Listing ID: 79032
Popular neighborhood Bar & Grill in a free-standing building with a loyal customer base and terrific signage and visibility. Ideal opportunity for a working owner/operator. Ample parking and a long lease.
LOCATION: Newburyport Area
SIZE: Approximately 3,500 sf. The restaurant features a bar & lounge are, dining room, kitchen, dish and prep stations rest rooms, storage and an office.
SEATING: The restaurant is licensed for 99 patrons.
PARKING: There is ample parking available.
LICENSES: There is a Full Liquor License and Massachusetts Lottery License
HOURS: Open 6 days a week for lunch and dinner
RENT: The current base rent is $4,300 mo., NNN / $51,600 yr., NNN
LEASE TERM: There are approximately (9) nine years, plus an option for five (5) years.
POTENTIAL: There is potential to increase sales by opening 7 days a week.
PRICE: The asking price is $325,000
Information is form sources deemed 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: $325,000
- 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 why people decide to sell operating businesses. Nevertheless, the genuine factor vs the one they say to you might be 2 absolutely different things. As an example, they may state "I have way too many various responsibilities" or "I am retiring". For numerous sellers, these reasons stand. But, for some, these may simply be reasons to attempt to conceal the reality of altering demographics, increased competitors, recent decrease in earnings, or a variety of other factors. This is why it is very essential that you not rely absolutely on a seller's word, but instead, use the vendor's response combined with your general due diligence. This will repaint a much more realistic 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 certainly need to consider this when valuating/preparing your deal. Lots of businesses borrow money so as to cover points such as supplies, payroll, accounts payable, so on and so forth. Bear in mind that sometimes this can imply that profit margins are too small. Lots of companies fall into a revolving door of taking on debt as a way to pay back various other loans. In addition to debts, there may additionally be future obligations to take into consideration. There might be an outstanding lease on equipment or the building where the business resides. The business might have existing agreements with vendors that should be satisfied or might lead to penalties if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do operating businesses in the location draw in brand-new customers? Many times, operating businesses have repeat clients, which create the core of their everyday revenues. Specific variables such as brand-new competition sprouting up around the location, roadway building and construction, and employee turn over can affect repeat consumers and negatively influence future incomes. One important thing to take into consideration is the placement of the business. Is it in an extremely trafficked shopping center, or is it hidden from the main road? Certainly, the more people that see the business often, the higher the chance to build a returning consumer base. A last idea is the basic location demographics. Is the business situated in a largely populated city, or is it located on the outside border of town? Exactly how might the neighborhood median house income influence future revenue prospects?