Listing ID: 71214
One of the longest running restaurant operations in Summerville is selling this beloved establishment. Full infrastructure in place including hood system, walk in cooler and freezer and large in ground grease trap. Well kept, clean and in excellent condition this is a perfect opportunity for someone looking to takeover a existing establishment with immediate cash flow.
- Asking Price: $420,000
- Cash Flow: $150,000
- Gross Revenue: $1,100,000
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 1992
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:2,100
- Lot Size:N/A
- Total Number of Employees:18
- Furniture, Fixtures and Equipment:N/A
Turnkey restaurant facility
one of a kind
The company was founded in 1992, making the business 30 years old.
The business has 18 employees and resides in a building with disclosed square footage of 2,100 sq ft.
The property is leased by the business for $3,870 per Month
Why is the Current Owner Selling The Business?
There are all kinds of reasons individuals choose to sell operating businesses. Nonetheless, the genuine factor and the one they tell you may be 2 completely different things. For instance, they may claim "I have too many other responsibilities" or "I am retiring". For numerous sellers, these reasons stand. But also, for some, these might simply be justifications to attempt to conceal the reality of altering demographics, increased competition, current reduction in revenues, or a variety of various other factors. This is why it is extremely crucial that you not depend completely on a vendor's word, yet rather, utilize the vendor's answer combined with your overall due diligence. This will paint a more practical image of the business's existing situation.
Existing Debts and Future Obligations
If the current entity is in debt, which lots of companies are, then you will have reason to consider this when valuating/preparing your deal. Numerous operating businesses borrow money in order to cover items like inventory, payroll, accounts payable, so on and so forth. Remember that occasionally this can indicate that revenue margins are too tight. Lots of businesses 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 commitments to take into consideration. There may 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 result in penalties if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do operating businesses in the area draw in brand-new customers? Many times, operating businesses have repeat consumers, which develop the core of their daily earnings. Specific aspects such as brand-new competitors sprouting up around the location, road building and construction, and personnel turnover can influence repeat clients and also negatively impact future revenues. One crucial thing to consider is the area of the business. Is it in a highly trafficked shopping center, or is it concealed from the highway? Undoubtedly, the more people that see the business often, the greater the chance to build a returning consumer base. A last thought is the basic location demographics. Is the business located in a densely populated city, or is it located on the outskirts of town? Exactly how might the regional average family income influence future revenue potential?