Listing ID: 71467
This high traffic beachside restaurant is busy all year long. They are Currently operating with a stylish breakfast/Lunch/Dessert scenario, that a number of concepts featuring eat-in & take-out could easily work in the space. The indoor dining area is small but inviting. Most patrons can enjoy views of Boston from the 75-seat patio. The kitchen equipment is in great shape, most of the F.F. & E. is no older than 2018. There are some menu restrictions based on the proximity to the landlord’s restaurant, but most conceptus would be successful. Capitalize on the remaining season with this turnkey operation and tweak to fit your concept over the winter.
• Norfolk County—–GREAT LOCATION
• Ave. Yearly Sales $435k
• Limited Hours
• 1,100 sq ft
• Seats 98 (75 outdoors looking at the BEACH)
• Rent: $3,500 NNN
• Asking: $165k
- Asking Price: $165,000
- Cash Flow: N/A
- Gross Revenue: $435,000
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: N/A
LIKE NEW! Everything updated and all new F.F. & E. since 2018. The facilites are in great condition.
After years in the indusary-it'd just time to retire
The real estate is leased by the business for $3,500 per Month
Why is the Current Owner Selling The Business?
There are all sorts of reasons people decide to sell businesses. Nevertheless, the true reason and the one they say to you may be 2 completely different things. As an example, they might claim "I have way too many various responsibilities" or "I am retiring". For lots of sellers, these factors are valid. However, for some, these might simply be justifications to attempt to hide the reality of changing demographics, increased competitors, recent decrease in incomes, or an array of various other factors. This is why it is very vital that you not depend absolutely on a vendor's word, however rather, utilize the seller's answer together with your overall due diligence. This will repaint an extra practical picture of the business's current situation.
Existing Debts and Future Obligations
If the current business is in debt, which numerous businesses are, then you will certainly have reason to consider this when valuating/preparing your offer. Lots of operating businesses finance loans so as to cover things such as stock, payroll, accounts payable, so on and so forth. Bear in mind that sometimes this can imply that revenue margins are too tight. Many businesses fall under a revolving door of taking on debt as a way to pay back various other loans. In addition to debts, there may likewise be future commitments to think about. There might be an outstanding lease on equipment or the building where the business resides. The business may have existing agreements with vendors that have to be satisfied or might cause charges if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do companies in the location draw in new clients? Most times, businesses have repeat consumers, which create the core of their daily revenues. Certain variables such as new competition growing up around the area, roadway construction, as well as employee turnover can affect repeat clients as well as adversely affect future revenues. One essential thing to take into consideration is the placement of the business. Is it in an extremely trafficked shopping center, or is it concealed from the main road? Undoubtedly, the more people that see the business often, the greater the possibility to construct a returning consumer base. A last idea is the general location demographics. Is the business located in a densely populated city, or is it located on the outskirts of town? Exactly how might the regional average house income influence future income prospects?