Listing ID: 70194
Huge Price Reduction– NO SELLER FINANCE—CA$H Buyers for Quick SALE!!!
Well known Bradenton pizza-pasta “hang-out” has just hit the maket. Manatee County is growing like crazy with over 500 New Apartments and new Retail Strip Centers being built downtown Bradenton in 2022. This restaurant is lovingly owned and operated by the same family for years.Whether you are expanding your existing retaurant portfolio or just want to become your own “Pizza Boss” for the first time, this eatery could be for you. Currently, the restaurant which is about 3309sqft has a 2COP Wine & Beer licenses and seating for 136+/- guests.The Restaurant is Open Tuesday to Saturday making the work hours family friendly. However, the business can be grown significantly if the Buyer wishes to OPEN 6-7days a week,especially on Sundays.
- Asking Price: $199,000
- Cash Flow: $132,635
- Gross Revenue: $766,186
- EBITDA: N/A
- FF&E: $150,000
- Inventory: N/A
- Inventory Included: N/A
- Established: 2007
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:3,309
- Lot Size:N/A
- Total Number of Employees:18
- Furniture, Fixtures and Equipment:N/A
Moderately upscale,well decorated and appointed.The Restaurant is located at the main entrance to a Shopping Center with high visibility and an average daily traffic count of about 47000 cars
2 weeks transitional training in the restaurant and by phone-email for an additional 3months at no charge.
Normal competition for the area
Open Sunday & Monday, expand the delivery and catering aspects of the business
The company was established in 2007, making the business 15 years old.
The business has 18 employees and is located in a building with disclosed square footage of 3,309 sq ft.
The property is leased by the business for $5,800 per Month
Why is the Current Owner Selling The Business?
There are all sorts of reasons individuals decide to sell businesses. However, the real factor vs the one they say to you might be 2 totally different things. As an example, they might claim "I have a lot of various commitments" or "I am retiring". For lots of sellers, these factors stand. However, for some, these might just be reasons to try to hide the reality of transforming demographics, increased competition, recent reduction in earnings, or a variety of other reasons. This is why it is extremely vital that you not rely entirely on a vendor's word, yet instead, make use of the vendor's response together with your overall due diligence. This will repaint a more realistic image of the business's existing scenario.
Existing Debts and Future Obligations
If the existing company is in debt, which numerous companies are, then you will have reason to consider this when valuating/preparing your deal. Lots of companies borrow money with the purpose of covering points like supplies, payroll, accounts payable, etc. Keep in mind that in some cases this can indicate that profit margins are too small. Many businesses come under a revolving door of taking loans as a way to pay back other loans. Along with debts, there may also be future commitments to think about. There might be an outstanding lease on tools or the building where the business resides. The business might have existing contracts with suppliers that must be fulfilled or may cause fines if terminated early.
Understanding the Customer Base, Competition and Area Demographics
How do companies in the area bring in brand-new consumers? Often times, operating businesses have repeat clients, which develop the core of their day-to-day earnings. Certain variables such as new competitors sprouting up around the area, roadway construction, as well as staff turn over can affect repeat clients as well as adversely affect future revenues. One vital point to take into consideration is the placement of the business. Is it in a very trafficked shopping center, or is it hidden from the main road? Obviously, the more individuals that see the business often, the higher the opportunity to build a returning consumer base. A last thought is the general area demographics. Is the business located in a largely populated city, or is it situated on the outskirts of town? How might the regional median home income effect future income prospects?