Business Overview

• This is your opportunity to take the helm at Skipper’s Landing, a
wonderfully successful restaurant on the eastern shores of Sodus Bay
• It’s the only full-service restaurant on the east side of the Bay
• Large comfortable fully equipped oak bar that accommodates about
20 people
• Indoor dining area seats 70 people and all tables have an excellent
view of the spectacular sunsets on the Bay
• Spacious outdoor patio/bar accommodates an additional 70 people
• With 40 boat slips, there’s always room for boaters to pull up and
enjoy a delicious meal and relaxing beverage
• Huge fully equipped kitchen
• Strong and consistently very profitable business, even during COVID
times
• Lovely one-bedroom apartment on the second floor with its own
balcony overlooking the spectacular Sodus Bay
• Building is in great condition
* Financial details will be provided to qualified buyers after signing NDA

Financial

  • Asking Price: $1,300,000
  • Cash Flow: N/A
  • Gross Revenue: N/A
  • EBITDA: N/A
  • FF&E: N/A
  • Inventory: N/A
  • Inventory Included: N/A
  • Established: N/A

Why is the Current Owner Selling The Business?

There are all types of reasons people decide to sell companies. Nevertheless, the genuine reason and the one they tell you might be 2 entirely different things. As an example, they may state "I have too many other commitments" or "I am retiring". For numerous sellers, these factors stand. However, for some, these may simply be justifications to try to hide the reality of transforming demographics, increased competitors, current reduction in revenues, or an array of other factors. This is why it is really essential that you not depend completely on a seller's word, yet instead, use the vendor's solution along with your general due diligence. This will paint a much more reasonable picture of the business's present situation.

Existing Debts and Future Obligations

If the current business is in debt, which numerous companies are, then you will need to consider this when valuating/preparing your offer. Lots of businesses take out loans with the purpose of covering items like inventory, payroll, accounts payable, so on and so forth. Bear in mind that sometimes this can mean that earnings margins are too small. Lots of organisations fall into a revolving door of taking loans as a way to pay back various other loans. In addition to debts, there may also be future commitments to think about. There may be an outstanding lease on equipment or the structure where the business resides. The business might have existing contracts with vendors that must be fulfilled or might cause charges 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, operating businesses have repeat clients, which create the core of their daily profits. Certain factors such as brand-new competitors sprouting up around the location, road building and construction, and also personnel turnover can influence repeat customers and also negatively affect future earnings. One crucial thing to think about is the area of the business. Is it in a highly trafficked shopping center, or is it hidden from the highway? Clearly, the more individuals that see the business regularly, the better the possibility to construct a returning customer base. A last idea is the general area demographics. Is the business situated in a densely inhabited city, or is it located on the outskirts of town? How might the neighborhood mean family earnings effect future revenue potential?