debts and Future Obligations
If the current business is in debt, which numerous businesses are, then you will certainly need to consider this when valuating/preparing your deal. Lots of operating businesses borrow money in order to cover points such as stock, payroll, accounts payable, and so on. Keep in mind that sometimes this can suggest that earnings margins are too tight. Lots of businesses fall into a revolving door of taking loans as a way to pay back other loans. Along with debts, there may additionally 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 agreements with suppliers that must be met or may lead to charges if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Just how do companies in the location draw in brand-new consumers? Often times, companies have repeat clients, which develop the core of their day-to-day earnings. Certain elements such as new competition sprouting up around the area, road building, as well as personnel turnover can influence repeat consumers and negatively impact future revenues. One essential point to think about is the location of the business. Is it in a very trafficked shopping center, or is it hidden from the main road? Clearly, the more people that see the business regularly, the greater the opportunity to construct a returning client base. A last thought is the basic area demographics. Is the business situated in a largely inhabited city, or is it situated on the outside border of town? Just how might the local mean household income influence future earnings prospects?