Listing ID: 76775
Iconic Cuchara restaurant! TURNKEY operation. Perfect opportunity for Chef Owner! 2 decks, dining room, tavern, 3 date night seating tables in the gallery, grand staircase, custom-built bar, private apartment (partially furnished) with 3 bedrooms (currently one in the office) and 2 bath, 4 fireplaces, full commercial kitchen, all the equipment, walk-in cooler, walk-in freezer, and walk-in beer cooler, high quality restaurant furniture, an impressive elk antler chandelier (nearly 6 ft tall and at least that around). A second private space that currently has a lease tenant that runs a private fitness center. The total square foot of the building is a little over 9000sq ft. You’ll be getting the website, pos, name, all the inventory.
- Asking Price: $799,000
- Cash Flow: N/A
- Gross Revenue: N/A
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 1981
- Property Owned or Leased:Own
- Property Included:N/A
- Building Square Footage:9,092
- Lot Size:N/A
- Total Number of Employees:N/A
- Furniture, Fixtures and Equipment:N/A
The company was started in 1981, making the business 41 years old.
Why is the Current Owner Selling The Business?
There are all kinds of reasons why people resolve to sell operating businesses. Nonetheless, the real factor vs the one they say to you might be 2 totally different things. For instance, they might say "I have too many various commitments" or "I am retiring". For lots of sellers, these reasons are valid. But also, for some, these may just be reasons to attempt to hide the reality of changing demographics, increased competitors, current reduction in earnings, or a range of other reasons. This is why it is extremely important that you not depend entirely on a vendor's word, however instead, utilize the vendor's response in conjunction with your general due diligence. This will paint a more practical picture of the business's present circumstance.
Existing Debts and Future Obligations
If the existing entity is in debt, which many companies are, then you will certainly need to consider this when valuating/preparing your offer. Many businesses borrow money in order to cover items such as supplies, payroll, accounts payable, etc. Bear in mind that sometimes this can imply that profit margins are too thin. Numerous organisations fall under a revolving door of taking loans as a way to pay back other loans. In addition to debts, there may also be future commitments to take into consideration. There might be an outstanding lease on tools or the building where the business resides. The business might have existing agreements with vendors that must be satisfied or might lead to charges if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do businesses in the area draw in brand-new customers? Many times, businesses have repeat clients, which develop the core of their everyday earnings. Particular elements such as brand-new competitors sprouting up around the location, roadway building, as well as staff turnover can influence repeat customers and also adversely affect future profits. One essential thing to consider is the location of the business. Is it in a highly trafficked shopping center, or is it concealed from the highway? Clearly, the more individuals that see the business on a regular basis, the better the opportunity to construct a returning consumer base. A final idea is the basic area demographics. Is the business placed in a largely inhabited city, or is it situated on the edge of town? Exactly how might the neighborhood median household income effect future revenue prospects?