Listing ID: 74846
Gastrognome restaurant in Idyllwild for sale. This popular dining spot is a favorite of locals and returning snowbirds who return time and time again. Unique charming atmosphere with outdoor patio dining or enjoy your meal inside their relaxing indoor dining area. Great central location. Option to purchase property is available. Business is thriving the same as before the pandemic. Liquor License is included in sale. Please call broker arrange a showing on this property.
- Asking Price: $550,000
- Cash Flow: N/A
- Gross Revenue: $1,260,000
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 1973
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:3,600
- Lot Size:N/A
- Total Number of Employees:28
- Furniture, Fixtures and Equipment:N/A
Will train for an agreed amount of time..
Other business interest.
The venture was started in 1973, making the business 49 years old.
The company has 28 employees and is situated in a building with approx. square footage of 3,600 sq ft.
The building is leased by the company for $5,333 per Month
Why is the Current Owner Selling The Business?
There are all sorts of reasons why individuals resolve to sell companies. Nevertheless, the genuine reason vs the one they tell you may be 2 totally different things. As an example, they might say "I have too many various responsibilities" or "I am retiring". For lots of sellers, these reasons stand. But also, for some, these may simply be reasons to attempt to hide the reality of transforming demographics, increased competitors, current decrease in profits, or an array of various other factors. This is why it is very crucial that you not rely entirely on a vendor's word, however instead, use the vendor's answer along with your general due diligence. This will paint a more practical image of the business's existing scenario.
Existing Debts and Future Obligations
If the current business is in debt, which lots of businesses are, then you will certainly need to consider this when valuating/preparing your offer. Many businesses finance loans so as to cover things such as stock, payroll, accounts payable, and so on. Keep in mind that occasionally this can suggest that revenue margins are too small. Lots of organisations fall into a revolving door of taking loans as a way to pay back various other loans. Along with debts, there may also be future commitments to consider. 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 lead to charges if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do operating businesses in the location bring in brand-new consumers? Often times, operating businesses have repeat clients, which create the core of their everyday profits. Certain variables such as new competitors sprouting up around the location, roadway construction, and personnel turn over can influence repeat customers and also adversely impact future earnings. One essential point to take into consideration is the area of the business. Is it in a very trafficked shopping center, or is it concealed from the main road? Certainly, the more people that see the business on a regular basis, the better the chance to build a returning client base. A final thought is the basic area demographics. Is the business situated in a densely inhabited city, or is it located on the edge of town? How might the neighborhood mean house income effect future revenue prospects?