Business Overview

Drive down this street and you’ll see a restaurant in a setting that brings to mind Cape Cod or the coast of Maine. Established over 50 years ago, the rustic feel of the dining room is updated, clean, and inviting. At 2,800 sq. ft., the pub exudes an intimate and fun atmosphere for the family, friends or special occasion. It has a good-sized parking lot, and the adjacent 2-family house with long-term tenants gives you an additional revenue stream from the get-go. This is a must see, especially for an owner who thrives on visibility to a loyal following. Great Growth Potential. Currently only open 30 hours a week
• Norfolk County
• Pub: Yearly Average Sales-$735k+/-
• Seats: 106
• Sq. Ft. 2,850
• Lot Size: Pub & Home .29
• After 17 years it’s time to retire. The Pub is set up for long term success.
Two Family House
• 2 one-bedroom apartments
• Both 700 sq ft +/-
• Eat-in kitchen
• Updated Appliances
• Heat: Forced Hot Air
• Rent Roll: 1st floor $825 2nd floor $875 Pub: $1,500 (able room for increases)
NOTE: The average 1 bedroom apartment is $1,200-$1,500 -increase rental income!
• DEAL OF A LIFE TIME
Offered at $1.5 Million-proof of funds/preapproval needed

Financial

  • Asking Price: $1,500,000
  • Cash Flow: N/A
  • Gross Revenue: $735,000
  • EBITDA: N/A
  • FF&E: N/A
  • Inventory: N/A
  • Inventory Included: N/A
  • Established: 2002

Detailed Information

  • Property Owned or Leased:Own
  • Property Included:Yes
  • Building Square Footage:2,800
  • Lot Size:N/A
  • Total Number of Employees:17
  • Furniture, Fixtures and Equipment:N/A
About The Facility:

Seems to be in great condition

Is Support & Training Included:

YES! for 2 weeks!!!

Purpose For Selling:

retiring

Pros and Cons:

only open 30 hours??? Rent roll is low!!! INCREASE rent to market rate

Additional Info

The company was established in 2002, making the business 20 years old.

The business has 17 employees and is located in a building with estimated square footage of 2,800 sq ft.

Why is the Current Owner Selling The Business?

There are all types of reasons why individuals resolve to sell companies. Nonetheless, the genuine reason and the one they say to you might be 2 completely different things. As an example, they might claim "I have a lot of other commitments" or "I am retiring". For many sellers, these factors stand. However, for some, these may simply be justifications to try to conceal the reality of altering demographics, increased competitors, current decrease in profits, or a range of other reasons. This is why it is extremely essential that you not count absolutely on a vendor's word, yet rather, make use of the vendor's answer in conjunction with your overall due diligence. This will paint a much more realistic picture of the business's current situation.

Existing Debts and Future Obligations

If the existing business is in debt, which numerous companies are, then you will certainly have reason to consider this when valuating/preparing your offer. Many companies take out loans so as to cover items like inventory, payroll, accounts payable, etc. Bear in mind that in some cases this can imply that revenue margins are too small. Lots of businesses fall under a revolving door of taking loans as a way to pay back 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 might have existing agreements with vendors that must be satisfied or may result in charges if terminated early.

Understanding the Customer Base, Competition and Area Demographics

How do companies in the area draw in new clients? Many times, businesses have repeat consumers, which form the core of their daily earnings. Particular elements such as brand-new competition growing up around the location, road building and construction, as well as personnel turnover can influence repeat clients and negatively affect future earnings. One vital point to take into consideration is the area of the business. Is it in a very trafficked shopping mall, or is it hidden from the main road? Certainly, the more people that see the business often, the greater the chance to build a returning customer base. A last idea is the basic location demographics. Is the business located in a largely inhabited city, or is it located on the outside border of town? Just how might the neighborhood typical household earnings impact future earnings prospects?