Listing ID: 70114
Providing quality service and great food, this business has become well known throughout the region over the last three decades. The business is fully staffed and all equipment is place, providing a turn-key opportunity for a new owner.
- Asking Price: $1,295,000
- Cash Flow: $80,918
- Gross Revenue: $1,100,522
- EBITDA: N/A
- FF&E: $250,000
- Inventory: $15,000
- Inventory Included: Yes
- Established: 1993
- Property Owned or Leased:Own
- Property Included:Yes
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:10
- Furniture, Fixtures and Equipment:N/A
The business is located in an 8,600 square foot building located on almost nine acres. The real estate has excellent space for corporate events, meetings and private get togethers.
Will train for 2 weeks @ $0 cost. In addition to the typical state and federal licenses, a servsafe certification, food service license, and ability to acquire a liquor license will be needed.
Sellers are looking to relocate and pursue other opportunities.
In operation for thirty years, the business has built a loyal following by providing good service and great food. Various options for dining exist, but the specialty nature of this restaurant set it apart.
The business has been a staple in the region for three decades, but good opportunities exist for growth. A new owner could look to freshen up the menu, or utilize the conference and event space a bit more, maybe they could look to enhance the catering side of the business; multiple opportunities to consider.
The company was founded in 1993, making the business 29 years old.
The deal shall include inventory valued at $15,000, which is included in the asking price.
The business has 10 FT/6 PT employees and resides in a building with estimated square footage of N/A sq ft.
Why is the Current Owner Selling The Business?
There are all types of reasons why people resolve to sell companies. Nevertheless, the true reason vs the one they say to you may be 2 completely different things. For instance, they may say "I have way too many other commitments" or "I am retiring". For numerous sellers, these factors stand. But, for some, these may just be justifications to attempt to conceal the reality of changing demographics, increased competition, current decrease in revenues, or a variety of various other factors. This is why it is very essential that you not count absolutely on a vendor's word, but instead, make use of the seller's solution combined with your general due diligence. This will paint a more sensible image of the business's existing situation.
Existing Debts and Future Obligations
If the existing business is in debt, which numerous businesses are, then you will certainly have reason to consider this when valuating/preparing your deal. Many companies borrow money so as to cover items such as stock, payroll, accounts payable, etc. Bear in mind that in some cases this can imply that earnings margins are too tight. Lots of organisations fall under a revolving door of taking loans as a way to pay back various other loans. In addition to debts, there may likewise be future obligations to consider. There may 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 fulfilled or might lead to fines if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Just how do companies in the area bring in brand-new clients? Many times, operating businesses have repeat clients, which develop the core of their everyday revenues. Certain aspects such as new competition sprouting up around the location, road building and construction, and personnel turnover can influence repeat customers as well as adversely impact future incomes. One vital point to consider is the area of the business. Is it in a very trafficked shopping center, or is it hidden from the highway? Obviously, the more people that see the business regularly, the greater the opportunity to construct a returning consumer base. A final idea is the basic location demographics. Is the business situated in a largely populated city, or is it situated on the outskirts of town? How might the local mean family earnings influence future revenue prospects?