Business Overview

The turnkey operation is ready for someone who wants to put smiles on customer’s faces and continue to serve the community. This is currently an owner operated business with a dedicated team in place ensuring consistency. With over 20 years in the business and numerous awards from multiple publications, this is a “must-go” destination for Soul Food in Houston.

The FF&E includes top of the line equipment. There is a positive path for growth for this business with someone with passion. The owner is looking to retire and is committed to ensure a seamless transition to a new owner.

Real estate is for sale as well through a commercial real estate broker, property is not included in the asking price.

We are waiting on updated 2021 financials at the moment

Financial

  • Asking Price: $650,000
  • Cash Flow: $204,793
  • Gross Revenue: $1,293,242
  • EBITDA: N/A
  • FF&E: $297,000
  • Inventory: $20,000
  • Inventory Included: Yes
  • Established: 2001

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:9
  • Furniture, Fixtures and Equipment:N/A
About The Facility:

This is a location of 4,550 square feet. Seller is active in the business with 5 FT employees and 4 PT employees. Hours of operation are 11 AM to 6 PM, Monday - Sunday. $20,000 in Inventory and $297,000 in FF&E included in Asking Price. $70,000 made in Leasehold Improvements. Safe-Serve License Required.

Is Support & Training Included:

2 Weeks

Purpose For Selling:

Owner is ready to retire.

Additional Info

The company was established in 2001, making the business 21 years old.
The sale shall include inventory valued at $20,000, which is included in the asking price.

Why is the Current Owner Selling The Business?

There are all types of reasons why people decide to sell operating businesses. However, the real reason and the one they say to you might be 2 entirely different things. As an example, they may claim "I have way too many other obligations" or "I am retiring". For numerous sellers, these reasons are valid. But, for some, these may just be reasons to try to conceal the reality of changing demographics, increased competition, current reduction in earnings, or an array of various other reasons. This is why it is very important that you not count absolutely on a vendor's word, but instead, use the seller's answer along with your total due diligence. This will paint an extra sensible image of the business's current scenario.

Existing Debts and Future Obligations

If the current company is in debt, which many businesses are, then you will need to consider this when valuating/preparing your deal. Numerous operating businesses take out loans with the purpose of covering points like supplies, payroll, accounts payable, and so on. Bear in mind that occasionally this can imply that revenue margins are too thin. Lots of organisations come under a revolving door of taking on debt as a way to pay back various other loans. Along with debts, there may likewise be future commitments to consider. There may be an outstanding lease on equipment or the structure where the business resides. The business may have existing contracts with suppliers that have to be satisfied or might result in charges if canceled early.

Understanding the Customer Base, Competition and Area Demographics

Just how do operating businesses in the area draw in brand-new clients? Many times, operating businesses have repeat customers, which create the core of their day-to-day profits. Specific aspects such as brand-new competitors sprouting up around the area, road building, as well as staff turn over can affect repeat clients and adversely affect future incomes. One important point to think about is the area of the business. Is it in a very trafficked shopping center, or is it hidden from the highway? Certainly, the more people that see the business regularly, the higher the possibility to build a returning client base. A last thought is the general area demographics. Is the business placed in a largely inhabited city, or is it located on the outskirts of town? Exactly how might the neighborhood mean household income effect future revenue prospects?