Listing ID: 72612
Southeast retail neighborhood – on a popular main Blvd
Capable of a wide variety of concept from coffee/baking, quick casual to fine-dining
Charming interior decor – beautiful well maintained building
Full kitchen w/hood/walk-in/grease trap and lots of great equipment
Outdoor dining in two areas on property
Separate Production kitchen – suitable for prep, baking, events prep, satellite locations
Great rent rate
Owner parking on site
- Asking Price: $175,000
- Cash Flow: N/A
- Gross Revenue: $488,000
- 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:N/A
- Lot Size:N/A
- Total Number of Employees:N/A
- Furniture, Fixtures and Equipment:N/A
Fabulous kitchen facility. Located in a fully renovated, converted Victorian building, featuring a well-equipped, clean kitchen with a large hood system, walk-in and separate prep and baking areas, the facility has good street visibility and is adaptable to many kinds of food operations. The setting is comfortable/old world festive with wood floors throughout the dining room. There is the ability to seat 60 plus outdoor deck and patio dining areas (approx 26 seats). The total square footage is approximately 2,965, including 1,500 on the main level where the kitchen, main dining room and bar are located, 1,000 on the lower level where the kitchen prep, baking area, walk in and office are located, and upstairs, which houses a private dining room. Additionally, there is a GREAT OUTDOOR PATIO ON TWO SIDES.
Best location - high visibility
production kitchen area enables expansion of revenues.
The business was started in 2010, making the business 12 years old.
The building is leased by the business for $3,200 per Month
Why is the Current Owner Selling The Business?
There are all sorts of reasons people decide to sell operating businesses. Nonetheless, the true reason and the one they say to you might be 2 totally different things. For instance, they may claim "I have a lot of various obligations" or "I am retiring". For lots of sellers, these reasons are valid. However, for some, these might simply be reasons to attempt to hide the reality of altering demographics, increased competition, recent reduction in revenues, or a variety of various other reasons. This is why it is very essential that you not depend totally on a seller's word, but instead, utilize the seller's answer together with your total due diligence. This will paint a more sensible picture of the business's present situation.
Existing Debts and Future Obligations
If the current entity is in debt, which lots of businesses are, then you will need to consider this when valuating/preparing your offer. Many operating businesses finance loans with the purpose of covering items such as inventory, payroll, accounts payable, so on and so forth. Keep in mind that in some cases this can mean that earnings margins are too tight. Numerous companies fall into a revolving door of taking loans as a way to pay back other loans. Along with debts, there may likewise be future obligations to take into consideration. There may be an outstanding lease on tools or the structure where the business resides. The business may have existing agreements with suppliers that should be fulfilled or may cause charges if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Just how do businesses in the location attract new clients? Many times, operating businesses have repeat clients, which form the core of their everyday profits. Certain factors such as brand-new competitors sprouting up around the area, roadway building, and staff turn over can impact repeat consumers as well as negatively affect future revenues. One crucial point to consider is the area of the business. Is it in a highly trafficked shopping center, or is it concealed from the highway? Obviously, the more people that see the business often, the greater the possibility to develop a returning client base. A final thought is the basic area demographics. Is the business placed in a largely inhabited city, or is it located on the outside border of town? Just how might the local average home earnings effect future income potential?