Business Overview

LOCATION, LOCATION, LOCATION. This beautiful, fully renovated restaurant bar and grill has prime location right downtown.
EVERYTHING is within walking distance including the future performance arts center and plenty of parking.
The restaurant / bar has a 75 person capacity and is currently being operated as specific cuisine, but can be easily converted to any concept by simply changing the menu as this restaurant is fully equipped. This is being sold as an asset sale and has 5 years remaining on a very affordable lease. For a quick response to your inquiry, please contact listing agent Dan at (860) 329-6917 or email danc@fcbb.com

Financial

  • Asking Price: $195,000
  • Cash Flow: N/A
  • Gross Revenue: N/A
  • EBITDA: N/A
  • FF&E: $189,000
  • Inventory: $6,000
  • Inventory Included: Yes
  • Established: 2018

Detailed Information

  • Property Owned or Leased:N/A
  • Property Included:N/A
  • Building Square Footage:3,100
  • Lot Size:N/A
  • Total Number of Employees:N/A
  • Furniture, Fixtures and Equipment:N/A
About The Facility:

This is a leased location of 3,100 square feet with a total monthly rent of $3,500. Lease ends 2/2027 with negotiable options. Seller is active. Hours of operation are 3pm - 8pm Wednesday - Sunday. $6,000 in inventory and $189,000 in FF&E included in the asking price. Liquor license required.

Is Support & Training Included:

14 Days

Purpose For Selling:

Moving to Florida

Additional Info

The venture was established in 2018, making the business 4 years old.
The deal will include inventory valued at $6,000, which is included in the asking price.

The property is leased by the business for $3,500 per Month

Why is the Current Owner Selling The Business?

There are all sorts of reasons why people choose to sell businesses. However, the true factor and the one they tell you may be 2 absolutely different things. For instance, they may say "I have too many other responsibilities" or "I am retiring". For lots of sellers, these reasons stand. But also, for some, these might simply be reasons to try to hide the reality of changing demographics, increased competition, recent decrease in earnings, or an array of other reasons. This is why it is extremely crucial that you not depend completely on a vendor's word, however rather, make use of the seller's answer combined with your overall due diligence. This will repaint a more sensible image of the business's present situation.

Existing Debts and Future Obligations

If the existing business is in debt, which numerous companies are, then you will have reason to consider this when valuating/preparing your offer. Lots of companies borrow money with the purpose of covering items such as inventory, payroll, accounts payable, etc. Keep in mind that in some cases this can imply that revenue margins are too tight. Lots of businesses fall 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 take into consideration. There might 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 might cause penalties if canceled early.

Understanding the Customer Base, Competition and Area Demographics

Exactly how do businesses in the location draw in brand-new clients? Often times, businesses have repeat clients, which form the core of their everyday revenues. Certain factors such as brand-new competition sprouting up around the location, roadway building, and personnel turnover can affect repeat customers as well as adversely affect future incomes. One crucial point to consider is the area of the business. Is it in a highly trafficked shopping mall, or is it hidden from the highway? Certainly, the more people that see the business regularly, the greater the possibility to develop a returning customer base. A last thought is the basic area demographics. Is the business located in a largely populated city, or is it situated on the outside border of town? Just how might the regional typical house income impact future revenue prospects?