Listing ID: 73014
Eureka Springs Icon – Restaurant currently run by owner’s daughter generating good profit serving breakfast and lunch only. Sales for 2021 exceeded $500K beating 2019.
Adding Dinner during the long tourist season could add $200-250K in sales and $50K to the bottom line.
Beer and Wine Permit
Current employees ready to stay.
Real Estate with living quarters and office space included. New owner could use or rent for $7,500-10,000 per year.
PLEASE DO NOT TALK TO EMPLOYEES ABOUT BUSINESS/REAL ESTATE SALE.
Seller requires signed Non-Disclosure Agreement (NDA) to release financial and operational information.
Please contact Richard Roberts by using email form to the right or by calling his direct number, 479.689.4455 Ext 11.
NOTE: The phone number to the right that is revealed when you click on button is not our phone number. It is a tacking number that we do not use.
- Asking Price: $475,000
- Cash Flow: $118,039
- Gross Revenue: $504,289
- EBITDA: N/A
- FF&E: $116,141
- Inventory: $4,500
- Inventory Included: Yes
- Established: 2013
- Property Owned or Leased:Own
- Property Included:Yes
- Building Square Footage:4,000
- Lot Size:N/A
- Total Number of Employees:N/A
- Furniture, Fixtures and Equipment:N/A
The facilities are on a main thoroughfare with a daily average traffic count of 6,600-9,300. There is a new patio area, interior remodeled during pandemic, plenty of parking. Living quarters are suitable for owner, renting or AirBnB. Real estate included.
Most staff expected to stay. Transition training/support 2-4 weeks.
There appears to be a pent-up demand for tourist destination and restaurants in particular.
Adding dinner could increase sales by 30-50%. Adding hours/days also would increase sales. "The fastest-growing counties and metropolitan area in Arkansas over the past decade were in the state's northwest region, according to data released Thursday from the U.S. Census Bureau. Benton County had the state's fastest growth, with its population increasing by 28.5% since 2010 to 284,333. The second fastest growing, Washington County, saw its population increase by about 21% to 245,871. The Fayetteville-Springdale-Rogers metropolitan area grew by 24.2% to 546,725. The region is home to the headquarters of Walmart and Tyson Foods, as well as the University of Arkansas' flagship campus in Fayetteville." Source AP News
The company was established in 2013, making the business 9 years old.
The transaction will include inventory valued at $4,500, which is included in the asking price.
Why is the Current Owner Selling The Business?
There are all kinds of reasons people resolve to sell companies. Nevertheless, the real reason vs the one they tell you might be 2 totally different things. As an example, they may claim "I have way too many various responsibilities" or "I am retiring". For lots of sellers, these factors stand. But, for some, these might simply be reasons to attempt to conceal the reality of altering demographics, increased competitors, current decrease in incomes, or a range of various other factors. This is why it is very crucial that you not depend absolutely on a vendor's word, however rather, utilize the seller's solution along with your overall due diligence. This will repaint a more realistic picture of the business's present situation.
Existing Debts and Future Obligations
If the existing entity is in debt, which many businesses are, then you will have reason to consider this when valuating/preparing your deal. Numerous businesses borrow money with the purpose of covering points like inventory, payroll, accounts payable, and so on. Keep in mind that occasionally this can imply that revenue 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 additionally be future obligations to take into consideration. There might be an outstanding lease on equipment or the structure where the business resides. The business might have existing contracts with suppliers that should be met or may cause fines if terminated early.
Understanding the Customer Base, Competition and Area Demographics
How do companies in the location draw in new consumers? Most times, businesses have repeat customers, which form the core of their daily earnings. Certain variables such as brand-new competition sprouting up around the area, road building and construction, as well as employee turnover can affect repeat customers as well as adversely impact future earnings. One crucial thing to consider is the area of the business. Is it in an extremely trafficked shopping center, or is it hidden from the highway? Undoubtedly, the more people that see the business on a regular basis, the greater the chance to build a returning client base. A final idea is the general area demographics. Is the business situated in a largely populated city, or is it situated on the edge of town? Exactly how might the local median family earnings influence future income potential?