Listing ID: 76739
Business Overview
Description:
This Chinese Restaurant is a casual eatery with delicious Chinese fare located in the busy Strip Center. Open only for takeout after COVID pandemic restrictions. This well-established and popular spot offers extremely high upside potential for an owner-operator.
Equipment: Type-1 hood, 4 Burner range with convection oven, Grill, Wok stations, Fryer, Cash Register, Prep tables, Walk-In Cooler, Freezer, & much more. A full list of equipment is available with the Listing Broker
General Information:
Organization: Sole Proprietor | Square Footage: Licenses Required: City Bus Lic, Health Permit, Sellers Permit | Hours: 11:30 am-8:30 pm Tue – Sun | Reason for Sale: Other Business Interests | Seating Capacity: 40 with the possibility of Patio seating. | Please refer to local COVID-19 guidelines regarding in-door dining restrictions.
Lease Information:
Rent: $3900/month including NNN, water, and trash.
Lease Term: 5yr new lease with 5-year option.
Revenue:
Gross Sales: n/a – Asset Sale
Financing: All cash
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: $99,000
- 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
Seller training available.
Other business interests
Additional Info
The real estate is leased by the business for $3,900 per Month
Why is the Current Owner Selling The Business?
There are all kinds of reasons individuals decide to sell operating businesses. Nonetheless, the genuine reason and the one they say to you may be 2 absolutely different things. As an example, they might state "I have too many other responsibilities" or "I am retiring". For lots of sellers, these factors stand. But also, for some, these might just be reasons to try to conceal the reality of transforming demographics, increased competitors, current reduction in profits, or a range of other factors. This is why it is very important that you not count absolutely on a vendor's word, but instead, use the seller's response together with your overall due diligence. This will paint a much more sensible image of the business's present scenario.
Existing Debts and Future Obligations
If the current entity is in debt, which numerous companies are, then you will need to consider this when valuating/preparing your deal. Numerous operating businesses take out loans so as to cover things like supplies, payroll, accounts payable, and so on. Remember that occasionally this can suggest that profit margins are too thin. Numerous companies fall under a revolving door of taking on debt as a way to pay back various other loans. In addition to debts, there may additionally be future commitments to take into consideration. There might be an outstanding lease on equipment or the structure where the business resides. The business may have existing contracts with vendors that need to be satisfied or might lead to fines if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do businesses in the location draw in new customers? Often times, businesses have repeat clients, which develop the core of their daily profits. Particular factors such as brand-new competitors sprouting up around the area, roadway building and construction, and employee turn over can influence repeat consumers as well as adversely affect future profits. One essential point to think about is the area of the business. Is it in a highly trafficked shopping mall, or is it concealed from the main road? Certainly, the more people that see the business on a regular basis, the greater the opportunity to construct a returning client base. A last thought is the general area demographics. Is the business placed in a densely inhabited city, or is it located on the outside border of town? How might the neighborhood median house earnings impact future revenue potential?
