Listing ID: 70016
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 kinds of reasons why people choose to sell operating businesses. Nevertheless, the genuine factor and the one they tell you may be 2 totally different things. For instance, they might claim "I have a lot of various responsibilities" or "I am retiring". For many sellers, these factors are valid. But also, for some, these might just be justifications to try to hide the reality of altering demographics, increased competitors, current reduction in revenues, or an array of other reasons. This is why it is very vital that you not rely totally on a vendor's word, however rather, use the vendor's response combined with your general due diligence. This will repaint an extra reasonable image of the business's existing circumstance.
Existing Debts and Future Obligations
If the existing entity is in debt, which lots of companies are, then you will certainly need to consider this when valuating/preparing your deal. Lots of operating businesses take out loans with the purpose of covering points such as inventory, payroll, accounts payable, and so on. Keep in mind that sometimes this can imply that profit margins are too small. Numerous companies come under a revolving door of taking on debt as a way to pay back various other loans. Along with debts, there may also be future obligations to consider. There may be an outstanding lease on equipment or the structure where the business resides. The business might have existing contracts with suppliers that have to be met or might result in fines if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do companies in the area draw in brand-new consumers? Many times, businesses have repeat customers, which form the core of their day-to-day earnings. Specific elements such as brand-new competition sprouting up around the location, road building and construction, and employee turn over can affect repeat clients and also adversely impact future revenues. One crucial point to take into consideration is the area of the business. Is it in a highly trafficked shopping center, or is it concealed from the highway? Clearly, the more people that see the business regularly, the higher the possibility to develop a returning client base. A final idea is the general location demographics. Is the business placed in a densely populated city, or is it located on the outskirts of town? How might the local median house income influence future income potential?