Listing ID: 72757
SALE PENDING! Popular lounge known for their craft cocktails with 1586 sq. ft., 6 Lottery machines which did a net of $130k in 2021 with being closed for almost three months, pool table, small cooking area (no commercial hood), camera system, all equipment included and is known the place to be in Portland. There are four employee’s and an off premise owner. Seating inside for 30 to 40 people and seating for 16 outside. Hours of operation are Noon to 2:30 a.m. seven days a week. Lease is $4571 including all triple net charges and expires in 2023. There is currently an additional five year option with a $3284.47 lease deposit. Landlord is willing to give new Buyer a new lease. This business is turn key and ready to go! For additional information go to WILTSEYBARS.COM. All Buyers will be asked to sign confidentiality agreement and verify funds.
- Asking Price: $250,000
- Cash Flow: N/A
- Gross Revenue: N/A
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 2018
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:1,586
- Lot Size:N/A
- Total Number of Employees:4
- Furniture, Fixtures and Equipment:N/A
New Business Venture
The company was established in 2018, making the business 4 years old.
The business has 4 employees and is located in a building with disclosed square footage of 1,586 sq ft.
The building is leased by the business for $4,571 per Month
Why is the Current Owner Selling The Business?
There are all types of reasons individuals resolve to sell operating businesses. Nevertheless, the true reason vs the one they say to you may be 2 entirely different things. As an example, they might claim "I have too many other responsibilities" or "I am retiring". For numerous sellers, these reasons are valid. However, for some, these might just be justifications to attempt to conceal the reality of transforming demographics, increased competitors, current reduction in revenues, or a variety of various other factors. This is why it is very crucial that you not depend entirely on a seller's word, however instead, use the seller's solution together with your overall due diligence. This will repaint a more practical image of the business's current circumstance.
Existing Debts and Future Obligations
If the existing company is in debt, which many businesses are, then you will certainly need to consider this when valuating/preparing your offer. Many operating businesses borrow money in order to cover points such as supplies, payroll, accounts payable, and so on. Bear in mind that occasionally this can indicate that earnings margins are too thin. Numerous businesses come under a revolving door of taking on debt as a way to pay back various other loans. Along with debts, there may also be future obligations to consider. There may be an outstanding lease on tools or the structure where the business resides. The business might have existing agreements with vendors that should be fulfilled or might lead to charges if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do companies in the location attract new consumers? Many times, companies have repeat customers, which develop the core of their day-to-day revenues. Particular aspects such as brand-new competitors growing up around the location, road construction, and also personnel turn over can impact repeat clients and also adversely influence future profits. One crucial thing to think about is the placement of the business. Is it in an extremely trafficked shopping center, or is it concealed from the highway? Obviously, the more individuals that see the business regularly, the higher the possibility to construct a returning consumer base. A final idea is the basic location demographics. Is the business situated in a densely populated city, or is it situated on the outskirts of town? Exactly how might the neighborhood median family income impact future earnings prospects?