Listing ID: 78965
Loyal Nine is a full service Bar and Grill in Cambridge, MA. This is a hIgh profile location with strong street exposure. The restaurant opened in 2015 after an extensive build-out. The interior features a dining room with a full bar and an exposed kitchen, a side cafe for either private functions or breakfast & lunch and an all-year round outdoor patio. that can accommodate 65 guests
SIZE: Approximately 4,010 sq. ft on 1st floor, 2,000 sq. ft patio and a basement.
SEATS: Licensed for 120 guests
HOURS: 8:00 AM until 9:00 PM. Closed Monday.
HISTORY: Opened in 2015 after an extensive renovation
LICENSE: Full Liquor License
SALES: 2019: $1,900,00 2021: Target to exceed $2 Million
- Asking Price: $450,000
- 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
Why is the Current Owner Selling The Business?
There are all sorts of reasons people resolve to sell operating businesses. Nevertheless, the genuine factor and the one they tell you may be 2 totally different things. As an example, they might claim "I have too many other commitments" or "I am retiring". For numerous sellers, these reasons stand. But also, for some, these may simply be reasons to try to conceal the reality of changing demographics, increased competition, current reduction in incomes, or a range of other factors. This is why it is extremely important that you not rely completely on a vendor's word, yet instead, make use of the seller's response along with your overall due diligence. This will paint a more reasonable image of the business's existing situation.
Existing Debts and Future Obligations
If the current business is in debt, which lots of companies are, then you will certainly need to consider this when valuating/preparing your deal. Numerous companies finance loans so as to cover items such as inventory, payroll, accounts payable, and so on. Keep in mind that in some cases this can mean that earnings margins are too small. Lots of businesses come under a revolving door of taking on debt as a way to pay back various other loans. Along with debts, there may likewise be future commitments to think about. There may be an outstanding lease on tools or the building where the business resides. The business may have existing contracts with vendors that need to be satisfied or may cause charges if terminated early.
Understanding the Customer Base, Competition and Area Demographics
How do companies in the area attract new customers? Many times, businesses have repeat clients, which develop the core of their daily earnings. Specific factors such as new competitors growing up around the area, roadway construction, and also staff turn over can affect repeat consumers and adversely affect future earnings. One important thing to take into consideration is the area of the business. Is it in a very trafficked shopping center, or is it concealed from the main road? Obviously, the more people that see the business regularly, the greater the chance to develop a returning client base. A final idea is the general area demographics. Is the business placed in a largely populated city, or is it situated on the outside border of town? How might the regional typical home earnings influence future earnings potential?