Listing ID: 74840
TRUNKS Bar is a local neighborhood type bar that is extremely popular with visitors as well, making this a great place for meeting friends and enjoying one of their daily special drinks. This bar has many amenities, one of the largest dance floors in the valley, great sound system, spacious patio, dedicated game room with pool table, pinball and video games. There are different weekly events so there is always something going on from Drag Shows, Dance Parties, DJ’s, Bingo, Dance Lessons and more. Centrally located in Cathedral City close to the areas many attractions. Trunks is a free standing building on its own lot with ample dedicated parking. A 48 liquor license is included in sale. Name not included in sale.
This information, while not guaranteed, has been obtained from sources deemed reliable. Buyer must verify the information and bear all risks for any inaccuracies. DRE #01366091 00070721
- Asking Price: $250,000
- Cash Flow: N/A
- Gross Revenue: $336,000
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 1994
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:2,000
- Lot Size:N/A
- Total Number of Employees:4
- Furniture, Fixtures and Equipment:N/A
Will train for an agreed amount of time for a smooth transition.
Other business interest.
The company was started in 1994, making the business 28 years old.
The business has 4 employees and is situated in a building with approx. square footage of 2,000 sq ft.
The property is leased by the company for $4,561 per Month
Why is the Current Owner Selling The Business?
There are all sorts of reasons individuals choose to sell companies. Nonetheless, the genuine reason vs the one they tell you might be 2 entirely different things. As an example, they might say "I have way too many other commitments" or "I am retiring". For many sellers, these reasons are valid. But, for some, these may simply be excuses to attempt to conceal the reality of transforming demographics, increased competition, current reduction in incomes, or a range of various other factors. This is why it is very important that you not count completely on a vendor's word, however rather, make use of the vendor's answer in conjunction with your general due diligence. This will repaint a much more realistic picture of the business's present situation.
Existing Debts and Future Obligations
If the existing business is in debt, which lots of businesses are, then you will certainly need to consider this when valuating/preparing your deal. Lots of companies finance loans in order to cover points like inventory, payroll, accounts payable, so on and so forth. Remember that occasionally this can suggest that earnings margins are too tight. Numerous companies come under a revolving door of taking on debt as a way to pay back other loans. Along with debts, there may likewise be future commitments to take into consideration. There may be an outstanding lease on tools or the building where the business resides. The business may have existing contracts with vendors that have to be satisfied or might result in fines if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Just how do operating businesses in the area bring in new clients? Many times, businesses have repeat customers, which create the core of their daily earnings. Specific aspects such as brand-new competition sprouting up around the area, road construction, as well as employee turnover can influence repeat customers and negatively affect future profits. One crucial thing to think about is the area of the business. Is it in an extremely trafficked shopping center, or is it concealed from the highway? Certainly, the more people that see the business on a regular basis, the greater the possibility to develop a returning customer base. A last idea is the general area demographics. Is the business situated in a densely populated city, or is it located on the outskirts of town? Just how might the local mean house income influence future revenue prospects?