Business Overview

Boston Neighborhood restaurant with modern design and top-notch build-out. The restaurant includes an outstanding indoor/outdoor Bar with a sleek contemporary look and feel. The site has a corner location with excellent visibility and tons of activity generators. The eatery also includes a take-out counter with its own entrance ideal for any pickup, take-out and grab and go concepts. This is priced to move quickly.

FACILITY: Brand new top-notch design, build-out and equipment package
PARKING: Local city street parking, lots, and garages
EQUIPMENT: The equipment is in excellent condition and has been well maintained.
LEASE TERM: 10 Years with two (2) 5-year options
BASE RENT: $14,350 per month (including triple nets)
CONCEPT: Bar & Restaurant
SIZE: 3,200 square feet
SEATS: 150 Seats Inside plus outdoor seating
HOURS: Open late daily
LICENSES: Full Liquor License (Landlord will allow the use of their license)
SALES: $1,500,000 per year

Financial

  • Asking Price: $299,000
  • Cash Flow: N/A
  • Gross Revenue: $1,500,000
  • EBITDA: N/A
  • FF&E: N/A
  • Inventory: N/A
  • Inventory Included: N/A
  • Established: N/A

Why is the Current Owner Selling The Business?

There are all types of reasons people decide to sell businesses. Nevertheless, the real reason vs the one they tell you might be 2 absolutely different things. As an example, they might say "I have too many other commitments" or "I am retiring". For lots of sellers, these reasons stand. However, for some, these may just be excuses to attempt to conceal the reality of altering demographics, increased competitors, recent decrease in profits, or a variety of other reasons. This is why it is extremely crucial that you not rely entirely on a seller's word, but instead, utilize the vendor's answer in conjunction with your general due diligence. This will paint a much more sensible image of the business's current scenario.

Existing Debts and Future Obligations

If the current business is in debt, which numerous businesses are, then you will certainly need to consider this when valuating/preparing your offer. Many companies take out loans in order to cover points such as stock, payroll, accounts payable, etc. Keep in mind that occasionally this can mean that profit margins are too small. Lots of businesses fall into a revolving door of taking loans as a way to pay back other loans. Along with debts, there may also be future commitments to take into consideration. There may be an outstanding lease on equipment or the structure where the business resides. The business might have existing contracts with suppliers that should be satisfied or might cause charges if canceled early.

Understanding the Customer Base, Competition and Area Demographics

How do businesses in the area draw in new clients? Many times, businesses have repeat customers, which form the core of their day-to-day earnings. Specific elements such as brand-new competitors sprouting up around the location, roadway building and construction, as well as personnel turnover can influence repeat customers and also adversely impact future profits. One essential point to consider is the placement of the business. Is it in an extremely trafficked shopping center, or is it hidden from the highway? Obviously, the more people that see the business regularly, the higher the chance to construct a returning consumer base. A final idea is the general area demographics. Is the business located in a densely inhabited city, or is it located on the outside border of town? How might the neighborhood typical house income impact future earnings prospects?