Business Overview

A stabilized, high profitable Korean BBQ restaurant business for sale. The business is located on Bellaire Blvd. in Chinatown area of Houston. It has been established for 8 years with great reputation and high reviews in the social media. Consistently rated 4.6 above on Google and Yelp with a very strong and loyal clientele. The Owner spent over $350,000 in building it. Everything in the dining room and kitchen is maintained in great condition. The monthly gross revenue is around $55,000, net operating income is more than $20,000 per month. The current owner never advertised. It has great potential to profit more with more advertisement. The restaurant is fully equipped, ready to be taken over by a new business owner. The owner is willing to train and provide the recipe from a 30-year experienced Chef.

Financial

  • Asking Price: $200,000
  • Cash Flow: N/A
  • Gross Revenue: $600,000
  • EBITDA: N/A
  • FF&E: $48,000
  • Inventory: $10,000
  • Inventory Included: N/A
  • Established: 2014

Detailed Information

  • Property Owned or Leased:N/A
  • Property Included:N/A
  • Building Square Footage:2,000
  • Lot Size:N/A
  • Total Number of Employees:N/A
  • Furniture, Fixtures and Equipment:N/A
About The Facility:

Home Based

Purpose For Selling:

Owner retiring

Home Based:

This Business Is Home Based

Additional Info

The venture was started in 2014, making the business 8 years old.
The deal shall not include inventory valued at $10,000*, which ins't included in the asking price.

The property is leased by the company for $3,500 per Month

Why is the Current Owner Selling The Business?

There are all kinds of reasons why people choose to sell operating businesses. Nevertheless, the genuine reason and the one they tell you might be 2 absolutely different things. For instance, they might claim "I have too many various commitments" or "I am retiring". For many sellers, these factors are valid. But also, for some, these might just be excuses to attempt to conceal the reality of transforming demographics, increased competition, current reduction in profits, or a range of other reasons. This is why it is extremely crucial that you not rely totally on a seller's word, but rather, utilize the vendor's response in conjunction with your overall due diligence. This will repaint a more reasonable image of the business's current circumstance.

Existing Debts and Future Obligations

If the current entity is in debt, which lots of businesses are, then you will certainly need to consider this when valuating/preparing your offer. Numerous businesses take out loans with the purpose of covering items such as stock, payroll, accounts payable, and so on. Remember that in some cases this can mean that earnings margins are too tight. Lots of companies fall under a revolving door of taking on debt as a way to pay back other loans. Along with debts, there may additionally be future obligations to think about. There may be an outstanding lease on tools or the structure where the business resides. The business may have existing contracts with suppliers that must be fulfilled or may cause charges if terminated early.

Understanding the Customer Base, Competition and Area Demographics

Just how do businesses in the location bring in new consumers? Many times, businesses have repeat customers, which develop the core of their day-to-day profits. Particular variables such as new competitors sprouting up around the area, road building and construction, as well as personnel turnover can influence repeat customers and adversely influence future incomes. One crucial point to take into consideration is the area of the business. Is it in a very trafficked shopping mall, or is it hidden from the highway? Clearly, the more individuals that see the business regularly, the greater the possibility to build a returning customer base. A last thought is the basic area demographics. Is the business placed in a largely populated city, or is it located on the edge of town? Just how might the local mean home income effect future income prospects?