Listing ID: 73496
Winger’s, Inc. is a well established independent (no franchise fees) family friendly sports bar restaurant located on the main business highway in Sidney, Ohio off of I
-75 and across from Menards within a very extended shopping strip district. Winger
’s began business in 1991 at 1510 Michigan St., Sidney, Ohio and moved to its present A frame high ceiling Lodge like building with a covered patio located at 2881 Michigan St., Sidney in 2008. Winger’s is known for its great food , well maintained,
clean, and fun friendly environment. Winger’s is the destination place for many area business group gatherings. If you google “Wingers of Sidney, Ohio” you will see a very favorable 4.2 Google Review Rating along with many pictures of Winger’s food, rinks, and very appealable interior. The Winger’s Facebook page also provides further insight. Present owner is currently operating in an absentee manner.
- Asking Price: $225,000
- Cash Flow: $100,000
- Gross Revenue: $1,366,000
- EBITDA: $100,000
- FF&E: $75,000
- Inventory: $15,000
- Inventory Included: N/A
- Established: 1991
- Property Owned or Leased:Own
- Property Included:N/A
- Building Square Footage:3,360
- Lot Size:N/A
- Total Number of Employees:15
- Furniture, Fixtures and Equipment:N/A
Very well maintained cool high ceiling A frame wooden interior stand alone building with a covered patio in front. Plenty of Parking.
Staff in place and owner with consult/transition.
Owner seeks complete retirement.
Great location and reputation.
A "Present" owner & some newer technology should be able to improve revenues and profitability fairly easily.
The business was established in 1991, making the business 31 years old.
The transaction shall not include inventory valued at $15,000*, which ins't included in the listing price.
The company has 15 employees and is situated in a building with disclosed square footage of 3,360 sq ft.
Why is the Current Owner Selling The Business?
There are all sorts of reasons why people decide to sell operating businesses. Nonetheless, the genuine factor vs the one they say to you may be 2 totally different things. As an example, they may claim "I have way too many other obligations" or "I am retiring". For numerous sellers, these factors stand. However, for some, these may just be justifications to attempt to hide the reality of changing demographics, increased competitors, recent reduction in revenues, or a variety of various other factors. This is why it is really crucial that you not count entirely on a vendor's word, but instead, use the vendor's response in conjunction with your overall due diligence. This will repaint a more reasonable picture of the business's current scenario.
Existing Debts and Future Obligations
If the current company is in debt, which many businesses are, then you will certainly need to consider this when valuating/preparing your offer. Lots of businesses borrow money with the purpose of covering items such as stock, payroll, accounts payable, so on and so forth. Bear in mind that in some cases this can imply that revenue margins are too thin. Many companies come under a revolving door of taking loans as a way to pay back other loans. Along with debts, there may likewise be future commitments to consider. There might be an outstanding lease on equipment or the structure where the business resides. The business may have existing contracts with suppliers that must be satisfied or might result in fines if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Just how do businesses in the area attract brand-new consumers? Most times, companies have repeat consumers, which form the core of their day-to-day revenues. Particular elements such as brand-new competition growing up around the location, road building, as well as staff turnover can influence repeat clients and also negatively impact future revenues. One important thing to consider is the area of the business. Is it in a highly trafficked shopping center, or is it concealed from the main road? Obviously, the more individuals that see the business often, the greater the possibility to construct a returning customer base. A final thought is the basic area demographics. Is the business located in a densely inhabited city, or is it situated on the outskirts of town? How might the neighborhood average house income impact future income prospects?