Listing ID: 77078
A hidden gem in Galt. Newly built over 8 months ago with ADA restroom and 2 tankless water heaters. This EAST coast inspired food restaurant for sale in Galt off the strip mall with ample parking. They specialize in hearty cheesesteaks using only high quality ingredients such as amoroso bread and steak-eze meat to produce that authentic Philly taste. Lease amount is $2577 all inclusive which covers water, garbage and CAM charges. Approximately 1140 sq ft with 25 seating capacity. Average gross income is between $36,000-$39,000 with an absentee owner. There is a manager to manage the restaurant. Please call for a private showing. Galt is 22 miles north of Stockton and 37 miles from Sacramento
- Asking Price: $185,000
- 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:1,140
- Lot Size:N/A
- Total Number of Employees:8
- Furniture, Fixtures and Equipment:N/A
The company has 8 employees and is situated in a building with estimated square footage of 1,140 sq ft.
The property is leased by the business for $2,577 per Month
Why is the Current Owner Selling The Business?
There are all sorts of reasons why people choose to sell companies. Nonetheless, the genuine factor and the one they tell you may be 2 totally different things. As an example, they might claim "I have too many other responsibilities" or "I am retiring". For lots of sellers, these reasons stand. But, for some, these might simply be excuses to try to hide the reality of altering demographics, increased competition, current decrease in revenues, or a variety of other reasons. This is why it is extremely crucial that you not depend absolutely on a vendor's word, but instead, make use of the seller's response together with your general due diligence. This will repaint a much more sensible picture of the business's present scenario.
Existing Debts and Future Obligations
If the existing company is in debt, which many companies are, then you will certainly need to consider this when valuating/preparing your deal. Lots of businesses take out loans with the purpose of covering things like inventory, payroll, accounts payable, and so on. Keep in mind that occasionally this can mean that profit margins are too thin. Lots of organisations fall into a revolving door of taking on debt as a way to pay back other loans. In addition to debts, there may additionally be future obligations to think about. There might be an outstanding lease on tools or the structure where the business resides. The business might have existing agreements with suppliers that should be fulfilled or might result in charges if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do companies in the location attract brand-new customers? Many times, companies have repeat customers, which form the core of their daily earnings. Particular elements such as brand-new competitors growing up around the area, road building, as well as employee turn over can impact repeat clients as well as negatively influence future revenues. One important thing to think about is the location of the business. Is it in an extremely trafficked shopping mall, or is it concealed from the highway? Undoubtedly, the more individuals that see the business regularly, the greater the chance to construct a returning consumer base. A last idea is the basic area demographics. Is the business situated in a densely inhabited city, or is it located on the outskirts of town? How might the local average family income impact future income potential?