Listing ID: 79113
Topic of the Town, a landmark Littleton, NH fixture, has been in existence for over 40 years, originally founded in 1981 by Denny and Dot Fekay. In 2006 their daughter, Ashlea Miller purchased the business and continued her parents’ commitment to satisfying their customers with great food, excellent service, and by using only the finest and freshest quality ingredients. Their menu offers a wide variety of specialty sandwiches, hot and cold dishes, soups made from scratch, salads, scrumptious desserts, and much more to satisfy whatever their customers may be in the mood for. They are one of three restaurants in town who serve a full breakfast which is the meal period which drives both business levels and profitability. All menu items are offered for carry out, and Topic of the Town also offers full-service catering. The owners and staff are proud to be able to offer affordable prices and friendly staff to make each customers experience a memorable one.
The restaurant is located directly on Main Street, in beautiful Littleton, NH. Founded in 1770 on the banks of the Ammonoosuc River, Littleton is a National Main Street Community known as the “Crossroads of the North Country” as it has long served as the center for commerce in New Hampshire’s White Mountains region. Littleton’s downtown area is flourishing as its storefront vacancy rate has gone from 20% in 2009 to a rate of 2% in 2021. Named on the list of Top Ten Small Towns in America, Littleton was also the recipient of the first NH Profile Community Award for preserving, protecting, and promoting NH’s spirit of independence.
Offered for sale is the business entity, including all tangible and intangible assets. The owners of the business have leased the space since the business was started and the landlord will do what has to be done to negotiate a fair and affordable lease for a new owner. There is ample on-street metered parking as well as the availability of 6 free downtown parking lots. This breakfast/lunch/dinner restaurant is a very popular destination for locals and visitors alike as it prides itself on its reputation, value, and quality comfort food in a warm and comfortable setting. Loyalty of repeat visitors to the area, local families, and businesses helps yield strong year-round numbers.
DO NOT CONTACT THE RESTAURANT DIRECTLY!
- Asking Price: $125,000
- Cash Flow: N/A
- Gross Revenue: $395,432
- EBITDA: N/A
- FF&E: $24,050
- Inventory: $6,000
- Inventory Included: Yes
- Established: 1981
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:10
- Furniture, Fixtures and Equipment:N/A
The total area of the building is roughly 3708 square feet on the first floor and 3708 square feet of basement storage space. The restaurant seats up to a maximum of 119 people. Rent is currently $2550 per month. The landlord is willing to offer similar lease arrangement for a new owner. The building is an older brick building but is in good condition and offers plenty of storage, kitchen, and dining room space. The restaurant is well maintained and functional.
The current owner is willing to stay on and train for two weeks after the transfer of the business at no charge and may be available on a part-time consulting basis should that be important to the buyer.
Seller has been running restaurants for over 40 years and is ready to move on.
Topic of the Town has a prime downtown Main Street location in Littleton, NH. This landmark restaurant’s location is also close to Littleton’s new River District with its waterfront restaurants and shops. Easily accessible from Interstate 93, Littleton is just north of the Kancamagus Highway and Franconia Notch, home to two of the state’s most popular ski resorts, Loon Mountain and Cannon Mountain. Miles of hiking and biking trails exist within minutes of Littleton, as do the myriad rivers and lakes that the White Mountains region is known for. Aside from the tourism driven base of business in Littleton, its 5000 year-round residents and multiple commercial entities keep business levels thriving throughout the year. The restaurant caters to locals from all over the White Mountains area; from Vermont to the north and west, Lincoln-Woodstock to the south, and from the Mount Washington Valley to the west. There is a strong repeat clientele of area visitors and second homeowners, many of whom travel, stay, and play all year long throughout this incredibly scenic area.
The owners strongly believe that business volumes will be greatly impacted by more direct advertising and a more visible social media presence, if handled professionally. They also believe that by increasing the days that they are open and by strengthening the organization and management details, their revenues and profitability will be greatly enhanced. The business does not currently have a Point of Sales system which would instantly improve efficiencies throughout the business. Demand for catering continues to grow, but the current owner picks and chooses which events to cater depending upon her availability and energy levels. There is a lot of money to be made in offsite catering for an individual with more energy than the current owner has left.
The venture was founded in 1981, making the business 41 years old.
The deal shall include inventory valued at $6,000, which is included in the asking price.
The business has 10 employees and is located in a building with disclosed square footage of N/A sq ft.
The real estate is leased by the business for $2,075 per Month
Why is the Current Owner Selling The Business?
There are all kinds of reasons people resolve to sell operating businesses. Nonetheless, the real reason vs the one they tell you might be 2 totally different things. As an example, they might state "I have too many various responsibilities" or "I am retiring". For numerous sellers, these factors stand. But also, for some, these may just be excuses to try to hide the reality of transforming demographics, increased competition, recent reduction in incomes, or a variety of other factors. This is why it is extremely important that you not depend entirely on a seller's word, however instead, make use of the seller's answer along with your total due diligence. This will paint a more realistic picture of the business's existing scenario.
Existing Debts and Future Obligations
If the current business is in debt, which many businesses are, then you will certainly have reason to consider this when valuating/preparing your offer. Numerous companies take out loans in order to cover things such as inventory, payroll, accounts payable, etc. Keep in mind that in some cases this can imply that profit margins are too thin. Numerous organisations fall under a revolving door of taking loans as a way to pay back various other loans. Along with debts, there may additionally be future obligations 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 suppliers that have to be fulfilled or might cause charges if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do businesses in the area attract new customers? Often times, companies have repeat customers, which form the core of their day-to-day profits. Particular aspects such as new competitors growing up around the location, roadway building and construction, as well as staff turnover can affect repeat consumers and adversely impact future earnings. One vital point to think about is the area of the business. Is it in a highly trafficked shopping mall, or is it hidden from the main road? Clearly, the more people that see the business often, the better the chance to build a returning client base. A last idea is the general location demographics. Is the business located in a largely inhabited city, or is it situated on the edge of town? Just how might the regional median house income impact future revenue potential?