Listing ID: 73454
This Tavern & Grill has been in this location since the late 1960’s. It is in a fabulous location in a very busy Shopping Center with a corner traffic light for great access. The tavern has an amazing patio that seats over 60 with heaters to get you thru the chilly nights.
This business has a pizza shop in the tavern with its own entrance. The bar has 2 dining rooms with a great round bar in the middle. The Tavern seats over 100 inside.
This location is surrounded by homes, apartments, condo’s, office buildings, and many other retailers. This is a very densely populated area that works well for this Tavern in this location
Owners are retiring out of this business- time for a new owner
- Asking Price: $139,000
- Cash Flow: N/A
- Gross Revenue: N/A
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 1967
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:3,200
- Lot Size:N/A
- Total Number of Employees:N/A
- Furniture, Fixtures and Equipment:N/A
3200 sq ft Tavern with large patio. Inside are 2 dining rooms with round bar. Kitchen includes walk in cooler and hood with suppression
Owners will train as necessary
A large PRO- this is well established with a long history
New Owner New Ideas New Mgmt
The business was started in 1967, making the business 55 years old.
The real estate is leased by the business for $2,900 per Month
Why is the Current Owner Selling The Business?
There are all sorts of reasons why people choose to sell businesses. However, the genuine factor and the one they say to you might be 2 totally different things. As an example, they might state "I have too many various commitments" or "I am retiring". For lots of sellers, these reasons stand. However, for some, these might just be justifications to attempt to hide the reality of transforming demographics, increased competitors, current reduction in incomes, or a variety of various other reasons. This is why it is really crucial that you not depend totally on a seller's word, yet instead, use the vendor's solution along with your total due diligence. This will paint a much more realistic picture 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 deal. Lots of operating businesses borrow money in order to cover things like supplies, payroll, accounts payable, and so on. Keep in mind that sometimes this can suggest that revenue margins are too thin. Many companies come under a revolving door of taking loans as a way to pay back other loans. In addition to debts, there may also be future obligations to take into consideration. There might be an outstanding lease on tools or the building where the business resides. The business might have existing agreements with vendors that have to be satisfied or might lead to penalties if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do businesses in the area attract brand-new clients? Often times, operating businesses have repeat consumers, which develop the core of their everyday revenues. Specific factors such as new competitors sprouting up around the location, road building, as well as staff turnover can affect repeat customers and adversely influence future profits. One important point to think about is the area of the business. Is it in a very trafficked shopping center, or is it hidden from the highway? Clearly, the more individuals that see the business often, the better the possibility to develop a returning consumer base. A last idea is the general area demographics. Is the business situated in a densely inhabited city, or is it located on the edge of town? Just how might the regional typical household income influence future income prospects?