Listing ID: 70013
This I-26 Diner has 40+ years history of success. Strategically located on I-26 exit with 3-4 acres of usable real estate. Opportunities are endless from hotel to ground leasing.
*Locals and transients make this their go to place for true diner and southern comfort cuisine.
• Sales up 2021 to 2020 and 2020 to 2019……Business is BOOMING!
• $1.6mm+ Sales
• Sales growing each year for 5 consecutive years
• Approx. $400k Cash Flow
• Hotel use on property has previously been planned and approved
• Management in place for passive ownership
• Seats approx. 130
• Diner approx. 3500 sq. ft
• total turn key operation
• Kitchen equipped with 2 hoods
• Kitchen equipped with 2 walk-in Coolers
• Kitchen equipped with walk in freezer
• Great operating hours 6am-8pm
• Property zoned commercial
• Appraisal in hand for real estate
• Major hwy and thoroughfare
• Free Standing in prime location
• Extremely clean books and records
• Immediate and instant earnings
• Featuring show/open kitchen
• Rave Reviews
• Loyal Customer Base
• Owner/Operator can earn $300k+ on restaurant alone…4 acres is bonus!
Offered at only: $1,550,000
Information deemed reliable but not guaranteed. Buyer to verify all information prior to purchase.
- Asking Price: $1,550,000
- Cash Flow: $400,000
- Gross Revenue: $1,600,000
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: N/A
- Property Owned or Leased:Own
- Property Included:Yes
- Building Square Footage:3,500
- Lot Size:N/A
- Total Number of Employees:N/A
- Furniture, Fixtures and Equipment:N/A
Why is the Current Owner Selling The Business?
There are all types of reasons people choose to sell businesses. Nonetheless, the true reason vs the one they tell you might be 2 completely different things. For instance, they may state "I have way too many various responsibilities" or "I am retiring". For many sellers, these reasons stand. However, for some, these may just be justifications to try to hide the reality of changing demographics, increased competition, recent decrease in profits, or a range of other reasons. This is why it is very important that you not count totally on a seller's word, however instead, make use of the seller's response together with your general due diligence. This will paint a more reasonable image of the business's existing situation.
Existing Debts and Future Obligations
If the current business is in debt, which numerous companies are, then you will need to consider this when valuating/preparing your offer. Numerous businesses finance loans so as to cover things like stock, payroll, accounts payable, so on and so forth. Bear in mind that in some cases this can indicate that profit margins are too tight. Lots of companies fall under a revolving door of taking on debt as a way to pay back various other loans. In addition to debts, there may likewise be future obligations to think about. There might be an outstanding lease on tools or the building where the business resides. The business may have existing contracts with suppliers that need to be met or might cause charges if canceled early.
Understanding the Customer Base, Competition and Area Demographics
How do operating businesses in the area draw in new consumers? Often times, companies have repeat consumers, which create the core of their daily earnings. Particular elements such as new competitors growing up around the location, road construction, and personnel turn over can influence repeat consumers as well as adversely impact future revenues. One essential thing to consider is the placement of the business. Is it in a highly trafficked shopping center, or is it concealed from the main road? Obviously, the more individuals that see the business on a regular basis, the higher the chance to construct a returning consumer base. A last thought is the general area demographics. Is the business situated in a densely populated city, or is it situated on the outside border of town? Exactly how might the regional mean home earnings influence future revenue potential?