Business Overview

Prime location Mediterranean restaurant for sale. Established in 2011, this restaurant has built a great reputation among residents in the surrounding areas with 5 star google and yelp reviews. The current menu consists of kabob platters, authentic Mediterranean appetizers, sandwiches, salads and wood fire pizzas as well as beer & wine. Brand new HVAC, kitchen equipment and furniture. Outdoor seating. The owner of this restaurant is profiting $165,000 annually as well as paying himself $1,500 every other week as salary. Great opportunity to purchase this turn key restaurant!

Price: $379,000
Sales: $800,000
Cash Flow: $165,000
Rent: $6,800
Term: 5 years plus 10 year option
Size: 1,000sf
Payroll: $17,000/month
Utilities: $1,300/month
Seats: 34

Financial

  • Asking Price: $379,000
  • Cash Flow: $165,000
  • Gross Revenue: $800,000
  • EBITDA: N/A
  • FF&E: N/A
  • Inventory: N/A
  • Inventory Included: N/A
  • Established: 2011

Detailed Information

  • Property Owned or Leased:N/A
  • Property Included:N/A
  • Building Square Footage:N/A
  • Lot Size:N/A
  • Total Number of Employees:8
  • Furniture, Fixtures and Equipment:N/A
Purpose For Selling:

moving

Additional Info

The business was established in 2011, making the business 11 years old.

Why is the Current Owner Selling The Business?

There are all kinds of reasons people resolve to sell companies. However, the true reason and the one they say to you might be 2 completely different things. For instance, they may claim "I have a lot of other responsibilities" or "I am retiring". For many sellers, these factors stand. However, for some, these might simply be reasons to try to hide the reality of altering demographics, increased competitors, current decrease in revenues, or a variety of various other reasons. This is why it is extremely essential that you not rely completely on a seller's word, but instead, make use of the vendor's solution combined with your overall due diligence. This will repaint a much more practical picture of the business's current scenario.

Existing Debts and Future Obligations

If the current business is in debt, which many businesses are, then you will need to consider this when valuating/preparing your offer. Many operating businesses borrow money with the purpose of covering things such as stock, payroll, accounts payable, and so on. Keep in mind that in some cases this can mean that earnings margins are too small. Numerous companies come under a revolving door of taking on debt as a way to pay back other loans. Along with debts, there may likewise be future commitments to consider. There might be an outstanding lease on tools or the building where the business resides. The business may have existing agreements with vendors that must be met or might lead to penalties if terminated early.

Understanding the Customer Base, Competition and Area Demographics

Just how do companies in the area draw in new clients? Many times, operating businesses have repeat customers, which develop the core of their day-to-day earnings. Particular variables such as new competitors sprouting up around the location, road construction, and employee turn over can influence repeat clients and negatively impact future earnings. One crucial thing 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 often, the greater the chance to build a returning customer base. A last thought is the general area demographics. Is the business located in a largely inhabited city, or is it situated on the edge of town? How might the local median household income influence future revenue potential?