Business Overview

This restaurant in a college town that is within 1 hour of Columbus. This location has been a restaurant for over 47 years with the present owner of 12 years. It is a very popular restaurant, located in the middle of this campus. The students walk by this location on the way to and back from classes. This is a very popular comfort food style restaurant, with a twist, that serves lunch & dinner and has a small quaint bar for libations. Sales have surpassed $1,000,000 and the profits have reached over $200,000 annually. The sales trend has been increasing and continue to do so, as summers have improved.

One of the greatest assets of this location is owned by the University. They offer a very reasonable, if not low, rent. And they pay for building repairs, both inside and out. They take care of roof leaks and furnace problems.

The college town is very picturesque and has a long history. The college sits in a town that is only made for college. This restaurant is a very popular spot, as students walk by on the way to and from classes. So this restaurant is frequented by locals, college professors and staff, and students.

The owner is ready to retire after working hard to build the success of the restaurant.

The sale includes name, recipes, lease, FF & E, and liquor permit.

This sale is HIGHLY CONFIDENTIAL-all interested parties will be required to sign the confidentiality agreement attached.

Financial

  • Asking Price: $349,000
  • Cash Flow: $250,000
  • Gross Revenue: $1,000,000
  • EBITDA: N/A
  • FF&E: N/A
  • Inventory: N/A
  • Inventory Included: N/A
  • Established: 2007

Detailed Information

  • Property Owned or Leased:N/A
  • Property Included:N/A
  • Building Square Footage:2,724
  • Lot Size:N/A
  • Total Number of Employees:N/A
  • Furniture, Fixtures and Equipment:N/A
About The Facility:

This restaurant is 2724 sq ft and the building has a patio, bar area with seperate seating, dining room kitchen with hood, and basement with walk in cooler. Seats 100 inside and 25 on the patio

Purpose For Selling:

Owner is retiring

Pros and Cons:

The location is key, as students walk by on their way to and from class.

Opportunities and Growth:

Closed on Sundays, the opportunity to open would lead to major sales increase-especially adding a brunch.

Additional Info

The business was started in 2007, making the business 15 years old.

The real estate is leased by the company for $2,800 per Month

Why is the Current Owner Selling The Business?

There are all sorts of reasons why individuals decide to sell companies. However, the genuine reason and the one they say to you might be 2 entirely different things. As an example, they may say "I have too many other responsibilities" or "I am retiring". For lots of sellers, these factors are valid. However, for some, these might just be reasons to try to conceal the reality of altering demographics, increased competitors, current reduction in profits, or a variety of other factors. This is why it is extremely crucial that you not depend completely on a vendor's word, yet rather, make use of the seller's answer combined with your total due diligence. This will paint a much more practical picture of the business's current circumstance.

Existing Debts and Future Obligations

If the existing company is in debt, which numerous businesses are, then you will certainly have reason to consider this when valuating/preparing your offer. Lots of businesses finance loans so as to cover things like stock, payroll, accounts payable, and so on. Bear in mind that sometimes this can mean that revenue margins are too thin. Numerous companies fall 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 think about. There may be an outstanding lease on equipment or the building where the business resides. The business might have existing contracts with vendors that must be met or may lead to penalties if terminated early.

Understanding the Customer Base, Competition and Area Demographics

Exactly how do companies in the area bring in new customers? Often times, operating businesses have repeat customers, which form the core of their everyday profits. Specific factors such as new competitors sprouting up around the location, road construction, and employee turn over can impact repeat customers and adversely influence future incomes. One crucial thing to think about is the placement 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 customer base. A last idea is the general area demographics. Is the business situated in a largely inhabited city, or is it situated on the outside border of town? How might the local mean house income influence future earnings prospects?