Listing ID: 67716
Prime location full service restaurant in the heart of Alexandria. Located on a heavy traffic road surrounded by residential, retail and offices. This restaurant has 3 floors which is great to host private events, lounge area as well as the sit down restaurant portion. The menu/concept can be kept the same or converted to your own. Large kitchen area with top of the line equipment. This is a must see location for any restauranteur looking to expand or take over an established turn key location. The current owner is ABSENTEE but ready to retire and we are looking for a new hands on owner/operator to bring this location to its full potential.
Term: 4 years plus option
Seats: 80 plus outdoor
- Asking Price: $195,000
- Cash Flow: N/A
- Gross Revenue: $800,000
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 2016
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:7
- Furniture, Fixtures and Equipment:N/A
The company was started in 2016, making the business 6 years old.
Why is the Current Owner Selling The Business?
There are all sorts of reasons individuals resolve to sell businesses. However, the genuine reason and the one they say to you may be 2 completely different things. For instance, they might say "I have a lot of various responsibilities" or "I am retiring". For many sellers, these reasons are valid. However, for some, these might simply be justifications to try to hide the reality of altering demographics, increased competition, current reduction in incomes, or an array of various other reasons. This is why it is extremely important that you not depend entirely on a seller's word, but rather, make use of the seller's solution along with your general due diligence. This will paint a more practical picture of the business's current situation.
Existing Debts and Future Obligations
If the existing business is in debt, which numerous businesses are, then you will have reason to consider this when valuating/preparing your deal. Many operating businesses take out loans with the purpose of covering points such as stock, payroll, accounts payable, etc. Remember that sometimes this can mean that profit margins are too thin. Many businesses come under a revolving door of taking on debt as a way to pay back various other loans. In addition to debts, there may additionally be future commitments to take into consideration. There may be an outstanding lease on tools or the structure where the business resides. The business might have existing contracts with vendors that need to be satisfied or might lead to fines if canceled early.
Understanding the Customer Base, Competition and Area Demographics
How do operating businesses in the location bring in brand-new clients? Often times, companies have repeat clients, which create the core of their everyday revenues. Specific factors such as brand-new competitors sprouting up around the area, road building and construction, and staff turnover can affect repeat consumers as well as adversely affect future earnings. One crucial point to consider is the placement of the business. Is it in a highly trafficked shopping mall, or is it hidden from the main road? Obviously, the more individuals that see the business regularly, the better the opportunity to construct a returning customer base. A final idea is the basic location demographics. Is the business situated in a largely populated city, or is it located on the edge of town? How might the regional typical house earnings effect future revenue potential?