Listing ID: 76084
Great bar and food business in Albany, NY run by same owner for 40 years. Very popular place, always busy even during the pandemic. Excellent reviews, regulars and visitors to the area love this place. Friendly and reliable staff and great owner/manager keep this place running very well all year round 7 days a week.
Business is well known for having a wide, current variety of craft beers, growlers along with excellent food with takeout and table service offered. This is a local bar and café steeped with tradition, well-maintained and operating at today’s modern standards with a full staff supporting the owner’s efforts.
The kitchen prepares a menu of traditional pub food including appetizers, wings, soups and salads, burgers, wraps, sandwiches, and pizza customers love. Kitchen stays busy all the time.
Located within walking distance of many attractions in Albany County. This business has its own parking lot making it very easy for patrons to visit and park. Business is very well run with a history of strong cash flow and profits.
Owner is looking to retire. Real estate is also available and priced separately. Consisting of row buildings and a parking lot. Buy the business by itself or include one or more of the properties. All with excellent cash flow and in very good condition, updated and in excellent repair. Properties include a total of 7 residential apartments plus the bar/restaurant. All fully rented.
- Asking Price: $485,000
- Cash Flow: $200,000
- Gross Revenue: $1,000,000
- EBITDA: N/A
- FF&E: $100,000
- Inventory: $20,000
- Inventory Included: N/A
- Established: 1983
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:N/A
- Furniture, Fixtures and Equipment:N/A
Seller will stay on board to support and train to ensure a smooth transition.
Owner is seeking retirement.
There is plenty of room for growth and expansion.
The business was founded in 1983, making the business 39 years old.
The sale won't include inventory valued at $20,000*, which ins't included in the listing price.
Why is the Current Owner Selling The Business?
There are all types of reasons people decide to sell operating businesses. Nonetheless, the real factor vs the one they tell you may be 2 completely different things. For instance, they might claim "I have too many other commitments" or "I am retiring". For many sellers, these factors stand. However, for some, these may just be reasons to try to conceal the reality of changing demographics, increased competitors, recent decrease in revenues, or a range of various other reasons. This is why it is really crucial that you not count entirely on a vendor's word, however instead, utilize the vendor's answer together with your general due diligence. This will paint an extra sensible image of the business's present scenario.
Existing Debts and Future Obligations
If the current company is in debt, which lots of companies are, then you will certainly need to consider this when valuating/preparing your offer. Many operating businesses finance loans with the purpose of covering items such as stock, payroll, accounts payable, and so on. Remember that sometimes this can mean that profit margins are too small. Numerous companies fall into a revolving door of taking loans as a way to pay back various other loans. In addition to debts, there may additionally be future obligations to think about. There might be an outstanding lease on equipment or the building where the business resides. The business may have existing agreements with vendors that have to be satisfied or may lead to charges if canceled early.
Understanding the Customer Base, Competition and Area Demographics
How do companies in the location attract brand-new clients? Most times, businesses have repeat clients, which form the core of their daily earnings. Specific aspects such as new competitors sprouting up around the area, roadway building, and personnel turnover can impact repeat consumers and adversely impact future profits. One crucial point to think about is the area of the business. Is it in a very trafficked shopping center, or is it hidden from the highway? Obviously, the more people that see the business on a regular basis, the better the possibility to develop a returning customer base. A last thought is the basic area demographics. Is the business situated in a densely inhabited city, or is it located on the outskirts of town? Exactly how might the local mean household income influence future earnings prospects?