Listing ID: 77180
American-style diner serves breakfast and lunch and has an open dining room with outside dining in an enclosed patio full of natural light. Large kitchen with Type-1 hood and walk-in refrigerator is perfectly equipped to service guests as well as on and off-site catering. The free-standing building is well-positioned on a high-trafficked street with great visibility and ample parking. Restaurant is set-up to accommodate most any concept.
-Restaurant is 2,700 (approx.) with inside occupancy of 90 (approx.) with patio seating for 34
– Seller owns the real property and will offer a lease to a qualified buyer $3,500/month plus $800 (approx.) NNN/month
-Restaurant has a 12’-0” (approx.) Type-1 hood; 3’-0” US Range Flat top with oven, 2’-0” US Range Char broiler grill; 2-burner stove; 22” charbroiler; several reach-in refrigerators; 11’-0” X 7’-0” Walk-in refrigerator; 48″ Delfield Sandwich Station; 9’-0” X 7’-0” (approx.) Walk-in freezer; ice machine; 3-compartment sink; prep sink; mop sink; handsink and much more.
-Established in 2003, the restaurant is currently open 7 days a week 7:00am-3:00pm. New operator could increase sales by adding dinner service
-Owner works approximately 25 hours/week with 2 part-time, 11 full-time employees
-Inventory valued at $4,000 (approx.) is not included in the purchase price and may be available for buyer to purchase at wholesale cost.
-Premise is licensed with a Type-41 Beer & Wine License
Price Includes: Furniture, fixtures and equipment, covenant not to compete training period, restaurant name (DBA), menu, recipes, leasehold interest, leasehold improvements, and goodwill. Some personal items are excluded.
Disclaimer: The information provided here is compiled from information obtained by the Seller(s). The broker makes no representation as to its accuracy or reliability. Buyer(s) should rely upon their own verification and that of their financial and/or legal advisers regarding this information
- 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
- Property Owned or Leased:Own
- Property Included:N/A
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:N/A
- Furniture, Fixtures and Equipment:N/A
Why is the Current Owner Selling The Business?
There are all sorts of reasons people resolve to sell operating businesses. Nevertheless, the real reason vs the one they say to you might be 2 totally different things. As an example, they might say "I have way too many other commitments" or "I am retiring". For numerous sellers, these reasons stand. But also, for some, these might simply be excuses to try to conceal the reality of changing demographics, increased competitors, current decrease in profits, or a range of various other reasons. This is why it is very crucial that you not depend absolutely on a seller's word, but rather, utilize the seller's answer along with your general due diligence. This will paint a much more reasonable picture of the business's present circumstance.
Existing Debts and Future Obligations
If the existing business is in debt, which many companies are, then you will need to consider this when valuating/preparing your deal. Lots of operating businesses borrow money in order to cover items like stock, payroll, accounts payable, so on and so forth. Keep in mind that occasionally this can mean that profit margins are too thin. Lots of businesses fall into 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 think about. There might be an outstanding lease on tools or the structure where the business resides. The business may have existing agreements with suppliers that need to be met or may cause fines if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do operating businesses in the area draw in brand-new customers? Many times, operating businesses have repeat customers, which create the core of their everyday earnings. Certain aspects such as new competition sprouting up around the area, road building and construction, as well as employee turn over can affect repeat clients and negatively influence future earnings. One essential point to take into consideration is the location of the business. Is it in an extremely trafficked shopping mall, or is it hidden from the main road? Undoubtedly, the more individuals that see the business often, the higher the possibility to develop a returning client base. A final idea is the general area demographics. Is the business placed in a densely populated city, or is it situated on the outskirts of town? Just how might the local typical family income effect future revenue prospects?