Listing ID: 76062
Currently Doing $27,000-$28,000 a Week Through The Pandemic. Nestled in one of Brooklyn’s best neighborhoods, this beautiful coffee shop/diner has been owned and operate by the same family for over 20 years. Average $25,000 a week in steady sales, the store is turn-key and ready for the next family or owner to carry the legacy. With a recently acquired 10 year lease and with no rent increases for the first 5 years, this is a steal at only $4,800 a month. The shop seats 60 people and also has a great local delivery business as well. The Coffee Shop has recently been renovated and a new owner needs not spend a new dollar. The hours are from 7am-9pm, 7 days a week. This business is priced to sell quick. Dont’ wait before it’s too late.
- Asking Price: $400,000
- Cash Flow: $235,016
- Gross Revenue: $1,300,000
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: N/A
Seller willing to train new buyer
Other business interests
The real estate is leased by the business for $4,800 per Month
Why is the Current Owner Selling The Business?
There are all types of reasons individuals decide to sell companies. Nonetheless, the genuine factor and the one they say to you might be 2 completely different things. For instance, they might say "I have too many other obligations" or "I am retiring". For numerous sellers, these factors stand. But, for some, these might just be justifications to try to hide the reality of changing demographics, increased competition, recent reduction in profits, or an array of other reasons. This is why it is extremely vital that you not count completely on a vendor's word, however rather, use the seller's answer combined with your general due diligence. This will paint a more practical picture of the business's existing situation.
Existing Debts and Future Obligations
If the current company is in debt, which lots of businesses are, then you will certainly have reason to consider this when valuating/preparing your offer. Lots of businesses take out loans so as to cover points like inventory, payroll, accounts payable, and so on. Keep in mind that in some cases this can mean that earnings margins are too thin. Many businesses come under a revolving door of taking on debt as a way to pay back various other loans. Along with debts, there may also be future obligations to consider. There may be an outstanding lease on equipment or the building where the business resides. The business may have existing contracts with suppliers that should be satisfied or might cause charges if canceled early.
Understanding the Customer Base, Competition and Area Demographics
How do operating businesses in the area bring in new consumers? Most times, companies have repeat consumers, which create the core of their daily profits. Specific variables such as brand-new competitors growing up around the location, road construction, and employee turn over can influence repeat customers and adversely impact future revenues. One crucial point to think about is the area of the business. Is it in a very trafficked shopping mall, or is it concealed from the main road? Undoubtedly, the more people that see the business often, the higher the opportunity to build a returning client base. A last idea is the basic area demographics. Is the business placed in a largely inhabited city, or is it located on the outside border of town? Just how might the neighborhood average home earnings effect future revenue potential?