Listing ID: 76656
Business Overview
Description:
Indian Grocery Store & Restaurant with full kitchen is known for its full range of Indian groceries, spices, produce and serving Indian Fast Food, Snacks (Chaat, Samosas etc), and sweets. The restaurant is self-serve with indoor and outdoor seating option. The location offers high vehicular traffic. Ample free parking in front of the store. This store features a mix of everything including groceries, snacks, beverages, novelty items, and ice cream. Tons of untapped future potential include adding a variety of regular and draft Beer choices (require Beer/Wine License) and adding online delivery options.
Equipment Included: Cash Register, Type-1 hood, 6 Burner Range with Oven, Tandoor Oven, Fryer, Freezer, 3 door walk-in cooler, 16 door reach-in Freezer, Produce Cooler, Security Camera System with DVR & Monitor, and much more. A full list of equipment is available with the Listing Broker.
General Information:
Organization: Corporation | Square Footage: ~4000 Sq. Ft. | Licenses Required: City Bus Lic, Health Permit, Sellers Permit | Seating Capacity: 50 | Days Open/Hours: Tue – Sun 10:00 am to 8:00 pm, Mon closed | Reason for Sale: Other business interests.
Lease Information:
Rent $4750/Month (including CAM) | Sellers’s lease expiring August 31, 2024 plus TWO 5-year options.
Revenue:
Gross Sales: ~$38,000/Month
(As Per Seller, Not Verified by the Broker)
Financing:
SBA Financing with 35% down payment (subject to buyer eligibility)
All information contained in this document resulted from representations by Seller. Mission Peak Brokers, Inc. and its agents can not and will not verify the accuracy or completeness of any information. Purchasers must verify any such information themselves and should engage legal and financial advisors to assist with the process.
Financial
- Asking Price: $279,000
- Cash Flow: N/A
- Gross Revenue: $456,000
- EBITDA: N/A
- FF&E: N/A
- Inventory: $50,000
- Inventory Included: N/A
- Established: N/A
Seller training available.
Other business interests
Additional Info
The sale shall not include inventory valued at $50,000*, which ins't included in the requested price.
The building is leased by the company for $4,750 per Month
Why is the Current Owner Selling The Business?
There are all kinds of reasons why people choose to sell companies. However, the real reason vs the one they tell you may be 2 completely different things. As an example, they may claim "I have too many various obligations" or "I am retiring". For numerous sellers, these reasons are valid. But also, for some, these might simply be justifications 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 extremely important that you not depend entirely on a vendor's word, however instead, make use of the seller's response combined with your overall due diligence. This will repaint an extra sensible image of the business's present situation.
Existing Debts and Future Obligations
If the current entity is in debt, which numerous companies are, then you will certainly have reason to consider this when valuating/preparing your offer. Many companies finance loans in order to cover items such as inventory, payroll, accounts payable, and so on. Keep in mind that occasionally this can imply that profit margins are too thin. Numerous companies fall under a revolving door of taking loans as a way to pay back various other loans. Along with debts, there may likewise be future commitments to take into consideration. There may be an outstanding lease on equipment or the structure where the business resides. The business might have existing agreements with suppliers that should be satisfied or might lead to charges if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Just how do businesses in the location bring in new clients? Many times, operating businesses have repeat consumers, which develop the core of their daily revenues. Particular aspects such as new competition growing up around the area, road building and construction, and also personnel turnover can affect repeat consumers and also adversely affect future revenues. One vital thing to take into consideration is the area of the business. Is it in a highly trafficked shopping mall, or is it concealed from the highway? Obviously, the more people that see the business regularly, the higher the chance to build a returning consumer base. A last idea is the basic location demographics. Is the business placed in a densely populated city, or is it located on the outside border of town? Just how might the neighborhood mean household earnings influence future income potential?
