Listing ID: 72611
Prime Inner SE central to the vibrant Portland food & beverage scene. Located in a busy commercial district surrounded by offices, retail and residential.
HIGHLY VISIBLE – WELL KNOWN
This long-standing bar/restaurant was re-concepted recently. Currently an evenings-only bar operation with an interesting beverage and good casual food menu, periodic music events and an outdoor seating area for seasonal use and special events. The space seats 60-80 comfortably and could nicely accommodate a wide variety of bar concepts. It reads somewhere between local bar and “speakeasy’ atmosphere. The prior concept had been in operation for years and had shown steady revenues. The facility had a Full-On-Premises OLCC license
Featuring a real bar room atmosphere including two bars on two different levels (upstairs/downstairs) with distinctly different design and décor – urban kitsch and brick throughout different revenue areas, excellent lighting, cozy dining room, and a fully equipped kitchen. Nicely renovated and well maintained. In season, the outdoor seating area allows for a festive gathering place.
- Asking Price: $120,000
- Cash Flow: N/A
- Gross Revenue: $750,000
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 2010
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:2,280
- Lot Size:N/A
- Total Number of Employees:N/A
- Furniture, Fixtures and Equipment:N/A
Awesome local bar in the "zone".
Could use an owner-operator to drive a loyal following
The company was founded in 2010, making the business 12 years old.
The property is leased by the company for $5,200 per Month
Why is the Current Owner Selling The Business?
There are all kinds of reasons why people resolve to sell operating businesses. Nonetheless, the genuine factor vs the one they say to you might be 2 entirely different things. For instance, they may say "I have way too many various obligations" or "I am retiring". For numerous sellers, these reasons are valid. But, for some, these may simply be justifications to attempt to hide the reality of transforming demographics, increased competitors, current reduction in revenues, or an array of various other reasons. This is why it is very essential that you not rely absolutely on a vendor's word, yet instead, utilize the vendor's response in conjunction with your overall due diligence. This will paint an extra realistic image of the business's present scenario.
Existing Debts and Future Obligations
If the existing company is in debt, which lots of companies are, then you will have reason to consider this when valuating/preparing your offer. Lots of operating businesses borrow money so as to cover points like inventory, payroll, accounts payable, and so on. Remember that sometimes this can suggest that earnings margins are too thin. Lots of businesses come under a revolving door of taking loans as a way to pay back various 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 building where the business resides. The business might have existing contracts with suppliers that need to be met or may cause charges if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do operating businesses in the location attract brand-new customers? Most times, businesses have repeat consumers, which form the core of their daily revenues. Particular variables such as brand-new competitors growing up around the location, road building, and also employee turn over can affect repeat clients and also negatively influence future profits. One vital 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 highway? Undoubtedly, the more individuals that see the business often, the better the opportunity to construct a returning client base. A last thought is the basic area demographics. Is the business placed in a largely inhabited city, or is it situated on the edge of town? Exactly how might the neighborhood mean family income impact future earnings potential?