Listing ID: 73492
This seasonal destination has been serving families and friends their summer favorites since 2019. Located on the shores of Lake Erie, this turn key opportunity is a must stop for its captive audience.
- Asking Price: $299,000
- Cash Flow: N/A
- Gross Revenue: N/A
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 2019
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:3,100
- Lot Size:N/A
- Total Number of Employees:12
- Furniture, Fixtures and Equipment:N/A
The business was started in 2019, making the business 3 years old.
The company has 12 employees and is situated in a building with estimated square footage of 3,100 sq ft.
The real estate is leased by the company for $0.00
Why is the Current Owner Selling The Business?
There are all sorts of reasons people choose to sell companies. Nevertheless, the genuine factor vs the one they tell you might be 2 totally different things. For instance, they might claim "I have way too many other obligations" or "I am retiring". For lots of sellers, these reasons 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 a variety of various other reasons. This is why it is extremely vital that you not depend absolutely on a vendor's word, however instead, use the seller's solution together with your total due diligence. This will repaint an extra practical picture of the business's existing circumstance.
Existing Debts and Future Obligations
If the current entity is in debt, which many companies are, then you will have reason to consider this when valuating/preparing your deal. Numerous companies borrow money in order to cover points like inventory, payroll, accounts payable, so on and so forth. Remember that sometimes this can imply that revenue margins are too thin. Numerous organisations fall into a revolving door of taking on debt as a way to pay back other loans. Along with debts, there may likewise be future commitments to take into consideration. There may be an outstanding lease on equipment or the building where the business resides. The business may have existing contracts with suppliers that have to be fulfilled or may cause fines if terminated early.
Understanding the Customer Base, Competition and Area Demographics
How do companies in the area bring in brand-new customers? Most times, businesses have repeat consumers, which form the core of their daily profits. Particular aspects such as brand-new competition growing up around the location, roadway building and construction, and staff turnover can influence repeat consumers as well as negatively impact future incomes. One vital thing to consider is the placement of the business. Is it in a highly trafficked shopping mall, or is it hidden from the highway? Clearly, the more individuals that see the business often, the greater the opportunity to construct a returning client base. A last idea is the basic location demographics. Is the business placed in a largely inhabited city, or is it situated on the edge of town? How might the neighborhood average family earnings influence future income prospects?