Listing ID: 77576
Improved Price: $800,000! Profitable CT Business For Sale – Hookah Lounge & Mediterranean Restaurant located in prime location. Approx 11,000 SF of combined space (approx 9,000 SF inside / 2,000 SF outside).
Popular Hookah Lounge, conveniently located near bars/nightlife. Services 400 – 500 guests on the weekends.
Restaurant offers catering and plenty of space for private parties. Business nets over a $1MM a year. Don’t miss the opportunity to step into this turn-key business. Plenty of room for a bar (currently BYOB)! Apply for a liquor license and it can be even more profitable.
*Proof of funds/financing required to obtain more information. Serious buyers only please.
- Asking Price: $800,000
- 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
All equipment, furniture and inventory included.
Owner is willing to train new owner.
Largest Hookah Lounge in the state. No other location compares.
Potential for more income if a bar is installed and liquor license obtained.
The real estate 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 choose to sell companies. However, the genuine factor vs the one they say to you may be 2 entirely different things. As an example, they may claim "I have a lot of various obligations" or "I am retiring". For numerous sellers, these factors stand. But also, for some, these might just be justifications to attempt to conceal the reality of altering demographics, increased competitors, recent decrease in revenues, or an array of other factors. This is why it is really important that you not depend absolutely on a vendor's word, yet rather, make use of the seller's answer along with your overall due diligence. This will paint an extra sensible image of the business's current situation.
Existing Debts and Future Obligations
If the existing company is in debt, which many companies are, then you will need to consider this when valuating/preparing your offer. Numerous companies finance loans with the purpose of covering items like inventory, payroll, accounts payable, so on and so forth. Bear in mind that in some cases this can suggest that profit margins are too tight. Lots of companies fall under a revolving door of taking on debt 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 should be met or may result in charges if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do operating businesses in the location draw in new clients? Often times, companies have repeat clients, which form the core of their daily earnings. Specific variables such as new competitors sprouting up around the location, road construction, and personnel turn over can influence repeat customers as well as adversely influence future profits. One crucial thing to take into consideration is the placement of the business. Is it in a very trafficked shopping mall, or is it hidden from the highway? Certainly, the more people that see the business on a regular basis, the higher the possibility to construct a returning consumer base. A last thought is the basic location demographics. Is the business situated in a largely populated city, or is it situated on the edge of town? Exactly how might the local typical house income influence future income potential?