Listing ID: 76793
Business Overview
Description:
Latin-inspired spot located in busy Strip Center. Established in 1998 and under current ownership since 2007. Snug counter-serve eatery serving Mexican taco shop fare including burritos, enchiladas & fajitas using finest ingredients. This well-established and popular spot offers extremely high upside potential for an owner-operator. Type-47 Liquor Lic. is not part of the sale. Inventory approximately ~$3000 is in addition to the asking price.
Equipment:
Type-1 hood, 4 Burner range with oven, Grill, Fryer, Cash Register with POS, Sandwich Prep case, Ice Maker, Salsa Bar, Freezer and Refrigerators, & much more. A full list of equipment is available with the Listing Broker
General Information:
Organization: Corporation | Square Footage: 898 Sq. Ft. | Licenses Required: City Bus Lic, Health Permit, Sellers Permit | Hours: 10:30 am-7:30 pm | Reason for Sale: Retirement | Seating Capacity: 30. | Front parking |
Please refer to local COVID-19 guidelines regarding in-door dining restrictions.
Lease Information:
Rent: $3,970/month
Lease: Sellers’ lease expiring in 2023. Buyer to negotiate a new lease with the landlord.
Revenue:
Gross Sales: ~$39,000/Month (pre-covid sales were $90k/m. As per Seller, not verified by the Broker. Stated earnings inconsistent with financial records. Buyer to exercise revenue due diligence prior to making a business purchase offer).
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: $299,000
- Cash Flow: N/A
- Gross Revenue: $468,000
- EBITDA: N/A
- FF&E: N/A
- Inventory: $3,000
- Inventory Included: N/A
- Established: 1998
Detailed Information
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:898
- Lot Size:N/A
- Total Number of Employees:N/A
- Furniture, Fixtures and Equipment:N/A
Seller training available.
Retirement
Additional Info
The venture was founded in 1998, making the business 24 years old.
The transaction shall not include inventory valued at $3,000*, which ins't included in the asking price.
The building is leased by the business for $3,970 per Month
Why is the Current Owner Selling The Business?
There are all types of reasons why people decide to sell businesses. Nonetheless, the true factor and the one they tell you might be 2 entirely different things. For instance, they might claim "I have too many other responsibilities" or "I am retiring". For numerous sellers, these reasons stand. But also, for some, these may just be excuses to attempt to conceal the reality of transforming demographics, increased competitors, current reduction in incomes, or a variety of various other reasons. This is why it is extremely crucial that you not depend entirely on a vendor's word, yet rather, use the seller's answer together with your total due diligence. This will repaint a much more realistic image of the business's present situation.
Existing Debts and Future Obligations
If the existing company is in debt, which lots of businesses are, then you will need to consider this when valuating/preparing your deal. Many operating businesses take out loans so as to cover points like supplies, payroll, accounts payable, etc. Keep in mind that sometimes this can indicate that revenue margins are too tight. Many businesses fall under a revolving door of taking loans as a way to pay back various other loans. In addition to debts, there may also be future commitments to take into consideration. There may be an outstanding lease on equipment or the structure where the business resides. The business may have existing agreements with vendors that must be satisfied or may cause fines if terminated early.
Understanding the Customer Base, Competition and Area Demographics
How do businesses in the area draw in brand-new customers? Often times, operating businesses have repeat clients, which form the core of their day-to-day profits. Specific aspects such as new competition sprouting up around the location, road building, and also personnel turnover can influence repeat clients as well as negatively influence future incomes. One crucial point to take into consideration is the area of the business. Is it in a highly trafficked shopping mall, or is it hidden from the main road? Undoubtedly, the more individuals that see the business on a regular basis, the better the possibility to build a returning consumer base. A final idea is the basic area demographics. Is the business located in a densely populated city, or is it situated on the edge of town? Exactly how might the local average household earnings influence future revenue prospects?
