Listing ID: 73188
This restaurant is Busy, Profitable, and a well-known Thai Restaurant in Edmond, OK.
2020 is another year of growth in both revenue and profit for this great business. This is a family style, sit-down restaurant that serves excellent authentic Thai dishes. Offers a clean and friendly environment with live piano music on the weekends. The very busy Thai restaurant also has many delivery service companies that customers can choose from for home delivery, catering, business meals & events, etc.
This great location is centered on the most traveled street in Edmond. This is a fantastic opportunity for a buyer to purchase a great business that remains profitable and continues to grow.
- Asking Price: $280,000
- Cash Flow: $191,816
- Gross Revenue: $755,123
- EBITDA: N/A
- FF&E: $150,000
- Inventory: $2,500
- Inventory Included: Yes
- Established: N/A
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:20
- Furniture, Fixtures and Equipment:N/A
This is one of three locations in the greater Oklahoma City metro area that do not compete with each other. This business continues to experience growth and expanded their service capabilities.
There are limited competitive Thai and sushi establishments in the local area. This establishment is more environmentally desirable and sits in a much more accessible location than its competitors.
The business is currently closed on Sunday. Opening on Sunday would add an additional $150k+ per year. Business is located next to other great restaurants that are also busy. Improved exterior marketing would drive more traffic to the location.
The sale shall include inventory valued at $2,500, which is included in the suggested price.
Why is the Current Owner Selling The Business?
There are all sorts of reasons why individuals resolve to sell businesses. However, the real factor and the one they say to you may be 2 totally different things. For instance, they might say "I have a lot of other commitments" or "I am retiring". For numerous sellers, these factors stand. But, for some, these may simply be justifications to try to hide the reality of changing demographics, increased competition, current decrease in profits, or an array of other factors. This is why it is really vital that you not rely absolutely on a vendor's word, but instead, make use of the seller's answer in conjunction with your overall due diligence. This will paint an extra practical picture of the business's existing circumstance.
Existing Debts and Future Obligations
If the current business is in debt, which numerous businesses are, then you will certainly have reason to consider this when valuating/preparing your deal. Many companies borrow money with the purpose of covering things such as supplies, payroll, accounts payable, and so on. Bear in mind that in some cases this can indicate that profit margins are too tight. Many companies fall under a revolving door of taking on debt as a way to pay back other loans. In addition to debts, there may also be future obligations to take into consideration. There may be an outstanding lease on tools or the structure where the business resides. The business might have existing agreements with vendors that have to be satisfied or might cause fines if terminated early.
Understanding the Customer Base, Competition and Area Demographics
How do operating businesses in the area attract new consumers? Most times, companies have repeat customers, which develop the core of their everyday revenues. Specific aspects such as new competition growing up around the location, road construction, and staff turn over can influence repeat customers as well as adversely affect future profits. One essential point to take into consideration is the placement of the business. Is it in an extremely trafficked shopping center, or is it hidden from the main road? Undoubtedly, the more individuals that see the business regularly, the higher the opportunity to construct a returning consumer base. A last thought is the basic area demographics. Is the business located in a densely inhabited city, or is it located on the outskirts of town? Just how might the local average household earnings influence future revenue prospects?