Listing ID: 77036
Asian sushi buffet restaurant for sale in Stockton near Costco, Starbucks, Pizza Guys, restaurants and SF Supermarket with plenty of parking in the shopping center. Approximately 5000 sq ft with 100+ seating capacity. Lease amount is $8200 all inclusive. Rent covers water and CAM charges. Last month they averaged $60,000 in sales with take-outs only. Was doing over $2 million in sales in 2019 before the pandemic. Beer and wine license included. They have the sushi style buffet and 4 buffet tables and a large kitchen in back. Some of the equipment included are 24 feet type 1 hood, walk-in cooler, 3 wok, 2-burner stove + flat top grill, 2-door under the counter prep table, deep fryer, ice machine, chest freezer, 2-door freezer, 2 door refrigerator and lots of tables and chairs. Grease trap is outside the premise and maintain by tenant
- Asking Price: $275,000
- 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
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:5,000
- Lot Size:N/A
- Total Number of Employees:7
- Furniture, Fixtures and Equipment:N/A
The company has 7 employees and is located in a building with approx. square footage of 5,000 sq ft.
The property is leased by the business for $8,200 per Month
Why is the Current Owner Selling The Business?
There are all kinds of reasons why people resolve to sell companies. Nonetheless, the true reason vs the one they say to you might be 2 entirely different things. For instance, they may claim "I have a lot of various responsibilities" or "I am retiring". For numerous sellers, these factors are valid. But also, for some, these may just be reasons to try to conceal the reality of transforming demographics, increased competitors, recent reduction in revenues, or a variety of various other factors. This is why it is extremely important that you not rely totally on a seller's word, but rather, utilize the vendor's answer along with your total due diligence. This will paint an extra sensible image of the business's existing circumstance.
Existing Debts and Future Obligations
If the existing company is in debt, which lots of businesses are, then you will have reason to consider this when valuating/preparing your offer. Lots of operating businesses finance loans with the purpose of covering items like stock, payroll, accounts payable, etc. Keep in mind that in some cases this can suggest that earnings margins are too tight. Lots of organisations fall into a revolving door of taking loans as a way to pay back other loans. In addition to debts, there may additionally be future obligations to think about. There may be an outstanding lease on equipment or the building where the business resides. The business might have existing agreements with suppliers that have to be satisfied or might lead to charges if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do companies in the location draw in brand-new consumers? Many times, operating businesses have repeat consumers, which create the core of their daily earnings. Certain aspects such as new competitors sprouting up around the area, roadway building, and employee turnover can impact repeat consumers and adversely influence future revenues. One crucial point to think about is the area of the business. Is it in a very trafficked shopping mall, or is it concealed from the main road? Clearly, the more people that see the business often, the greater the possibility to develop a returning consumer base. A last thought is the general area demographics. Is the business located in a densely inhabited city, or is it located on the edge of town? How might the local median home earnings effect future earnings prospects?