Listing ID: 70023
Tap into one of the most PRIME Downtown Locations in Charleston, SC!
This big cash flowing breakfast / Lunch Cafe may be small in size but it’s big in
Potential! Posting HUGE Sales almost $800k Breakfast and Lunch only 6 days a week!
Just steps from upscale King St Shopping, Hotels, Tourist Attractions and the College of Charleston Campus!
Keep the current concept or bring your own. Suitable for a
multitude of fast / quick concepts!
This prime location will work for almost any concept!
**$800k Sales Breakfast and Lunch Only!** Add Dinner Service and watch it Sky Rocket!
• Building & Business for $1.2MM
•Approx. 1100sq. ft.
• Great Quality of Life Ownership
• Extend hours of Operation and watch Sales and Profits SKY ROCKET!
• Add Delivery and Online Options
• Rent only $1600 a month All In for Prime Downtown Location! (Up for renewal now)
• Approved Grease Trap in place
*Full working kitchen with Hood
• Heart of Charleston Business, Shopping, Lodging & Dining Districts
• Steps to C of C, King St, Museums, Hotels, Upscale Residence & More
• Cute Build Out
• Location Second to None
• Very Few Opportunities like this in Charleston
• 2nd Generation Space that is this in great shape is very rare!!
• Avoid impact fees and permitting get this 2nd Generation Space!!
• Beautiful Area
• Turn Key and Ready for New Owner
• Fully Stocked and Equipped for Current Concept
• Pride of Ownership Runs through this Beautiful Restaurant
Building & Business for $1.2MM
Information deemed reliable but not guaranteed.
Buyer to verify all information prior to purchase.
- Asking Price: $1,200,000
- Cash Flow: N/A
- Gross Revenue: $830,000
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: N/A
Why is the Current Owner Selling The Business?
There are all types of reasons why individuals resolve to sell businesses. Nonetheless, the genuine reason and the one they tell you might be 2 entirely different things. As an example, they might state "I have too many other commitments" or "I am retiring". For lots of sellers, these reasons are valid. However, for some, these may just be excuses to attempt to hide the reality of altering demographics, increased competitors, current decrease in revenues, or an array of other reasons. This is why it is extremely vital that you not depend totally on a seller's word, but rather, make use of the vendor's answer in conjunction with your overall due diligence. This will repaint a much more practical image of the business's current situation.
Existing Debts and Future Obligations
If the existing entity is in debt, which numerous companies are, then you will have reason to consider this when valuating/preparing your offer. Numerous companies take out loans in order to cover points like stock, payroll, accounts payable, and so on. Keep in mind that sometimes this can imply that revenue margins are too small. Numerous businesses fall under a revolving door of taking on debt as a way to pay back other loans. Along with debts, there may likewise be future commitments to consider. There might be an outstanding lease on equipment or the structure where the business resides. The business may have existing agreements with suppliers that need to be met or may 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 clients? Most times, operating businesses have repeat customers, which form the core of their daily revenues. Certain variables such as new competition sprouting up around the location, road building, and also employee turnover can affect repeat consumers as well as adversely impact future profits. One vital point to take into consideration is the placement of the business. Is it in a very trafficked shopping mall, or is it hidden from the main road? Certainly, the more people that see the business on a regular basis, the higher the possibility to develop a returning consumer base. A final thought is the basic location demographics. Is the business situated in a densely populated city, or is it located on the outside border of town? Exactly how might the regional median house income influence future revenue potential?