Listing ID: 78780
Live, work and play at this award-winning, turn-key restaurant and gift shop. The WaterWheel Breakfast and Gift House is a destination for tourists and locals alike. The Waterwheel has been lived in, owned and operated by the same family since 1999. It is obvious to an observer that this property and business has been well cared for and has all the necessary food service equipment, dining and gift shop furnishings and merchandise. Your family will reside in the attached 4 bedroom home and use the large 2 story garage for all your vehicles, toys and play on the over 30 acres of land. Snowmobilers have access to you and you have access to the north country trails. There is a cell tower on the property that is negotiable along with the land it is on. Many upgrade have been done including a well, septic system, heating system, hot water and oil tanks, plumbing and electrical. The exterior of the building is in great shape, due to new siding, windows, wheel chair ramp, raised flower beds, antique entrance door restoration and fresh paint. This is the current owner’s pride and joy. They are simply just ready to retire.
- Asking Price: $1,950,000
- 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 kinds of reasons individuals resolve to sell operating businesses. Nonetheless, the genuine reason and the one they tell you might be 2 completely different things. As an example, they might claim "I have way too many various responsibilities" or "I am retiring". For many sellers, these reasons stand. However, for some, these might simply be reasons to try to conceal the reality of transforming demographics, increased competition, current decrease in incomes, or a variety of other factors. This is why it is extremely essential that you not depend totally on a vendor's word, yet rather, make use of the vendor's response combined with your general due diligence. This will repaint a more reasonable picture of the business's existing scenario.
Existing Debts and Future Obligations
If the current business is in debt, which lots of companies are, then you will certainly have reason to consider this when valuating/preparing your offer. Numerous operating businesses take out loans in order to cover items like supplies, payroll, accounts payable, and so on. Remember that in some cases this can indicate that earnings margins are too thin. Lots of businesses fall into 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 take into consideration. There may be an outstanding lease on equipment or the structure where the business resides. The business might have existing contracts with vendors that should be satisfied or might lead to fines if canceled early.
Understanding the Customer Base, Competition and Area Demographics
How do businesses in the area attract new clients? Most times, businesses have repeat clients, which create the core of their everyday earnings. Particular variables such as new competitors sprouting up around the location, road building and construction, and also staff turnover can impact repeat customers and adversely impact future incomes. One vital thing to take into consideration is the area of the business. Is it in a highly trafficked shopping center, or is it concealed from the main road? Certainly, the more individuals that see the business on a regular basis, the greater the chance to build a returning client base. A last idea is the basic area demographics. Is the business located in a largely populated city, or is it situated on the outskirts of town? Exactly how might the local average home earnings influence future income potential?