Listing ID: 73081
Established Venue | Great Food + Live Music
This well organized and popular business has an excellent local following and is a favorite of national and international business travelers who often seek lodging nearby and are drawn to an authentic dining & quality food experience. Great food and regular events attract quality clientele. The management controls expenses and food costs allowing profits to soar.
With a mouth-watering menu and strong website and ecommerce to aid with online ordering, as well as offering sit-down dining and robust take-out options. Sales reports show a strong increase over 2020 sales and business is growing. Located in an expanding region with travel destinations, this business caters to both locals, families, tourists and corporate travelers. They offer daily food specials and have happy hour events Monday-Saturday. This is your chance to own this successful sports bar and grill and realize your dream of being the owner of an award-winning food, local destination, live events & music venue in a charming and relaxed location in a foodie community. This business has the unique ability to have a Sports bar feel and still appeal to families and people of all ages.
- Asking Price: $550,000
- Cash Flow: $430,386
- Gross Revenue: $1,623,908
- EBITDA: N/A
- FF&E: $25,000
- Inventory: $17,000
- Inventory Included: Yes
- Established: N/A
The owner will provide 6 weeks of training to ensure orderly turnover
Owner would like to focus on other business ventures
The transaction will include inventory valued at $17,000, which is included in the listing price.
Why is the Current Owner Selling The Business?
There are all kinds of reasons individuals decide to sell companies. Nevertheless, the real factor and the one they say to you may be 2 absolutely different things. For instance, they may claim "I have a lot of other responsibilities" or "I am retiring". For lots of sellers, these factors are valid. But also, for some, these may simply be excuses to try to hide the reality of transforming demographics, increased competitors, recent reduction in revenues, or an array of other reasons. This is why it is extremely crucial that you not depend totally on a seller's word, however rather, use the seller's solution combined with your overall due diligence. This will repaint a much more realistic image of the business's current situation.
Existing Debts and Future Obligations
If the existing business is in debt, which lots of businesses are, then you will have reason to consider this when valuating/preparing your offer. Lots of operating businesses borrow money so as to cover items like stock, payroll, accounts payable, etc. Bear in mind that occasionally this can indicate that profit margins are too tight. Numerous businesses come under a revolving door of taking loans as a way to pay back other loans. Along with debts, there may additionally be future commitments to consider. There may be an outstanding lease on tools or the structure where the business resides. The business might have existing contracts with vendors that need to be fulfilled or may result in fines if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do businesses in the location draw in new customers? Often times, operating businesses have repeat customers, which develop the core of their everyday profits. Certain aspects such as brand-new competitors sprouting up around the location, roadway construction, and staff turnover can affect repeat customers and adversely influence future incomes. 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? Certainly, the more individuals that see the business often, the greater the chance to construct a returning client base. A final idea is the basic location demographics. Is the business located in a largely inhabited city, or is it located on the edge of town? How might the neighborhood typical home earnings effect future revenue prospects?