Business Overview

Very Profitable Latin Restaurant Grill in the heart of Myrtle Beach. Beautifully decorated like you’re in the Islands with delectable food in a comfortable setting. This is one of the most profitable restaurants per square foot in all of Horry Cty. Turn key easy operation makes this the perfect fit for the beginner business owner or a longtime experienced Restauranteur.
Opened in Covid 2020 to full crowds the first day due to its niche market in the area

Financial

  • Asking Price: $498,000
  • Cash Flow: $250,000
  • Gross Revenue: $520,000
  • EBITDA: N/A
  • FF&E: $80,000
  • Inventory: $3,000
  • Inventory Included: Yes
  • Established: 2020

Detailed Information

  • Property Owned or Leased:N/A
  • Property Included:N/A
  • Building Square Footage:2,150
  • Lot Size:N/A
  • Total Number of Employees:6
  • Furniture, Fixtures and Equipment:N/A
Is Support & Training Included:

2 weeks

Purpose For Selling:

other business

Additional Info

The venture was founded in 2020, making the business 2 years old.
The deal will include inventory valued at $3,000, which is included in the listing price.

The company has 6 employees and resides in a building with approx. square footage of 2,150 sq ft.
The property is leased by the company for $1,700 per Month

Why is the Current Owner Selling The Business?

There are all sorts of reasons individuals choose to sell businesses. However, the genuine factor vs the one they say to you may be 2 completely different things. For instance, they may state "I have way too many other responsibilities" or "I am retiring". For numerous sellers, these reasons are valid. But, for some, these may just be justifications to attempt to conceal the reality of changing demographics, increased competitors, recent reduction in profits, or a variety of other reasons. This is why it is really essential that you not rely completely on a seller's word, but instead, use the vendor's solution combined with your overall due diligence. This will paint a much more reasonable image of the business's existing scenario.

Existing Debts and Future Obligations

If the existing company is in debt, which many businesses are, then you will certainly have reason to consider this when valuating/preparing your deal. Many businesses take out loans in order to cover items like stock, payroll, accounts payable, etc. Keep in mind that in some cases this can suggest that revenue margins are too thin. Lots of businesses fall under a revolving door of taking loans as a way to pay back other loans. In addition to debts, there may likewise be future commitments to take into consideration. There may be an outstanding lease on equipment or the structure where the business resides. The business may have existing contracts with suppliers that must be fulfilled or may result in fines if canceled early.

Understanding the Customer Base, Competition and Area Demographics

How do businesses in the location attract brand-new clients? Often times, companies have repeat clients, which develop the core of their daily profits. Specific elements such as brand-new competitors sprouting up around the area, road building and construction, and also staff turnover can impact repeat clients as well as adversely impact future revenues. One important thing to think about is the area of the business. Is it in an extremely trafficked shopping center, or is it concealed from the highway? Certainly, the more people that see the business regularly, the higher the opportunity to develop a returning client base. A last thought is the general area demographics. Is the business located in a densely inhabited city, or is it located on the edge of town? Exactly how might the regional mean household income effect future income prospects?