Listing ID: 78700
Thriving North Conway Traditional Irish Restaurant and Bar loved by locals and tourists alike, being sold as a turn key operation. This business is an icon in the Mount Washington Valley and features beautiful dining areas, additional side rooms for private functions and a bar with an inviting atmosphere where local musicians perform. One of the few establishments with outdoor dining with a view! Many recent updates to the building including outdoor patios with customer seating and views to the Moats, White Horse Ledge and the Saco River. Large well equipped and organized commercial kitchen. Includes 2nd story 4 bed/2bath owners quarters with deck and views. This is a great opportunity for someone to live and work in the Mount Washington Valley. Plenty of room to grow the business too!
- Asking Price: $1,975,000
- 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:5,000
- Lot Size:N/A
- Total Number of Employees:N/A
- Furniture, Fixtures and Equipment:N/A
This Business Is Home Based
Why is the Current Owner Selling The Business?
There are all types of reasons individuals resolve to sell operating businesses. Nevertheless, the true reason vs the one they tell you may be 2 absolutely different things. As an example, they might state "I have a lot of other commitments" or "I am retiring". For many sellers, these reasons stand. However, for some, these may simply be excuses to try to conceal the reality of transforming demographics, increased competitors, current reduction in earnings, or an array of various other factors. This is why it is very vital that you not depend totally on a seller's word, but instead, make use of the vendor's answer together with your overall due diligence. This will repaint a more realistic picture of the business's present situation.
Existing Debts and Future Obligations
If the existing company is in debt, which many businesses are, then you will have reason to consider this when valuating/preparing your deal. Lots of companies take out loans so as to cover points such as inventory, payroll, accounts payable, so on and so forth. Bear in mind that in some cases this can imply that profit margins are too tight. Many organisations come under a revolving door of taking on debt as a way to pay back various other loans. Along with debts, there may additionally be future commitments to consider. There might be an outstanding lease on equipment or the structure where the business resides. The business might have existing contracts with vendors that must be fulfilled or may lead to fines if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do companies in the area draw in new consumers? Most times, companies have repeat consumers, which form the core of their everyday profits. Certain factors such as new competition growing up around the location, roadway construction, as well as staff turn over can affect repeat clients as well as adversely influence future revenues. One important thing to think about is the location of the business. Is it in a highly trafficked shopping center, or is it concealed from the highway? Clearly, the more individuals that see the business regularly, the higher the opportunity to build a returning customer base. A last idea is the general area demographics. Is the business situated in a largely populated city, or is it located on the outside border of town? Exactly how might the local median home earnings influence future earnings prospects?