Listing ID: 71182
Established in 2004, Greek Table has been a Bluffton classic for over 18 years. Loyal, local following, take advantage of the built in clientele!
- Asking Price: $89,000
- Cash Flow: N/A
- Gross Revenue: N/A
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 2004
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:1,600
- Lot Size:N/A
- Total Number of Employees:2
- Furniture, Fixtures and Equipment:N/A
Inline Publix anchored shopping center with outside seating. 8ft hood system in place
The company was founded in 2004, making the business 18 years old.
The business has 2 employees and resides in a building with disclosed square footage of 1,600 sq ft.
The building is leased by the company for $4,255 per Month
Why is the Current Owner Selling The Business?
There are all types of reasons why people decide to sell businesses. Nevertheless, the true reason and the one they say to you might be 2 entirely different things. For instance, they might state "I have way too many other commitments" or "I am retiring". For many sellers, these reasons are valid. But also, for some, these might simply be excuses to attempt to conceal the reality of changing demographics, increased competitors, recent reduction in incomes, or an array of various other reasons. This is why it is very essential that you not depend entirely on a vendor's word, however rather, use the vendor's response together with your overall due diligence. This will paint a more sensible image of the business's current situation.
Existing Debts and Future Obligations
If the existing company is in debt, which many companies are, then you will have reason to consider this when valuating/preparing your deal. Numerous companies take out loans with the purpose of covering points like inventory, payroll, accounts payable, and so on. Keep in mind that sometimes this can imply that earnings margins are too tight. 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 commitments 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 must be met or may result in charges if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do operating businesses in the location draw in new clients? Many times, operating businesses have repeat consumers, which develop the core of their day-to-day revenues. Certain aspects such as new competitors sprouting up around the location, roadway building and construction, as well as staff turn over can influence repeat customers and also adversely impact future revenues. One important point to consider is the location of the business. Is it in an extremely trafficked shopping center, or is it hidden from the highway? Certainly, the more people that see the business on a regular basis, the higher the opportunity to construct a returning client base. A final idea is the general area demographics. Is the business located in a densely populated city, or is it located on the outskirts of town? How might the regional median home earnings effect future revenue potential?