Listing ID: 79001
ADDRESS: Woburn, MA
LOCATION: Located on a busy street in downtown Woburn.
CONCEPT: Charming Bistro
SEATING: The restaurant is licensed for 50 seats.
SPACE : The restaurant space is approximately 1,200 sf, plus the basement.
LICENSE: The restaurant has has been approved for a full liquor license. The only 50 seat restaurant in Woburn with a Full Liquor License.
HOURS: Open 6 days a week for dinner only.
SALES: Sales in 2019 were approximately $400,000. Sales in 2021 are close to what they were in 2019.
LEASE: Approximately one (1) year, plus an options for five (5) years.
RENT: Currently $2,957 month (includes R.E. Taxes).
PRICE: The asking price for the assets of the restaurant is $175,000.
COMMENTS: This could be a great opportunity of r a working owner/operator. There is potential to increase revenue by extending the hours of operation.
Information is from sources that we deem reliable. No representation is made as to the accuracy of any information provided. Offering is subject to prior sale, lease, or withdrawal without notice or change in prices and conditions.
- Asking Price: $175,000
- 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 types of reasons individuals decide to sell businesses. Nevertheless, the true factor and the one they say to you may be 2 absolutely different things. For instance, they may state "I have a lot of various obligations" or "I am retiring". For lots of sellers, these reasons stand. But also, for some, these may just be excuses to attempt to conceal the reality of changing demographics, increased competition, current reduction in incomes, or a range of other reasons. This is why it is very essential that you not count totally on a seller's word, but instead, utilize the vendor's response along with your general due diligence. This will paint an extra reasonable picture of the business's existing situation.
Existing Debts and Future Obligations
If the current company is in debt, which many businesses are, then you will have reason to consider this when valuating/preparing your deal. Many businesses borrow money in order to cover things like supplies, payroll, accounts payable, and so on. Remember that occasionally this can indicate that earnings margins are too small. Many businesses fall under a revolving door of taking loans as a way to pay back other loans. Along with debts, there may additionally be future commitments 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 vendors that have to be met or might cause fines if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Just how do companies in the location bring in brand-new clients? Most times, operating businesses have repeat consumers, which develop the core of their daily earnings. Particular factors such as brand-new competitors growing up around the location, road construction, and staff turnover can influence repeat consumers and also negatively impact future revenues. One crucial point to take into consideration is the placement of the business. Is it in a very trafficked shopping center, or is it concealed from the main road? Certainly, the more individuals that see the business often, the higher the chance to build a returning customer base. A final thought is the basic location demographics. Is the business placed in a largely inhabited city, or is it located on the outside border of town? Exactly how might the neighborhood average family earnings impact future revenue potential?