Listing ID: 74178
Kannery Grill overlooks beautiful Kachemak Bay and the surrounding Mountains in Homer, Alaska. Unique opportunity to own a newly established restaurant with outstanding lease terms. Ownership of the restaurant includes the business name, the lease agreement, and the management agreement in place to sell alcohol. Best Western and Ocean Shores Motel & RV Park are adjacent to the restaurant.
- Asking Price: $278,000
- Cash Flow: N/A
- Gross Revenue: N/A
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 2017
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:3,000
- Lot Size:N/A
- Total Number of Employees:7
- Furniture, Fixtures and Equipment:N/A
3,000 sf lease space with an extra 1,000 sf of deck dining area. The value is in the lease terms, call for details.
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The venture was started in 2017, making the business 5 years old.
The company has 7-10 employees and is located in a building with approx. square footage of 3,000 sq ft.
The property is leased by the business for $0.00
Why is the Current Owner Selling The Business?
There are all sorts of reasons why people resolve to sell businesses. However, the true reason vs the one they say to you may be 2 completely different things. As an example, they may claim "I have too many other commitments" or "I am retiring". For numerous sellers, these reasons are valid. But also, for some, these may just be excuses to attempt to conceal the reality of changing demographics, increased competitors, recent reduction in incomes, or a range of various other reasons. This is why it is very important that you not count totally on a vendor's word, yet rather, utilize the seller's solution combined with your total due diligence. This will repaint a more reasonable picture of the business's current situation.
Existing Debts and Future Obligations
If the current company is in debt, which lots of companies are, then you will have reason to consider this when valuating/preparing your offer. Lots of businesses finance loans so as to cover points such as stock, payroll, accounts payable, and so on. Remember that sometimes this can imply that earnings margins are too thin. Lots of companies come under a revolving door of taking on debt as a way to pay back other loans. Along with debts, there may additionally be future commitments to consider. There may be an outstanding lease on tools or the structure where the business resides. The business may have existing agreements with vendors that need to be met or might lead to fines if canceled early.
Understanding the Customer Base, Competition and Area Demographics
How do operating businesses in the area attract brand-new clients? Many times, companies have repeat consumers, which develop the core of their daily revenues. Particular elements such as new competitors growing up around the location, roadway building, and staff turnover can influence repeat consumers as well as negatively affect future revenues. One crucial point to think about is the location of the business. Is it in an extremely trafficked shopping mall, or is it hidden from the main road? Undoubtedly, the more individuals that see the business often, the higher the chance to develop a returning consumer base. A final thought is the basic area demographics. Is the business placed in a densely inhabited city, or is it located on the outside border of town? Exactly how might the regional typical home earnings impact future earnings prospects?