Listing ID: 73593
Located near the beaches on a heavily traveled road, this beutiful and classy full service restaurant and bar has been a local favorite for years and is also a great place for social events, meetings, holidays and family gatherings. With its excellent reputation and fully trained staff, it boasts a solid menu with inventive flair and a very proud martini bar with an impressive full range of upscale drinks.
Amazing and local customers and amazing online reviews!!! This is run semi-absentee owner and could be much more profitable with a hands on owner. All staff are in place. Bring back the catering and parties and see an increase in sales. Full 4cop SFS license included.
This busienss has been here for over 25 years however the owner has not been involved in the past 3 years since and illness and the business has decreased. A motivated owner can bring this back to where it use to be. So much potential with this one. This is truly TURN-KEY and beautiful.
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IMPORTANT NOTICE: This is an operating business being offered for sale “CONFIDENTIALLY”. Interested parties MUST fill out a Confidentiality Agreement AND a financial statement before any specific information, such as name and location of the business will be shared. NO EXCEPTIONS!
Information contained herein has been obtained from the Owner of the Property or from sources deemed reliable. We have no reason to doubt its accuracy but make no warranty or representation. All information is submitted subject to errors, omissions, changes, withdrawal without notice and any special listing conditions of the Owner.
- Asking Price: $275,000
- Cash Flow: $172,800
- Gross Revenue: $1,157,041
- EBITDA: N/A
- FF&E: $125,000
- Inventory: N/A
- Inventory Included: N/A
- Established: N/A
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:4,325
- Lot Size:N/A
- Total Number of Employees:19
- Furniture, Fixtures and Equipment:N/A
Beautiful facility. Fully functional kitchen. Beautiful bar, with 2 dining rooms
2 weeks at no cost to buyer
The company has 19 employees and resides in a building with disclosed square footage of 4,325 sq ft.
The building is leased by the company for $8,202 per Month
Why is the Current Owner Selling The Business?
There are all sorts of reasons people choose to sell operating businesses. However, the genuine factor vs the one they tell you might be 2 entirely different things. As an example, they might state "I have way too many other commitments" or "I am retiring". For many sellers, these reasons stand. But also, for some, these may just be justifications to try to conceal the reality of changing demographics, increased competitors, current reduction in profits, or a variety of other factors. This is why it is extremely vital that you not rely entirely on a vendor's word, however rather, use the seller's solution along with your overall due diligence. This will repaint an extra sensible picture of the business's current scenario.
Existing Debts and Future Obligations
If the current company is in debt, which many companies are, then you will have reason to consider this when valuating/preparing your deal. Numerous operating businesses borrow money with the purpose of covering points such as supplies, payroll, accounts payable, and so on. Keep in mind that occasionally this can imply that revenue margins are too tight. Numerous companies fall under a revolving door of taking on debt as a way to pay back various other loans. Along with debts, there may likewise be future commitments to think about. There might be an outstanding lease on tools or the building where the business resides. The business might have existing contracts with suppliers that need to be met or might cause fines if terminated early.
Understanding the Customer Base, Competition and Area Demographics
How do operating businesses in the area attract new customers? Many times, operating businesses have repeat clients, which form the core of their day-to-day earnings. Certain elements such as brand-new competition sprouting up around the location, roadway building, and employee turn over can impact repeat consumers and negatively impact future revenues. 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? Obviously, the more people that see the business regularly, the higher the opportunity to build a returning consumer base. A final idea is the general area demographics. Is the business located in a densely populated city, or is it situated on the outskirts of town? Exactly how might the local average house earnings influence future earnings prospects?