Listing ID: 76704
The Fireside Cafe on Main St, Walsenburg. With over 2.9 million annual vehicle count, and a growing tourist and local community eager for new eateries, this historic restaurant is ready for success! Central stone faced two story fireplace anchors the main level dining room, and the private event space downstairs. Recent updates to the roof, some flooring and new LED for the iconic Fireside sign, the building is sound and primed for business. Bring your vision, your menu and a new chapter to this Walsenburg landmark!
- Asking Price: $169,500
- Cash Flow: N/A
- Gross Revenue: N/A
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: N/A
Central stone faced two story fireplace anchors the main level dining room, and the private event space downstairs. Recent updates to the roof, some flooring and new LED for the iconic Fireside sign!
Why is the Current Owner Selling The Business?
There are all kinds of reasons individuals resolve to sell operating businesses. However, the genuine reason vs the one they tell you may be 2 totally different things. As an example, they may state "I have way too many other commitments" or "I am retiring". For many sellers, these factors are valid. But, for some, these might just be excuses to attempt to hide the reality of changing demographics, increased competition, current decrease in revenues, or a range of other reasons. This is why it is extremely vital that you not rely entirely on a vendor's word, but rather, utilize the vendor's response combined with your total due diligence. This will repaint an extra practical picture of the business's existing situation.
Existing Debts and Future Obligations
If the current entity is in debt, which many businesses are, then you will need to consider this when valuating/preparing your deal. Lots of businesses finance loans so as to cover things such as inventory, payroll, accounts payable, so on and so forth. Remember that in some cases this can indicate that earnings margins are too small. Lots of companies come under a revolving door of taking on debt as a way to pay back other loans. Along with debts, there may additionally be future commitments to take into consideration. There may be an outstanding lease on tools or the structure where the business resides. The business might have existing contracts with vendors that must be met or might lead to penalties if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do companies in the area bring in new clients? Many times, businesses have repeat customers, which create the core of their everyday earnings. Specific elements such as brand-new competitors growing up around the area, road building and construction, as well as staff turnover can affect repeat customers and adversely impact future revenues. One vital thing to consider is the area of the business. Is it in a very trafficked shopping center, or is it concealed from the highway? Clearly, the more individuals that see the business on a regular basis, the greater the possibility to construct a returning customer base. A final idea is the general location demographics. Is the business located in a densely populated city, or is it situated on the outside border of town? How might the neighborhood typical home income impact future earnings potential?