Listing ID: 73041
Restaurant, Rental Cabins, and Owners Residence 3,400′ – Many Lake Views
The owners have built a strong brand drawing about 80% of their restaurant
business from locals.
The owners have made major upgrades and additions every year for the past 5+
years, resulting in growing sales and profits year over year. No deferred maintenance!
Restaurant seats 150, with many tables having a lakeview. There is a large
patio area with lake views too. Sales for 2019 were initially impacted as
they made adjustments due to COVID restrictions. They ended up with sales slightly greater than 2018 but cost where higher reducing net.
They ended up profitable in 2019 with 2020 Sales & Net up 25%/55% over 2019 and 2021 Sales & Net up 25%/35% over 2020
Sales for 2021 completed another record year. There has been consistent substantial growth for past 5 years boosted by all the upgrades and excellent management of this property.
The owner’s house could be converted into 2 units for rental to provide additional income..
There are rental cabins which have all been upgraded and many have lake
views. There is also plenty of room to add 3 more cabins without taking away from the intimate feel of the resort.
Note: The owner’s residence is upscale and makes a comfortable home private from day to day happenings if wanted.
Real Estate is Listed by Richard Roberts at The Brandon Group.
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: $2,375,000
- Cash Flow: $492,000
- Gross Revenue: $2,125,000
- EBITDA: N/A
- FF&E: $158,356
- Inventory: $5,000
- Inventory Included: Yes
- Established: 1940
- Property Owned or Leased:Own
- Property Included:Yes
- Building Square Footage:3,400
- Lot Size:N/A
- Total Number of Employees:11
- Furniture, Fixtures and Equipment:N/A
The entire complex has been totally upgraded over the past five years to the highest standards possible. The only thing you will need to do is standard day to day maintenance.
The owners are going to stay in the area to provide all the training and support needed by the new owners.
This part of the country continues to grow at an above average rate. We feel the growth in population and the quality of the product will continue to keep this growing.
The hours in the restaurant can be extended and also add Mondays to the days open. Breakfast could be added to the menu. The cabins are fully booked for the summer and fishing/hunting times which indicates there may be some room for price increases. There is room for additional cabins to be built. "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 founded in 1940, making the business 82 years old.
The deal does include inventory valued at $5,000, which is included in the suggested price.
The business has 11FT 14PT employees and is located in a building with disclosed square footage of 3,400 sq ft.
Why is the Current Owner Selling The Business?
There are all types of reasons people decide to sell operating businesses. Nevertheless, the genuine factor vs the one they say to you might be 2 totally different things. For instance, they may say "I have a lot of other commitments" or "I am retiring". For numerous sellers, these reasons are valid. But also, for some, these may simply be reasons to try to hide the reality of changing demographics, increased competition, recent reduction in profits, or an array of other factors. This is why it is really important that you not rely completely on a vendor's word, yet instead, utilize the seller's response in conjunction with your overall due diligence. This will paint a more practical picture of the business's existing scenario.
Existing Debts and Future Obligations
If the existing entity is in debt, which lots of businesses are, then you will have reason to consider this when valuating/preparing your deal. Many businesses finance loans so as to cover points like supplies, payroll, accounts payable, so on and so forth. Keep in mind that in some cases this can mean that profit margins are too tight. Lots of companies fall into a revolving door of taking on debt as a way to pay back other loans. In addition to debts, there may additionally be future obligations to take into consideration. There might be an outstanding lease on equipment or the building where the business resides. The business might have existing contracts with suppliers that should be satisfied or might cause fines if terminated early.
Understanding the Customer Base, Competition and Area Demographics
How do businesses in the area draw in brand-new consumers? Often times, companies have repeat consumers, which form the core of their day-to-day profits. Particular elements such as new competitors growing up around the location, road building and construction, as well as personnel turnover can influence repeat customers as well as adversely influence future profits. One crucial point to consider is the area of the business. Is it in an extremely trafficked shopping mall, or is it concealed from the main road? Undoubtedly, the more people that see the business often, the higher the opportunity to develop a returning consumer base. A last thought is the general location demographics. Is the business situated in a largely inhabited city, or is it located on the edge of town? Just how might the local typical household income influence future earnings prospects?