Listing ID: 67718
Own this Beautifully Built Out Asian Restaurant for Sale for Under $100,000. The Restaurant has been open and operating for 15 years. Pre-Covid Revenue averaged around $500,000 Annually. Owner is Relocating.
Opened in 2006, this Asian Restaurant for Sale in Savannah GA was an instant success. The location generated around $500,000 in annual sales and received terrific reviews and feedback. In 2016 the Owners sold the restaurant for much more than they are asking today. After several years, the Owners took back the restaurant. They now want to relocate and have priced this well known long standing restaurant and an unbelievable low price of under $80,000.
The Asian Restaurant for Sale by We Sell Restaurants is 1800 square feet with a very reasonable gross rent of $4000 all in. The lease is assignable and has over four years remaining. It can seat up to 70 guests inside and out. In addition to a grease trap and hood, the restaurant is fully equipped and furnished with a custom fish tank, 3-hole wok, flat grill, 6 burner broiler, fryer, walk in cooler, metro shelving, single door refrigerator, sandwich unit, under counter refrigeration, ice machine, rice cooker, Sushi counter cooler, tables, chairs, booths and more.
Owning this Restaurant For Sale and living in Savannah Georgia is more than a business decision, it’s a great lifestyle choice. Savannah, is a wonderful coastal Georgia city, separated from South Carolina by the Savannah River. It’s known for manicured parks, horse-drawn carriages and antebellum architecture. Its historic district is filled with cobblestone squares and parks. It is close by to so many other beautiful areas like Hilton Head and Tybee Island drawing patrons from outside the metro Savannah area. Curb side and Catering business has grown adding additional profitable revenue streams. Savannah’s tourism numbers continued to grow to record levels. The estimated total number of visitors for the year was 14.8 million, generating $3.1 billion in visitor spending.
A restaurant like this would typically sell for double the asking price but the owners are motivated to sell fast and have priced accordingly. Contact your restaurant brokers at We Sell Restaurants today.
- Asking Price: $99,900
- Cash Flow: $80,000
- Gross Revenue: $475,000
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 2006
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:1,800
- Lot Size:N/A
- Total Number of Employees:5
- Furniture, Fixtures and Equipment:N/A
20 Tables 40 chairs 7 booths with seats custom fish tank 3 hole wok flat grill 6 burner broiler fryer walk in cooler metro shelving single door refrigerator sandwich unit 2 sliding door reach in undercounted refrigeration double door freezer deep worktop freezer under counter refrigeration pureforce dish machine dirty dish table clean dish table spray nozzle hand wash sinks 3 compartment sink built in prep sink table 3 compartment bar sink ice machine rice cooker sushi counter cooler water heater prep table hood
Open and Operating 15 years Savannah GA has millions of visitors
The venture was started in 2006, making the business 16 years old.
The business has 5 employees and is located in a building with approx. square footage of 1,800 sq ft.
The property is leased by the company for $3,915
Why is the Current Owner Selling The Business?
There are all types of reasons people resolve to sell businesses. Nonetheless, the true reason and the one they tell you might be 2 absolutely different things. For instance, they may say "I have too many other obligations" or "I am retiring". For numerous sellers, these reasons stand. However, for some, these may simply be justifications to try to conceal the reality of changing demographics, increased competition, recent decrease in earnings, or an array of various other factors. This is why it is really crucial that you not rely absolutely on a seller's word, yet instead, use the vendor's answer along with your overall due diligence. This will paint an extra sensible picture of the business's current scenario.
Existing Debts and Future Obligations
If the existing business is in debt, which numerous companies are, then you will have reason to consider this when valuating/preparing your offer. Lots of businesses take out loans with the purpose of covering items like supplies, payroll, accounts payable, so on and so forth. Keep in mind that in some cases this can mean that earnings margins are too small. Lots of companies come under a revolving door of taking loans as a way to pay back various other loans. Along with 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 might have existing agreements with suppliers that need to be fulfilled or might result in charges if terminated early.
Understanding the Customer Base, Competition and Area Demographics
How do businesses in the location bring in new consumers? Most times, operating businesses have repeat consumers, which develop the core of their daily revenues. Specific aspects such as brand-new competitors growing up around the area, road building and construction, and personnel turn over can impact repeat consumers and also negatively impact future earnings. One essential point to consider is the location of the business. Is it in a very trafficked shopping mall, or is it hidden from the main road? Certainly, the more people that see the business on a regular basis, the greater the chance to build a returning client base. A final thought is the basic location demographics. Is the business located in a largely populated city, or is it located on the edge of town? Exactly how might the regional average household earnings effect future earnings potential?