Listing ID: 71226
Casual dining restaurant unique menu and concept. One of a kind. Established for over 10 years in the same location. Located in downtown Providence in the jewelry district. Nice area, in walking distance to downtown events, colleges, office building, and other attractions. Grossing 750k in sales for 2020. 25 year lease in place. Building in excellent condition. Turn key operation. Owner financing available to qualified buyer.
Established for over 10 years in the same location. seating for 55 inside and 15 outside.
Unique menu and concept, can be duplicated in other location.
Currently limited hours, expand hours, add new items to menu, amply opportunity for catering events. currently limited advertising being done. Add liquor license.
- Asking Price: $140,000
- Cash Flow: N/A
- Gross Revenue: $755,000
- EBITDA: N/A
- FF&E: $70,000
- Inventory: N/A
- Inventory Included: Yes
- Established: 2010
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:N/A
- Furniture, Fixtures and Equipment:N/A
The company was established in 2010, making the business 12 years old.
Why is the Current Owner Selling The Business?
There are all kinds of reasons why individuals resolve to sell operating businesses. However, the real reason and the one they tell you may be 2 completely different things. As an example, they might say "I have too many various obligations" or "I am retiring". For many sellers, these factors are valid. However, for some, these may just be reasons to try to hide the reality of altering demographics, increased competition, recent reduction in incomes, or an array of various other factors. This is why it is very important that you not rely totally on a vendor's word, yet instead, make use of the vendor's answer along with your overall due diligence. This will paint an extra realistic picture of the business's present situation.
Existing Debts and Future Obligations
If the current company is in debt, which lots of businesses are, then you will certainly need to consider this when valuating/preparing your deal. Numerous businesses take out loans with the purpose of covering items such as supplies, payroll, accounts payable, and so on. Bear in mind that in some cases this can indicate that revenue margins are too tight. Numerous businesses come under a revolving door of taking loans as a way to pay back other loans. In addition to debts, there may also be future obligations to take into consideration. There may be an outstanding lease on tools or the building where the business resides. The business might have existing agreements with suppliers that should be met or might cause charges if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do companies in the location bring in brand-new consumers? Often times, companies have repeat clients, which develop the core of their day-to-day profits. Specific aspects such as brand-new competition sprouting up around the area, roadway building and construction, and employee turnover can affect repeat consumers and also adversely influence future earnings. One important thing to consider is the placement of the business. Is it in a very trafficked shopping mall, or is it hidden from the highway? Certainly, the more individuals that see the business often, the higher the possibility to develop a returning customer base. A final thought is the general area demographics. Is the business situated in a densely populated city, or is it situated on the outside border of town? How might the neighborhood median family income impact future earnings prospects?