Listing ID: 71209
When you first enter though the beautiful restaurant it has such a cool Miami vibe. This fine dining restaurant has been in the family for over 16 years. This listing is very confidential please only call the BIC to discuss. This highly rated establishment is only taking serious buyers. The owner only wants to talk with someone with years of experience. The build out alone is valued at over one half a million.
The food is not to be denied as one of the best in the Myrtle Beach area.
The restaurant has a history of 16 years this particular location 5 years.
- Asking Price: $475,000
- Cash Flow: $225,000
- Gross Revenue: $700,000
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 2014
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:4,000
- Lot Size:N/A
- Total Number of Employees:N/A
- Furniture, Fixtures and Equipment:N/A
The business was established in 2014, making the business 8 years old.
The real estate is leased by the company for $6,000 per Month
Why is the Current Owner Selling The Business?
There are all sorts of reasons why individuals choose to sell companies. Nevertheless, the true reason and the one they tell you might be 2 absolutely different things. For instance, they might say "I have a lot of other responsibilities" or "I am retiring". For many sellers, these factors are valid. But, for some, these may simply be reasons to try to hide the reality of changing demographics, increased competitors, current decrease in incomes, or a range of various other factors. This is why it is very crucial that you not count absolutely on a vendor's word, yet rather, use the seller's answer combined with your total due diligence. This will repaint a more realistic image of the business's present scenario.
Existing Debts and Future Obligations
If the existing company is in debt, which lots of businesses are, then you will need to consider this when valuating/preparing your deal. Numerous operating businesses take out loans in order to cover things like inventory, payroll, accounts payable, and so on. Remember that sometimes this can mean that revenue margins are too tight. Numerous companies fall under 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 tools or the structure where the business resides. The business may have existing agreements with suppliers that must be fulfilled or may result in penalties if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do businesses in the location draw in brand-new customers? Often times, businesses have repeat consumers, which form the core of their everyday profits. Specific elements such as brand-new competitors sprouting up around the location, roadway building, and also personnel turn over can influence repeat consumers and also adversely influence future profits. One vital point to consider is the placement of the business. Is it in a highly trafficked shopping center, or is it concealed from the main road? Undoubtedly, the more people that see the business often, the better the chance to construct a returning consumer base. A final idea is the general area demographics. Is the business located in a largely inhabited city, or is it located on the edge of town? Exactly how might the regional mean home income influence future revenue potential?