Listing ID: 74844
Pete’s Hideaway is a family owned and operated business that is a locals favorite spot to enjoy great food, generous cocktails and Live Entertainment. Enjoy their impeccable service in a warm atmosphere that is reminiscent with old school sophistication. The menu offers something for everyone specializing in American, Continental, Steak, Burgers, Seafood and lots of Pasta. This is an established favorite restaurant with many retuning customers year after year. There is also a 2,000 Sq Ft space in the restaurant that is perfect for live entertainment. Great Central location that is surrounded by many of the areas resorts, country clubs and tourist attractions. There is private parking for their customers convenience. Please call broker for more details on this exciting opportunity and to arrange a showing.
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 0000112718-050119
- Asking Price: $500,000
- Cash Flow: N/A
- Gross Revenue: $500,000
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 2016
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:4,000
- Lot Size:N/A
- Total Number of Employees:4
- Furniture, Fixtures and Equipment:N/A
Large 4,000 Sq Ft restaurant space with patio.
Will train for an agreed amount of time for a smooth transition.
The venture was founded in 2016, making the business 6 years old.
The company has 4 employees and is situated in a building with disclosed square footage of 4,000 sq ft.
The real estate is leased by the company for $3,249 per Month
Why is the Current Owner Selling The Business?
There are all types of reasons why people resolve to sell businesses. However, the real factor and the one they say to you may be 2 entirely different things. For instance, they may claim "I have a lot of other responsibilities" or "I am retiring". For lots of sellers, these factors stand. But also, for some, these might simply be justifications to try to conceal the reality of changing demographics, increased competitors, current decrease in revenues, or a variety of other reasons. This is why it is really essential that you not rely absolutely on a seller's word, however instead, use the seller's response together with your general due diligence. This will paint a more practical picture of the business's present circumstance.
Existing Debts and Future Obligations
If the current business is in debt, which many companies are, then you will certainly need to consider this when valuating/preparing your deal. Numerous companies finance loans in order to cover points like supplies, payroll, accounts payable, etc. Bear in mind that sometimes this can indicate that earnings margins are too small. Lots of companies come under a revolving door of taking loans as a way to pay back various other loans. Along with debts, there may additionally be future obligations to think about. There may be an outstanding lease on tools or the building where the business resides. The business might have existing contracts with suppliers that should be fulfilled or may cause penalties if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Just how do businesses in the area attract brand-new consumers? Many times, businesses have repeat clients, which develop the core of their day-to-day revenues. Certain elements such as new competitors sprouting up around the area, road building and construction, as well as staff turnover can affect repeat customers as well as adversely impact future profits. One essential point to think about is the location of the business. Is it in a highly trafficked shopping center, or is it concealed from the main road? Clearly, the more individuals that see the business on a regular basis, the better the opportunity to build a returning client base. A final idea is the basic area demographics. Is the business placed in a densely populated city, or is it located on the edge of town? Exactly how might the regional mean household income influence future earnings potential?