Listing ID: 71448
This popular bar has been around for decades and has been completely renovated. Full liquor license to be transferred. Steady neighborhood clientele with locals, local workers, college students, tourists, sports groups, etc. Permit for 54 seats, bar, booth and counter seats. Offered with the real estate which also includes a rental apartment unit.
- Asking Price: $525,000
- Cash Flow: N/A
- Gross Revenue: N/A
- EBITDA: N/A
- FF&E: $35,000
- Inventory: N/A
- Inventory Included: Yes
- Established: N/A
- Property Owned or Leased:Own
- Property Included:Yes
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:N/A
- Furniture, Fixtures and Equipment:N/A
Two story building overlooking the New Bedford harbor. Bar occupies 1,662 sq/ft on the first floor with two restrooms and a small kitchen. The second floor contains a rental unit consisting of two bedrooms, a kitchen, a bathroom, a den and storage. A third-floor unit is unfinished. There is plenty of on street parking. The real estate ($425,000) is included in the asking price.
As needed for a smooth transition
Bringing back food to the mix would be a welcome addition for the patrons. Walkway from new MTBA Station will be across the street.
Why is the Current Owner Selling The Business?
There are all types of reasons why people decide to sell companies. However, the true reason vs the one they tell you may be 2 absolutely different things. For instance, they might state "I have way too many various commitments" or "I am retiring". For numerous sellers, these factors stand. But also, for some, these may just be excuses to try to conceal the reality of changing demographics, increased competitors, current reduction in incomes, or a range of various other factors. This is why it is really essential that you not count totally on a seller's word, yet instead, utilize the vendor's solution combined with your total due diligence. This will paint a much more practical image of the business's existing circumstance.
Existing Debts and Future Obligations
If the existing entity is in debt, which many companies are, then you will certainly have reason to consider this when valuating/preparing your offer. Numerous operating businesses borrow money in order to cover things like stock, payroll, accounts payable, etc. Keep in mind that occasionally this can imply that revenue margins are too thin. Many organisations fall under a revolving door of taking loans as a way to pay back various other loans. Along with debts, there may also be future obligations to think about. There might be an outstanding lease on equipment or the structure where the business resides. The business might have existing agreements with suppliers that should be satisfied or might lead to charges if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do businesses in the location draw in brand-new customers? Most times, businesses have repeat customers, which create the core of their daily profits. Specific elements such as new competition growing up around the location, roadway building, and also employee turnover can influence repeat consumers as well as adversely affect future incomes. One vital thing to think about is the area of the business. Is it in a very trafficked shopping mall, or is it hidden from the highway? Obviously, the more individuals that see the business on a regular basis, the higher the opportunity to build a returning customer base. A final idea is the basic area demographics. Is the business situated in a largely populated city, or is it located on the edge of town? How might the regional median home earnings effect future earnings prospects?