Listing ID: 79130
Terrific opportunity to acquire a beautiful waterfront restaurant with hard-to-find real estate on the Southern New Hampshire Coast. This near 220 seat restaurant includes a large waterfront dining area. The restaurant has a great reputation and a strong following amongst locals and tourist alike. It’s in one of the “hottest” restaurant towns in New England. There is experienced staff in place making this a turnkey operation for an owner who wants to continue the success or take it to a new level.
Sales price includes business and real estate in downtown Portsmouth, NH.
- Asking Price: $1,325,000
- Cash Flow: $218,238
- Gross Revenue: $1,585,000
- EBITDA: $218,238
- FF&E: $624,000
- Inventory: N/A
- Inventory Included: N/A
- Established: N/A
- Property Owned or Leased:Own
- Property Included:Yes
- Building Square Footage:3,000
- Lot Size:N/A
- Total Number of Employees:N/A
- Furniture, Fixtures and Equipment:N/A
The business is located in the dynamic and very popular town of Portsmouth, NH. It has a beautiful interior space along with seating on the water. The total seat count of almost 220 customers. There is parking on site for patrons.
Seller is willing to assist in support and training.
There are a number of competitors in the market, but few with such a unique interior along with seating directly on the water. The landmark property and the restaurant’s atmosphere and food quality set it apart from the rest.
Increasing marketing efforts could provide growth to all areas of the business including private parties, events and weddings.
Why is the Current Owner Selling The Business?
There are all types of reasons why people resolve to sell businesses. However, the genuine factor and the one they say to you may be 2 completely different things. As an example, they may claim "I have too many various obligations" or "I am retiring". For many sellers, these reasons stand. But, for some, these may just be excuses to try to hide the reality of transforming demographics, increased competitors, recent reduction in incomes, or an array of various other reasons. This is why it is really vital that you not count completely on a vendor's word, yet instead, use the seller's answer along with your overall due diligence. This will paint an extra realistic picture of the business's existing scenario.
Existing Debts and Future Obligations
If the existing business is in debt, which many companies are, then you will certainly have reason to consider this when valuating/preparing your offer. Lots of companies borrow money with the purpose of covering points like supplies, payroll, accounts payable, and so on. Keep in mind that sometimes this can imply that profit margins are too small. Many companies fall into a revolving door of taking on debt as a way to pay back other loans. In addition to debts, there may also be future commitments to think about. There might be an outstanding lease on tools or the building where the business resides. The business might have existing agreements with suppliers that need to be met or might result in penalties if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do businesses in the location attract new customers? Most times, companies have repeat consumers, which create the core of their day-to-day revenues. Certain aspects such as brand-new competition sprouting up around the location, roadway building and construction, and also staff turnover can impact repeat consumers as well as negatively impact future profits. One essential thing to consider is the area of the business. Is it in an extremely trafficked shopping mall, or is it concealed from the highway? Certainly, the more people that see the business regularly, the better the possibility to construct a returning consumer base. A final thought is the basic 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 typical house earnings impact future income prospects?