Listing ID: 71177
Rare opportunity to take over a successful seasonal business in Charleston, SC at one of the Top Farmer’s Market’s in the country. This business is open only on Saturdays 8-1, April – December. This business is a side project for the owner who had 2 other businesses. If you are looking to make this a full time career, opportunities for other markets and catering are easily achievable. Hand-painted catering minibus included in sale.
- Asking Price: $56,000
- Cash Flow: N/A
- Gross Revenue: $75,000
- EBITDA: $40,000
- FF&E: N/A
- Inventory: $20,000
- Inventory Included: Yes
- Established: 2007
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:1
- Furniture, Fixtures and Equipment:N/A
The company was established in 2007, making the business 15 years old.
The deal will include inventory valued at $20,000, which is included in the suggested price.
Why is the Current Owner Selling The Business?
There are all sorts of reasons why people choose to sell operating businesses. However, the real reason and the one they tell you might be 2 absolutely different things. For instance, they might state "I have way too many other responsibilities" or "I am retiring". For numerous sellers, these factors are valid. However, for some, these might just be reasons to attempt to hide the reality of altering demographics, increased competition, recent decrease in profits, or a variety of other reasons. This is why it is really crucial that you not count completely on a seller's word, however rather, utilize the seller's solution together with your overall due diligence. This will repaint an extra practical image of the business's present circumstance.
Existing Debts and Future Obligations
If the current business is in debt, which many businesses are, then you will certainly need to consider this when valuating/preparing your offer. Numerous businesses finance loans with the purpose of covering points like inventory, payroll, accounts payable, so on and so forth. Remember that in some cases this can mean that earnings margins are too small. Many organisations fall into a revolving door of taking loans as a way to pay back other loans. Along with debts, there may likewise be future obligations to take into consideration. There may be an outstanding lease on equipment or the structure where the business resides. The business might have existing agreements with suppliers that need to be satisfied or may result in penalties if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Just how do businesses in the area attract brand-new consumers? Most times, operating businesses have repeat customers, which create the core of their day-to-day earnings. Particular factors such as new competitors sprouting up around the location, roadway construction, and staff turn over can influence repeat clients as well as negatively influence future incomes. One important point to think about is the placement of the business. Is it in an extremely trafficked shopping center, or is it concealed from the highway? Certainly, the more individuals that see the business regularly, the greater the possibility to build a returning consumer base. A last idea is the general location demographics. Is the business placed in a largely inhabited city, or is it situated on the edge of town? How might the neighborhood typical household earnings influence future earnings prospects?