Listing ID: 74736
Beautifully built contemporary restaurant located in a densely populated North Scottsdale neighborhood is now available. Prominently situated in an active strip center with several successful businesses, this gorgeous facility features a magnificent bar, vibrant open dining room, fully equipped kitchen and a fantastic patio that the local clientele loves to enjoy on a regular basis. Demographics here are off the charts with more than enough disposable income to go around. Perfect for a chef wanting to establish a name for himself or a couple that can tag-team it. $195,000. #3136
- Asking Price: $195,000
- Cash Flow: N/A
- Gross Revenue: N/A
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 2020
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:6
- Furniture, Fixtures and Equipment:N/A
Facilities Sq. Ft.: 1,976 Lot Sq. Ft.: Common Area Parking: Common Area Seating: Indoor 58/ Patio 14 Total Monthly Rent: $5,051.15 Lease Expiration Date: 5 Years
Other Business Interests
The business was founded in 2020, making the business 2 years old.
Why is the Current Owner Selling The Business?
There are all kinds of reasons individuals choose to sell operating businesses. However, the real reason and the one they say to you may be 2 absolutely different things. For instance, they may state "I have way too many other obligations" or "I am retiring". For numerous sellers, these reasons are valid. But, for some, these may simply be justifications to attempt to hide the reality of changing demographics, increased competitors, current decrease in earnings, or a variety of other reasons. This is why it is very vital that you not count totally on a seller's word, yet rather, make use of the vendor's solution combined with your overall due diligence. This will paint a more realistic image of the business's existing situation.
Existing Debts and Future Obligations
If the current company is in debt, which many companies are, then you will need to consider this when valuating/preparing your deal. Numerous operating businesses borrow money so as to cover things such as supplies, payroll, accounts payable, so on and so forth. Bear in mind that sometimes this can suggest that earnings margins are too small. Numerous companies fall under a revolving door of taking loans as a way to pay back other loans. In addition to debts, there may likewise be future commitments to think about. There might be an outstanding lease on tools or the structure where the business resides. The business may have existing contracts with vendors that have to be satisfied or may cause penalties if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Just how do businesses in the location bring in new consumers? Often times, businesses have repeat customers, which form the core of their daily profits. Specific aspects such as new competitors sprouting up around the area, road construction, and employee turn over can influence repeat clients as well as negatively affect future earnings. One important point to think about is the placement of the business. Is it in an extremely trafficked shopping center, or is it hidden from the main road? Obviously, the more individuals that see the business often, the better the chance to build a returning client base. A last thought is the general area demographics. Is the business placed in a densely populated city, or is it situated on the edge of town? Exactly how might the neighborhood median house earnings effect future income potential?