Business Overview

Seller Financing Available. A great opportunity to have your own restaurant in Cranston. , well established centrally located for over 20 years, Located on a busy street, 20k-30k cars pass daily. Full liquor license . Quality of food is fabulous. Location has recently been updated. Lease is below market value. Authentic Mediterranean food. Outdoor, seating 66, dining room, bar seating 60

Same ownership for over 20 years. Location has recently been renovated. Bar seating, with nice outdoor seating as well. Menu is all authentic Mediterranean food, Turkish, Greek, Mid Eastern and Italian. Excellent reputation, Turn key business, start making money the first day!!! Full liquor license. Parking for 100 cars.

Excellent growth potential, currently open 4 days weekly and limited hour for dinner. New ownership can open 7 days weekly, for breakfast, lunch, and dinner. Ample parking for growth. Menu can be redone with more diverse meals. Delivery services can be offered they currently are not. Owners is retiring and has cut back working less.

One level, parking is directly on ground level. Walk in directly from parking lot.

Financial

  • Asking Price: $130,000
  • Cash Flow: $33,000
  • Gross Revenue: $110,000
  • EBITDA: N/A
  • FF&E: $70,000
  • Inventory: $3,000
  • Inventory Included: Yes
  • Established: 2001

Detailed Information

  • Property Owned or Leased:N/A
  • Property Included:N/A
  • Building Square Footage:2,000
  • Lot Size:N/A
  • Total Number of Employees:3
  • Furniture, Fixtures and Equipment:N/A
Is Support & Training Included:

4 weeks

Purpose For Selling:

retirement

Additional Info

The venture was founded in 2001, making the business 21 years old.
The sale will include inventory valued at $3,000, which is included in the requested price.

The business has 3 employees and resides in a building with approx. square footage of 2,000 sq ft.
The building is leased by the company for $1,550 per Month

Why is the Current Owner Selling The Business?

There are all sorts of reasons why individuals decide to sell operating businesses. Nonetheless, the true reason and the one they say to you may be 2 completely different things. As an example, they may state "I have a lot of various obligations" or "I am retiring". For numerous sellers, these factors are valid. However, for some, these may simply be excuses to attempt to hide the reality of changing demographics, increased competition, current reduction in revenues, or a range of various other factors. This is why it is really crucial that you not depend completely on a vendor's word, but instead, use the seller's response along with your overall due diligence. This will paint a much more reasonable picture of the business's existing situation.

Existing Debts and Future Obligations

If the current business is in debt, which many companies are, then you will certainly have reason to consider this when valuating/preparing your deal. Many operating businesses take out loans in order to cover items like supplies, payroll, accounts payable, and so on. Remember that occasionally this can mean that revenue margins are too thin. Numerous organisations come under a revolving door of taking loans as a way to pay back various other loans. Along with debts, there may additionally be future obligations to think about. There might be an outstanding lease on tools or the building where the business resides. The business may have existing agreements with suppliers that have to be fulfilled or might result in fines if terminated early.

Understanding the Customer Base, Competition and Area Demographics

Exactly how do businesses in the location bring in new consumers? Many times, businesses have repeat clients, which develop the core of their everyday revenues. Certain factors such as brand-new competition sprouting up around the area, road building, and personnel turn over can impact repeat clients and also negatively affect future revenues. One important thing to take into consideration is the placement of the business. Is it in a very trafficked shopping center, or is it hidden from the main road? Clearly, the more individuals that see the business often, the greater the chance to develop a returning customer base. A last idea is the general location demographics. Is the business placed in a densely inhabited city, or is it situated on the outside border of town? Just how might the local typical household earnings influence future earnings potential?