Listing ID: 73486
This Restaurant-Pub is for sale located 1 hour driving from Columbus. The restaurant is a very popular spot both locally and destination. The sales are over $1.2 M with profits over $200,000 annually. The business is currently run by its owners with great hours. Closed Sunday & Monday and open until 10 pm. You can look at this several ways-
1. More sales if open more days and later
2. Great restaurant owner hours making a great living
The restaurant has an award winning Hamburger that folks travel for. Their other food is excellent as the owners choose to buy top of the line ingredients. They are very strong social media wise, as their FB has over 23,000 followers
The building is included in the sale. It is in great condition with roof & furnaces all being less than 7 yrs old. All the equipment is less than 6 years old also.
Included in sale: Business with recipes, building, land, FF&E, liquor permit, website, social media, and goodwill
- Asking Price: $950,000
- Cash Flow: $220,000
- Gross Revenue: $1,200,000
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 2000
- Property Owned or Leased:Own
- Property Included:Yes
- Building Square Footage:4,000
- Lot Size:N/A
- Total Number of Employees:19
- Furniture, Fixtures and Equipment:N/A
The restaurant is 4000 sq ft with large parking lot. The business has 2 hoods, 2 walk in coolers with 1 dedicated to beer, 17 beer taps leading into cooler, bar area with seating, dining area, great gill line with 2 hoods, smoker, pizza oven, and plenty of storage. This is a great kitchen for a HIGH VOLUME business
Owners will stay and train new owners as long as needed
Not much competition in any direction. This is located 1 hour driving from Columbus
Growth is possible with opening on days closed or expanding hours
The company was established in 2000, making the business 22 years old.
The business has 19 employees and resides in a building with disclosed square footage of 4,000 sq ft.
Why is the Current Owner Selling The Business?
There are all types of reasons why individuals decide to sell businesses. Nevertheless, the true factor vs the one they tell you may be 2 absolutely different things. For instance, they may claim "I have way too many various obligations" or "I am retiring". For lots of sellers, these factors are valid. However, for some, these might simply be justifications to attempt to conceal the reality of altering demographics, increased competition, current reduction in incomes, or a range of other reasons. This is why it is extremely important that you not count entirely on a vendor's word, however instead, make use of the vendor's response in conjunction with your total due diligence. This will paint a much more practical image of the business's present scenario.
Existing Debts and Future Obligations
If the existing company is in debt, which many businesses are, then you will certainly have reason to consider this when valuating/preparing your deal. Numerous operating businesses take out loans so as to cover items like stock, payroll, accounts payable, and so on. Keep in mind that occasionally this can indicate that profit margins are too small. Many organisations fall under a revolving door of taking on debt as a way to pay back other loans. In addition to debts, there may additionally be future obligations to think about. There might be an outstanding lease on equipment or the building where the business resides. The business might have existing agreements with suppliers that must be fulfilled or may cause charges if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Just how do businesses in the location bring in new consumers? Most times, companies have repeat consumers, which form the core of their daily revenues. Specific variables such as new competition growing up around the location, road building and construction, and personnel turn over can influence repeat customers and negatively affect future earnings. One crucial thing to consider is the placement of the business. Is it in a highly trafficked shopping mall, or is it hidden from the main road? Obviously, the more individuals that see the business often, the greater the possibility to build a returning client base. A last thought is the general area demographics. Is the business situated in a densely populated city, or is it located on the edge of town? Just how might the local median house income impact future revenue potential?