Listing ID: 72767
SALE PENDING! Established Pub which is popular with all of the locals that has 6 Lottery machines which did a net of $180k in 2021, 1500 square feet, 4 employees, small cooking area (no hood system), full Olcc license and an off premise owner! Hours of operation are 10:00 a.m. until 10:00 p.m. Sunday through Thursday and 10:00 a.m. until midnight on Friday and Saturday. Lease is $2317 per month plus NNN charges. Lease expires in 2027. There is an opportunity to have an additional 1502 square feet next door to location to expand for a bar or restaurant area. The lease for the second space is $1878 per month plus triple net charges. This has proven to be a very successful business over the prior years and has great potential for higher sales by extending business hours and adding more food. For additional information go to WILTSEYBARS.COM. All Buyers will be asked to verify funds and credit.
- Asking Price: $300,000
- Cash Flow: N/A
- Gross Revenue: N/A
- EBITDA: N/A
- FF&E: N/A
- Inventory: $2,000
- Inventory Included: N/A
- Established: 2007
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:1,500
- Lot Size:N/A
- Total Number of Employees:4
- Furniture, Fixtures and Equipment:N/A
Located in busy strip mall
Seller will train new Buyer
Seller Just Accepted a New Position
The company was established in 2007, making the business 15 years old.
The sale shall not include inventory valued at $2,000*, which ins't included in the requested price.
The business has 4 employees and is located in a building with approx. square footage of 1,500 sq ft.
The building is leased by the business for $2,317 per Month
Why is the Current Owner Selling The Business?
There are all types of reasons individuals resolve to sell operating businesses. Nonetheless, the genuine reason vs the one they say to you may be 2 entirely different things. For instance, they might claim "I have too many various responsibilities" or "I am retiring". For many sellers, these factors are valid. But, for some, these might simply be justifications to attempt to conceal the reality of transforming demographics, increased competitors, recent decrease in profits, or a range of various other factors. This is why it is extremely essential that you not depend entirely on a seller's word, but instead, use the seller's response combined with your general due diligence. This will repaint an extra realistic picture of the business's present situation.
Existing Debts and Future Obligations
If the existing company is in debt, which numerous businesses are, then you will certainly need to consider this when valuating/preparing your offer. Numerous businesses borrow money with the purpose of covering points such as inventory, payroll, accounts payable, etc. Bear in mind that sometimes this can suggest that revenue margins are too small. Numerous companies fall into a revolving door of taking loans as a way to pay back various other loans. Along with debts, there may additionally be future obligations to consider. There might be an outstanding lease on equipment or the structure where the business resides. The business may have existing agreements with suppliers that must be fulfilled or may cause penalties if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do operating businesses in the location attract new customers? Most times, businesses have repeat customers, which create the core of their day-to-day revenues. Certain elements such as new competition growing up around the area, roadway construction, and also personnel turn over can influence repeat consumers and adversely influence future earnings. One important thing to consider is the area of the business. Is it in a highly trafficked shopping mall, or is it concealed from the highway? Certainly, the more individuals that see the business on a regular basis, the greater the possibility to develop a returning customer base. A last idea is the basic area demographics. Is the business situated in a densely populated city, or is it located on the outskirts of town? How might the local mean home earnings influence future revenue prospects?