Listing ID: 73163
Motivated sellers are offering a well-established and community supported family-owned diner, open for both breakfast and lunch. Situated in a family oriented community, this casual diner has a cozy atmosphere and prides itself on being family-friendly, near schools and businesses, and is easily visible and situated on a major road with a high traffic count. Staff will stay on for ownership change. Offers both dine-in and take-out. The menu features: eggs, omelets, pancakes, soups, salads, wraps, Mexican specialties, and burgers along with many other delicious meals. Currently open from 8am to 2pm, presenting a great opportunity for expansion by expanding hours and offering an evening dinner menu. Ample parking, with all new furnishings and kitchen equipment.
- Asking Price: $125,000
- Cash Flow: N/A
- Gross Revenue: $435,558
- EBITDA: N/A
- FF&E: $58,030
- Inventory: N/A
- Inventory Included: Yes
- Established: 2019
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:2,000
- Lot Size:N/A
- Total Number of Employees:3
- Furniture, Fixtures and Equipment:N/A
Moving out of state
The venture was founded in 2019, making the business 3 years old.
The company has 3 employees and is situated in a building with disclosed square footage of 2,000 sq ft.
The real estate is leased by the company for $4,737 per Month
Why is the Current Owner Selling The Business?
There are all kinds of reasons why people decide to sell companies. Nonetheless, the true reason vs the one they say to you might be 2 completely different things. For instance, they may claim "I have way too many various commitments" or "I am retiring". For numerous sellers, these reasons are valid. But, for some, these may simply be excuses to attempt to conceal the reality of changing demographics, increased competition, recent decrease in earnings, or a variety of various other factors. This is why it is extremely crucial that you not rely entirely on a seller's word, but instead, use the seller's solution along with your overall due diligence. This will repaint an extra reasonable picture of the business's current circumstance.
Existing Debts and Future Obligations
If the current company is in debt, which lots of companies are, then you will certainly have reason to consider this when valuating/preparing your deal. Lots of companies finance loans in order to cover items like supplies, payroll, accounts payable, etc. Keep in mind that in some cases this can indicate that revenue margins are too small. Lots of businesses fall under a revolving door of taking on debt as a way to pay back other loans. In addition to debts, there may additionally be future commitments to think about. There might be an outstanding lease on equipment or the structure where the business resides. The business may have existing contracts with vendors that have to be met or may result in fines if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Just how do companies in the area attract brand-new customers? Often times, operating businesses have repeat clients, which form the core of their day-to-day profits. Certain elements such as brand-new competitors growing up around the location, road construction, and employee turn over can affect repeat clients as well as negatively influence future revenues. One crucial thing to think about is the area of the business. Is it in a highly trafficked shopping mall, or is it hidden from the highway? Certainly, the more people that see the business on a regular basis, the better the possibility to build a returning client base. A last thought is the basic location demographics. Is the business placed in a densely inhabited city, or is it located on the edge of town? Exactly how might the neighborhood median household income impact future income prospects?