Listing ID: 67606
Fantastic opportunity to own a well-known restaurant and market located in Rappahannock County, Virginia that is in close proximity to Shenandoah National Park. The business opened in 2017 and consists of a full-service restaurant offering breakfast and lunch co-located with a general store/market. The restaurant offers made-to-order, dine-in and take-out fresh food made from fresh and high-quality ingredients. The market/general store was added in the summer of 2021 to offer customers last minute grab and go items, including beer/wine, as well as items for hiking, camping, and traveling.
Over the past four years, the business has become a popular spot in the community with regulars and visitors alike. The business revenue has remained steady since it first opened, and the business performed well in 2020 despite the impact of the pandemic. Cash flow has been growing and reliable over the past several years as well. The addition of a general store represents a new opportunity for the future owner to build on and continue to grow the operation. The area around the business is situated in a growing part of the state. The Real Estate comprises 3.3 acres with the 5,000 square foot building located on a prominent thoroughfare with good visibility along a main thoroughfare. The property is zoned for both commercial and residential use.
***Please DO NOT visit the business and speak with any of the employees about the sale of the business as they may be unaware of the sale and if they find out it could be detrimental to the business owner and prospective buyer. Broker and Seller are happy to schedule an in person meeting together outside of business hours to provide a full tour and answer any questions.***
- Asking Price: $100,000
- Cash Flow: N/A
- Gross Revenue: $446,000
- EBITDA: N/A
- FF&E: $100,000
- Inventory: $25,000
- Inventory Included: N/A
- Established: 2017
- Property Owned or Leased:Own
- Property Included:N/A
- Building Square Footage:5,000
- Lot Size:N/A
- Total Number of Employees:7
- Furniture, Fixtures and Equipment:N/A
A 5,000 square foot restaurant and market located very close to Shenandoah National Park in Virginia. The building was completely renovated in 2016 with new commercial electrical, commercial plumbing, commercial HVAC system, and new furniture and commercial kitchen equipment.
Seller will provide necessary training and support.
Owner is retiring.
There is no direct competition for this type of concept within 20-30 miles.
The business was expanded to include a new convenience store in the summer of 2021. The restaurant currently serves breakfast and lunch 5 days a week from 8am to 3pm. The next owners could expand restaurant to offer dinner service or expanded hours which could significantly increase revenues. As the general store side of the business is still relatively new, there is ample room for growth and expansion in that area.
The company was established in 2017, making the business 5 years old.
The deal doesn't include inventory valued at $25,000*, which ins't included in the asking price.
The business has 7 employees and resides in a building with approx. square footage of 5,000 sq ft.
Why is the Current Owner Selling The Business?
There are all sorts of reasons people decide to sell companies. Nonetheless, the true factor and the one they say to you might be 2 totally different things. As an example, they might say "I have a lot of various responsibilities" 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 changing demographics, increased competition, current decrease in earnings, or a variety of other factors. This is why it is extremely essential that you not count absolutely on a vendor's word, however rather, use the seller's answer together with your general due diligence. This will repaint an extra realistic image of the business's existing circumstance.
Existing Debts and Future Obligations
If the current company is in debt, which many businesses are, then you will have reason to consider this when valuating/preparing your deal. Numerous businesses take out loans with the purpose of covering things such as stock, payroll, accounts payable, and so on. Keep in mind that occasionally this can mean that profit margins are too thin. Many companies fall under a revolving door of taking loans as a way to pay back other loans. In addition to debts, there may additionally be future obligations to consider. There may be an outstanding lease on equipment or the building where the business resides. The business may have existing contracts with suppliers that have to be satisfied or may cause charges if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Just how do companies in the location draw in new customers? Often times, companies have repeat customers, which form the core of their daily revenues. Particular elements such as new competition growing up around the location, road building, as well as personnel turnover can affect repeat clients and adversely affect future earnings. One essential thing to take into consideration is the location of the business. Is it in a highly trafficked shopping center, or is it hidden from the main road? Certainly, the more individuals that see the business often, the better the chance to build a returning customer base. A final thought is the basic area demographics. Is the business placed in a largely inhabited city, or is it situated on the edge of town? Just how might the local typical home income influence future earnings potential?