Listing ID: 73461
This Diner is located in the very popular area of Powell. It is in a strip center where all the businesses have been there for years. The strip has easy access with great visibility. The Diner is located in the middle of neighborhood with large density of homes and other businesses
This Diner has been in this location since 2006 with a great “Diner” feel. It has the popular diner counter to sit and watch all the action., It has a small dinning room, patio, and kitchen with hood. There is extra storage located down the “hall” in the strip center.
The diner seats 30 inside with another 16 on patio. The space is 1000 sq ft with rent at $1500 month
Owners are needing to sell due to personal health reasons
- Asking Price: $99,000
- Cash Flow: $75,000
- Gross Revenue: $300,000
- EBITDA: N/A
- FF&E: N/A
- Inventory: $5,000
- Inventory Included: N/A
- Established: 2006
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:1,000
- Lot Size:N/A
- Total Number of Employees:N/A
- Furniture, Fixtures and Equipment:N/A
1000 sq ft Diner with counter seating, dining room seating, and patio seating
Owners will support & train new owners as needed
Can open on Mondays to increase business
The venture was started in 2006, making the business 16 years old.
The transaction doesn't include inventory valued at $5,000*, which ins't included in the listing price.
The property is leased by the business for $1,500 per Month
Why is the Current Owner Selling The Business?
There are all kinds of reasons why people resolve to sell companies. Nonetheless, the real factor and the one they say to you may be 2 entirely different things. For instance, they might claim "I have a lot of other obligations" or "I am retiring". For many sellers, these factors are valid. However, for some, these might simply be justifications to try to hide the reality of altering demographics, increased competition, recent reduction in earnings, or an array of various other reasons. This is why it is very essential that you not depend completely on a vendor's word, yet instead, make use of the seller's answer in conjunction with your overall due diligence. This will paint a more realistic picture of the business's present scenario.
Existing Debts and Future Obligations
If the existing business is in debt, which numerous companies are, then you will certainly need to consider this when valuating/preparing your offer. Numerous companies finance loans in order to cover items such as inventory, payroll, accounts payable, so on and so forth. Bear in mind that occasionally this can mean that revenue margins are too tight. Lots of businesses fall into a revolving door of taking loans as a way to pay back other loans. In addition to debts, there may likewise be future obligations to consider. 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 fulfilled or may result in penalties if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Just how do companies in the location bring in brand-new customers? Most times, companies have repeat clients, which form the core of their day-to-day revenues. Certain elements such as new competitors sprouting up around the location, roadway building and construction, as well as personnel turn over can influence repeat customers and also adversely affect future profits. One essential thing to take into consideration is the location of the business. Is it in a highly trafficked shopping mall, or is it hidden from the highway? Certainly, the more individuals that see the business often, the higher the opportunity to build a returning consumer base. A last thought is the general area demographics. Is the business placed in a largely populated city, or is it situated on the edge of town? Exactly how might the neighborhood average family earnings effect future income prospects?