Listing ID: 73420
This long term, high profile restaurant has been a staple in their market for decades. The business has a well established client base and delivers a consistent local food flare that attracts families and travelers alike. The location provides an ease of access to the high volume traffic that passes by on a primary interstate as well as a high volume highway. The restaurant recently gain national recognition and has been drawing people in from several states away.
The property provides a free standing building (restaurant) as well as two curb cuts and parking for an estimated 50 vehicles. There is quick access to the highway and interstate along with a direct access into the local town.
- Asking Price: $800,000
- Cash Flow: $1
- Gross Revenue: $1
- EBITDA: $1
- FF&E: $100,000
- Inventory: $5,000
- Inventory Included: Yes
- Established: 1979
- Property Owned or Leased:Own
- Property Included:Yes
- Building Square Footage:2,195
- Lot Size:N/A
- Total Number of Employees:29
- Furniture, Fixtures and Equipment:N/A
The restaurant offers 2,195 Sf of usable space with 94 seat and a full service kitchen. Property about .5 acres of land with an estimated 50 parking spaces. The business is located directly off of Bellefontaine Street and has direct access to Hwy 75 and US 33. Both routes are major traffic corridors for North-South and East-West travelers and trucking.
Owners will provide on site training for buyers looking to keep the operation the same.
Retiring to focus on other business ventures.
Strong local and regional reputation. Great access to Hwy and Interstate. Direct access to the city of Wapa.
Opportunity to expand current hours back to original levels. Can drive deliver / third party take out sales.
The venture was founded in 1979, making the business 43 years old.
The sale will include inventory valued at $5,000, which is included in the suggested price.
The business has 29 employees and is located in a building with approx. square footage of 2,195 sq ft.
Why is the Current Owner Selling The Business?
There are all kinds of reasons people decide to sell operating businesses. Nonetheless, the true reason vs the one they tell you may be 2 absolutely different things. As an example, they may say "I have a lot of other responsibilities" or "I am retiring". For many sellers, these factors are valid. However, for some, these may just be reasons to try to hide the reality of changing demographics, increased competition, current reduction in revenues, or a variety of various other factors. This is why it is very essential that you not rely totally on a seller's word, yet instead, use the seller's answer together with your overall due diligence. This will repaint a more sensible image of the business's present circumstance.
Existing Debts and Future Obligations
If the current entity is in debt, which numerous companies are, then you will need to consider this when valuating/preparing your offer. Lots of businesses finance loans in order to cover items such as stock, payroll, accounts payable, etc. Remember that in some cases this can suggest that revenue margins are too small. Lots of 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 think about. There might be an outstanding lease on tools or the building where the business resides. The business might have existing agreements with suppliers that have to be fulfilled or may cause penalties if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Just how do companies in the area draw in brand-new clients? Most times, businesses have repeat consumers, which create the core of their day-to-day revenues. Specific variables such as brand-new competition growing up around the area, road building and construction, and employee turn over can affect repeat consumers as well as negatively influence future incomes. One vital point to consider is the placement of the business. Is it in a very trafficked shopping mall, or is it concealed from the highway? Clearly, the more individuals that see the business on a regular basis, the greater the possibility to develop a returning client base. A last idea is the general location demographics. Is the business located in a densely populated city, or is it located on the outskirts of town? Exactly how might the regional mean house earnings effect future earnings potential?