Listing ID: 69884
Years of Established Goodwill | Attraction Location | Local Fan-Favorite
This business has a great menu of expertly prepared meals using traditional barbecue preparation methods over the years. Tourists and the locals come back year after year looking forward to their favorite dish. The restaurant atmosphere and food appeal to almost everyone that travels through this booming tourist area. Customers include a wide range of tourists, locals, motorcyclists, mountain bikers, fishermen, adventure seekers and others alike! Customers are focused on having a fun and interesting dining and travel experience are not disappointed when visiting.
For over 30 years this restaurant has satisfied customers with excellent food, service, and atmosphere. The highly visible and well-placed real estate is a local landmark and known by all that pass by.
This prominent business has a reputation for quality, good value and family friendly atmosphere that makes patrons feel welcome and at home. The current owners/founders have decided to retire, leaving an amazing opportunity for you to build on the solid foundation they have created. It is certainly uncommon to find such an enduring institution on the market.
This is the opportunity you have been looking for.
- Asking Price: $375,000
- Cash Flow: $230,943
- Gross Revenue: $723,603
- EBITDA: N/A
- FF&E: $45,000
- Inventory: $5,000
- Inventory Included: Yes
- Established: N/A
- Property Owned or Leased:Own
- Property Included:N/A
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:N/A
- Furniture, Fixtures and Equipment:N/A
Opportunity to expand menu offerings and operating hours.
The transaction does include inventory valued at $5,000, which is included in the requested price.
Why is the Current Owner Selling The Business?
There are all sorts of reasons why people choose to sell operating businesses. Nevertheless, the true reason and the one they tell you may be 2 completely different things. As an example, they might say "I have way too many various obligations" or "I am retiring". For numerous sellers, these factors are valid. However, for some, these might just be justifications to attempt to conceal the reality of altering demographics, increased competition, recent reduction in profits, or an array of other factors. This is why it is very essential that you not count totally on a vendor's word, however rather, utilize the seller's solution in conjunction with your total due diligence. This will paint a more realistic picture of the business's present situation.
Existing Debts and Future Obligations
If the current entity is in debt, which numerous companies are, then you will certainly have reason to consider this when valuating/preparing your offer. Many businesses finance loans with the purpose of covering things such as inventory, payroll, accounts payable, and so on. Remember that occasionally this can indicate that profit margins are too small. Numerous organisations fall into 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 consider. There may be an outstanding lease on equipment or the building where the business resides. The business may have existing agreements with suppliers that should be satisfied or may result in penalties if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do companies in the area draw in brand-new customers? Many times, businesses have repeat consumers, which form the core of their everyday profits. Certain variables such as new competitors sprouting up around the location, road construction, as well as personnel turnover can influence repeat consumers and also negatively impact future incomes. One important point to consider is the area of the business. Is it in an extremely trafficked shopping center, or is it concealed from the highway? Clearly, the more people that see the business on a regular basis, the higher the possibility to construct a returning customer base. A final thought is the general location demographics. Is the business located in a largely populated city, or is it located on the outskirts of town? How might the local average family earnings impact future revenue potential?