Listing ID: 70032
Operating bar, package liquor with drive up and video gaming operation for sale with real estate in Sangamon County. Has a 3am liquor license so you can sell package, drinks and allow people to game here from 10am – 3am. Thats 17 hours of profits. One of a few 3am licenses and fills that late night niche that is extremely profitable. Avg of $13k in net gaming to the business per month in 2020. $34k per month in bar and package sales. 2,500 sq ft building on 1/3 acres of real estate is included. Absentee operated. Avg profits of $125k over the last 3 years.
- Asking Price: $399,000
- Cash Flow: N/A
- Gross Revenue: N/A
- EBITDA: $125,000
- 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:2,500
- 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 why people choose to sell businesses. Nonetheless, the real reason and the one they say to you may be 2 totally different things. For instance, they may say "I have too many other obligations" or "I am retiring". For lots of sellers, these factors are valid. But, for some, these might simply be excuses to try to conceal the reality of changing demographics, increased competitors, current decrease in incomes, or a variety of various other reasons. This is why it is very crucial that you not count totally on a vendor's word, but rather, utilize the vendor's solution in conjunction with your general due diligence. This will repaint an extra reasonable picture of the business's current scenario.
Existing Debts and Future Obligations
If the current company is in debt, which numerous businesses are, then you will certainly need to consider this when valuating/preparing your offer. Numerous businesses finance loans so as to cover items such as stock, payroll, accounts payable, etc. Keep in mind that occasionally this can imply that revenue margins are too thin. Lots of organisations fall under a revolving door of taking loans as a way to pay back other loans. In addition to debts, there may also 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 contracts with vendors that must be satisfied or may result in fines if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do operating businesses in the area bring in new customers? Most times, businesses have repeat consumers, which form the core of their daily revenues. Particular factors such as new competition sprouting up around the area, roadway building and construction, and also staff turnover can influence repeat customers and also adversely affect future incomes. One crucial thing to consider is the location of the business. Is it in a highly trafficked shopping mall, or is it hidden from the main road? Undoubtedly, the more people that see the business on a regular basis, the better the opportunity to build a returning client base. A last idea is the basic location demographics. Is the business located in a largely populated city, or is it situated on the edge of town? How might the neighborhood average home income influence future earnings potential?