Listing ID: 77483
An excellent opportunity to buy an established Pakistani and Indian food restaurant. This is a successful Indian & Pakistani halal restaurant surrounded by multi-residential buildings. Also, multi new residential development is coming just across the street from the restaurant.
Note: THIS BUSINESS DOES NOT QUALIFY FOR SBA LOAN DUE TO LACK OF BOOK-KEEPING RECORD. THIS IS ALL CASH DEAL AND SELLER WILL NOT CARRYBACK ANY AMOUNT.
Yearly Sale: 320,000
Rent: 4640 Gross
Lease: 2 years plus a 5-year option
Square Feet: 1500 approx
The financial information was supplied by the seller and has not been verified and will not be verified by the broker. The broker makes no representation about the accuracy or completeness of the information and does not guarantee future performance. It is the responsibility of a prospective buyer to make their own inspection of all financial and other business records and to seek independent financial and legal counsel regarding any purchase of this business and/or real estate.
- Asking Price: $150,000
- Cash Flow: N/A
- Gross Revenue: $350,000
- EBITDA: $99,000
- FF&E: N/A
- Inventory: $3,000
- Inventory Included: N/A
- Established: 2009
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:1,500
- Lot Size:N/A
- Total Number of Employees:3
- Furniture, Fixtures and Equipment:N/A
The venture was started in 2009, making the business 13 years old.
The sale won't include inventory valued at $3,000*, which ins't included in the asking price.
The company has 3 employees and is situated in a building with approx. square footage of 1,500 sq ft.
The real estate is leased by the company for $4,650 per Month
Why is the Current Owner Selling The Business?
There are all sorts of reasons why individuals decide to sell companies. However, the true factor vs the one they tell you may be 2 entirely different things. For instance, they might say "I have a lot of other obligations" or "I am retiring". For lots of sellers, these reasons stand. However, for some, these may just be excuses to attempt to hide the reality of transforming demographics, increased competition, recent reduction in incomes, or a range of various other reasons. This is why it is extremely important that you not depend totally on a seller's word, however instead, make use of the seller's response combined with your general due diligence. This will repaint an extra realistic image of the business's existing situation.
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. Numerous businesses borrow money so as to cover items such as stock, payroll, accounts payable, and so on. Bear in mind that in some cases this can indicate that earnings margins are too thin. Many organisations fall into a revolving door of taking on debt as a way to pay back various other loans. In addition to debts, there may likewise be future obligations to think about. There may be an outstanding lease on equipment or the building where the business resides. The business may have existing agreements with suppliers that need to be satisfied or might result in penalties if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do businesses in the location attract brand-new clients? Most times, businesses have repeat clients, which develop the core of their day-to-day earnings. Particular elements such as new competition sprouting up around the area, road construction, as well as staff turn over can influence repeat clients as well as negatively impact future incomes. One important point to take into consideration is the area of the business. Is it in an extremely trafficked shopping mall, or is it hidden from the main road? Obviously, the more individuals that see the business on a regular basis, the greater the chance to build a returning client base. A last thought is the general area demographics. Is the business placed in a largely inhabited city, or is it located on the edge of town? How might the local typical family earnings effect future income prospects?