Listing ID: 71328
New Bedford Restaurant. Turnkey operation with excellent reputation. Great business opportunity with capacity for 85 people. Sale includes building, business, equipment and full liquor license. More information will be given to interested parties after signing a non disclosure agreement. Second floor of building consists of 2 bedroom apartment which is currently rented at $800/month., office and storage space for the restaurant.
- Asking Price: $799,000
- Cash Flow: N/A
- Gross Revenue: N/A
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: N/A
- Property Owned or Leased:Own
- Property Included:N/A
- Building Square Footage:5,460
- Lot Size:N/A
- Total Number of Employees:N/A
- Furniture, Fixtures and Equipment:N/A
Why is the Current Owner Selling The Business?
There are all types of reasons why individuals choose to sell businesses. Nonetheless, the true factor and the one they say to you might be 2 entirely different things. For instance, they might state "I have a lot of other obligations" or "I am retiring". For lots of sellers, these reasons stand. But also, for some, these might just be reasons to try to conceal the reality of altering demographics, increased competitors, current decrease in earnings, or a variety of other reasons. This is why it is very vital that you not count completely on a vendor's word, however instead, utilize the seller's answer combined with your overall due diligence. This will paint a more reasonable picture of the business's existing 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 offer. Lots of businesses take out loans so as to cover items like stock, payroll, accounts payable, and so on. Keep in mind that occasionally this can imply that profit margins are too tight. Numerous businesses fall under a revolving door of taking on debt as a way to pay back various other loans. Along with debts, there may additionally be future obligations to take into consideration. There may be an outstanding lease on tools or the building where the business resides. The business may have existing contracts with vendors that need to be fulfilled or might cause fines if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Just how do companies in the area attract new consumers? Many times, companies have repeat consumers, which develop the core of their everyday profits. Certain factors such as new competitors growing up around the location, road building, and staff turnover can influence repeat consumers and negatively influence future revenues. One essential thing to take into consideration is the location of the business. Is it in a very trafficked shopping mall, or is it concealed from the highway? Obviously, the more people that see the business often, the higher the opportunity to develop a returning customer base. A final idea is the basic area demographics. Is the business located in a largely inhabited city, or is it situated on the outside border of town? Exactly how might the neighborhood mean home earnings influence future earnings prospects?