Listing ID: 73396
This fully equipped Bar and Restaurant located in a developing area of Parson Ave can be up and running immediately. The location has a full liquor permit (D5/D6). Space has a beautiful live-cut bar top, fully equipped kitchen with a hood (Ansul System), Dining room, Stage for bands and entertainment, patio and all FF&E necessary to open up. Space can be acquired and a long term lease is being offered by the landlord. This space will go fast!
- Asking Price: $70,000
- Cash Flow: N/A
- Gross Revenue: N/A
- EBITDA: N/A
- FF&E: $75,000
- Inventory: N/A
- Inventory Included: N/A
- Established: 2019
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:2,988
- Lot Size:N/A
- Total Number of Employees:N/A
- Furniture, Fixtures and Equipment:N/A
The building is about 3,000 SF and has a full service kitchen with hood, beautiful bar with live-cut top, stage for entertainment, and dining room with a seating capacity at just under 50 people. Location has a patio on the side and a parking lot next to the building. There is tons of opportunity to expand the business and create a unique space in a rapidly growing market.
This is an asset and liquor permit sale. The business and it's recipes are not included. There are no financials available for review.
Owner has closed the business
Great development area with lots of new businesses moving into the market. This is an excellent opportunity to for a restauranteur to open up or expand into.
Great options to expand patio and develop a strong following with the surrounding residential markets.
The venture was founded in 2019, making the business 3 years old.
The business has 0 employees and resides in a building with estimated square footage of 2,988 sq ft.
The real estate is leased by the business for $3,500 per Month
Why is the Current Owner Selling The Business?
There are all sorts of reasons why people resolve to sell companies. Nevertheless, the genuine reason and the one they tell you may be 2 entirely different things. For instance, they might say "I have way too many other commitments" or "I am retiring". For many sellers, these reasons are valid. But also, for some, these might just be excuses to try to hide the reality of changing demographics, increased competition, current decrease in earnings, or a range of various other reasons. This is why it is very vital that you not depend absolutely on a seller's word, but instead, use the seller's answer in conjunction with your overall due diligence. This will paint an extra sensible image of the business's current situation.
Existing Debts and Future Obligations
If the existing business is in debt, which lots of companies are, then you will certainly need to consider this when valuating/preparing your offer. Lots of companies take out loans with the purpose of covering things such as stock, payroll, accounts payable, etc. Remember that sometimes this can suggest that profit margins are too thin. Lots of businesses come under a revolving door of taking loans as a way to pay back other loans. In addition to debts, there may additionally be future obligations to take into consideration. There may be an outstanding lease on equipment or the structure where the business resides. The business might have existing agreements with suppliers that should be met or might lead to charges if canceled early.
Understanding the Customer Base, Competition and Area Demographics
How do companies in the area draw in brand-new clients? Many times, companies have repeat consumers, which create the core of their daily revenues. Specific factors such as new competition growing up around the area, road construction, and employee turn over can affect repeat consumers and also adversely impact future incomes. One essential point to consider is the location of the business. Is it in a very trafficked shopping mall, or is it hidden from the highway? Obviously, the more people that see the business often, the greater the chance to construct a returning customer base. A final idea is the general location demographics. Is the business located in a densely populated city, or is it situated on the edge of town? Exactly how might the neighborhood typical house income effect future revenue prospects?