Listing ID: 71368
A Casual pub boasting good food served in a friendly atmosphere. The mix of business is approximately 48% alcohol, 40% food. There is seating for approximately 45 people year-round, with the addition of more seating when the weather in nice. This business has remained profitable year-round, as well as throughout Covid, while also increasing food sales with a significantly growing takeout business. The establishment is currently licensed for full service until 1am daily, but the current owners are not utilizing it for the full allowance. Opening for more days/hours would be an extra opportunity for increased sales & profits. As an individual buyer, this would be a great chance to live where you vacation while running a profitable, well respected & established business. Or, if you’re already an established restaurant owner, this would make a great addition to your hospitality group portfolio
- Asking Price: $395,000
- Cash Flow: N/A
- Gross Revenue: $787,000
- EBITDA: N/A
- FF&E: N/A
- Inventory: $20,000
- Inventory Included: N/A
- Established: 2005
- Property Owned or Leased:Own
- Property Included:N/A
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:14
- Furniture, Fixtures and Equipment:N/A
Free standing building on busy road with parking and additional outside seating Tourist and year-round.
Owner will assist in a smooth transition
Open more days/ hours
The venture was founded in 2005, making the business 17 years old.
The deal shall not include inventory valued at $20,000*, which ins't included in the requested price.
The company has 14 employees and resides in a building with estimated square footage of N/A sq ft.
Why is the Current Owner Selling The Business?
There are all kinds of reasons people resolve to sell operating businesses. Nevertheless, the real reason vs the one they say to you might be 2 entirely different things. As an example, they might say "I have way too many other commitments" or "I am retiring". For numerous sellers, these factors stand. However, for some, these may simply be reasons to try to hide the reality of altering demographics, increased competitors, recent decrease in profits, or an array of various other factors. This is why it is very essential that you not rely completely on a vendor's word, but instead, use the vendor's response combined with your general due diligence. This will repaint an extra reasonable picture of the business's existing circumstance.
Existing Debts and Future Obligations
If the current business is in debt, which lots of businesses are, then you will certainly have reason to consider this when valuating/preparing your offer. Many operating businesses finance loans so as to cover points like stock, payroll, accounts payable, etc. Keep in mind that in some cases this can mean that revenue margins are too small. Many businesses come under a revolving door of taking loans as a way to pay back other loans. In addition to debts, there may additionally be future commitments to think about. There may be an outstanding lease on tools or the structure where the business resides. The business might have existing contracts with suppliers that should be satisfied or may result in penalties if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do companies in the area attract new customers? Often times, operating businesses have repeat customers, which create the core of their day-to-day earnings. Certain aspects such as new competition sprouting up around the area, road building and construction, as well as employee turn over can influence repeat customers and also adversely affect future profits. One crucial point to think about is the location of the business. Is it in a highly trafficked shopping mall, or is it hidden from the highway? Clearly, the more people that see the business on a regular basis, the greater the possibility to develop a returning consumer base. A final thought is the general location demographics. Is the business placed in a densely inhabited city, or is it situated on the edge of town? How might the neighborhood mean household income impact future earnings potential?