Listing ID: 71550
Excellent opportunity to own this beautifully built out Asian themed restaurant in South County area of RI. This restaurant is all new inside with state of the art equipment and huge bar. This location is a proven winner in a highly successful mixed-use development. Seating capacity of 115 patrons. Offering a Full Liquor License, this location benefits from being surrounded by many revenue generators including prominent residential developments, movie theater and outdoor entertainment in the warmer months.
This location will not disappoint and would make a perfect opportunity for an experienced Chef owner/operator.
The huge dining room and kitchen can accommodate many concept choices.
Add sushi bar to this establishment and watch revenue explode!
- Asking Price: $149,000
- Cash Flow: N/A
- Gross Revenue: $1,000,000
- EBITDA: N/A
- FF&E: $225,000
- Inventory: N/A
- Inventory Included: N/A
- Established: 2015
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:3,409
- Lot Size:N/A
- Total Number of Employees:15
- Furniture, Fixtures and Equipment:N/A
Seller will assist in transitional training and support if requested.
Owner owns multiple businesses and seeks to sell this location due to logistics
This is a young business with consistent year over year growth and unlimited potential.
The company was started in 2015, making the business 7 years old.
The business has 15 employees and is situated in a building with approx. square footage of 3,409 sq ft.
The property is leased by the business for $7,300 per Month
Why is the Current Owner Selling The Business?
There are all sorts of reasons people resolve to sell businesses. Nevertheless, the real reason vs the one they say to you might be 2 completely different things. As an example, they may say "I have too many various commitments" or "I am retiring". For numerous sellers, these reasons are valid. However, for some, these may simply be reasons to try to hide the reality of transforming demographics, increased competitors, current reduction in revenues, or an array of other factors. This is why it is very vital that you not count absolutely on a vendor's word, yet rather, utilize the vendor's solution together with your general due diligence. This will repaint an extra practical image of the business's current circumstance.
Existing Debts and Future Obligations
If the current business is in debt, which lots of businesses are, then you will need to consider this when valuating/preparing your offer. Lots of companies finance loans in order to cover things like inventory, payroll, accounts payable, so on and so forth. Remember that in some cases this can mean that profit margins are too small. Numerous businesses fall under a revolving door of taking loans as a way to pay back other loans. Along with debts, there may additionally be future commitments to take into consideration. There might be an outstanding lease on tools or the structure where the business resides. The business might have existing contracts with vendors that should be met or may lead to fines if terminated early.
Understanding the Customer Base, Competition and Area Demographics
How do businesses in the area bring in new customers? Most times, businesses have repeat customers, which develop the core of their everyday earnings. Certain variables such as brand-new competition growing up around the area, road building and construction, as well as employee turnover can impact repeat clients as well as adversely affect future earnings. One important thing to think about is the area of the business. Is it in a highly trafficked shopping center, or is it hidden from the main road? Clearly, the more individuals that see the business regularly, the greater the opportunity to construct a returning customer base. A final thought is the basic location demographics. Is the business placed in a densely populated city, or is it located on the outskirts of town? Exactly how might the local average household earnings effect future revenue prospects?