Listing ID: 72677
Well known, an iconic location for Eugene residents, students, and tourists to meet drink, and be happy as the local teams win another game. Great lease and landlord, loyal following, well-trained staff make this a turn-key opportunity for multiple location restaurateurs or an owner-operator looking to leverage their bartending/management skills with a successful acquisition of this full bar with craft tap beer/sodas & updated menu. Socially distanced seating has prepared this venue to survive where many others have succumbed. EG10650
- Asking Price: $279,000
- Cash Flow: $64,092
- Gross Revenue: $753,061
- EBITDA: N/A
- FF&E: N/A
- Inventory: $2,500
- Inventory Included: Yes
- Established: 2010
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:3,444
- Lot Size:N/A
- Total Number of Employees:5
- Furniture, Fixtures and Equipment:N/A
Hours Monday 11 am to 10 pm, Tuesday to Thursday 11 am to 11 pm, Friday 11 am to 12 pm, Saturday 8 am to 12 pm, Sunday 9 am to 10 pm
4 weeks, 10 hours per week
The venture was established in 2010, making the business 12 years old.
The deal will include inventory valued at $2,500, which is included in the asking price.
The business has 5 FT/9 PT employees and resides in a building with approx. square footage of 3,444 sq ft.
The real estate is leased by the company for $5,456 per Month
Why is the Current Owner Selling The Business?
There are all sorts of reasons why individuals choose to sell companies. Nevertheless, the real factor vs the one they say to you might be 2 absolutely different things. For instance, they might claim "I have a lot of other obligations" or "I am retiring". For lots of sellers, these reasons are valid. But, for some, these may simply be excuses to attempt to hide the reality of transforming demographics, increased competitors, current decrease in earnings, or an array of other reasons. This is why it is very vital that you not rely completely on a vendor's word, but instead, use the vendor's response in conjunction with your overall due diligence. This will repaint a much more practical image of the business's current situation.
Existing Debts and Future Obligations
If the current business is in debt, which lots of businesses are, then you will have reason to consider this when valuating/preparing your deal. Numerous businesses take out loans with the purpose of covering items such as supplies, payroll, accounts payable, etc. Keep in mind that sometimes this can suggest that profit margins are too small. Many companies fall into a revolving door of taking loans as a way to pay back various other loans. In addition to debts, there may likewise be future obligations to consider. There may be an outstanding lease on tools or the structure where the business resides. The business may have existing agreements with suppliers that need to be satisfied or may cause charges if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Just how do businesses in the area draw in new consumers? Most times, businesses have repeat clients, which form the core of their everyday profits. Specific aspects such as new competitors sprouting up around the location, road building, as well as staff turn over can impact repeat clients as well as adversely affect future profits. One crucial thing to take into consideration is the placement 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 regularly, the higher the opportunity to construct a returning consumer base. A final thought is the basic location demographics. Is the business located in a largely populated city, or is it situated on the edge of town? Just how might the regional typical family earnings influence future revenue prospects?