Listing ID: 79283
Very charming Bakery & Coffee House for sale in Broward County. Former Starbucks location (as of Oct 2020). Fully equipped & remodeled. A true turnkey business. Sits 15 people inside and another 10 outside on a pleasant outdoor patio.
Breakfast, lunch and light dinner offered featuring exquisite Scandinavian Pastries, traditional Danish sweet treats, freshly baked croissants plus assorted coffees and other beverages. Menu expanded in May 2021 to include puff pastires, empanadas, cookies & sandwiches. Hours of operation extended in May 2021 to 7:00 PM 7 days a week (used to be open until 3:00 PM).
May 2021 sales up 53% from April with June sales double that of April as a result of expanded menu, increased marketing & operating hours and adding beverages to delivery services. December 2021 sales were the best month ever! Owner very bullish on 2022 sales with the return of tourists & Canadians. Owner is also in the process of applying for a beer & wine license.
Customer reviews are exceptional!!! (4.6 out of 5.0). Delivery by UberEats, DoorDash, and GrubHub.
Motivated seller who is currently a semi-absentee owner. A qualified Manager is in place. Should qualify for an E2 visa.
- Asking Price: $239,000
- Cash Flow: $107,400
- Gross Revenue: $444,000
- EBITDA: N/A
- FF&E: $35,000
- Inventory: $7,000
- Inventory Included: Yes
- Established: 2016
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:1,900
- Lot Size:N/A
- Total Number of Employees:5
- Furniture, Fixtures and Equipment:N/A
Seller provides training for 2 weeks with no cost.
The business was founded in 2016, making the business 6 years old.
The sale shall include inventory valued at $7,000, which is included in the asking price.
The company has 5 employees and is situated in a building with approx. square footage of 1,900 sq ft.
The real estate is leased by the business for $4,700 per Month
Why is the Current Owner Selling The Business?
There are all kinds of reasons why people decide to sell businesses. Nonetheless, the genuine factor vs the one they say to you might be 2 totally different things. As an example, they might claim "I have a lot of other commitments" or "I am retiring". For many sellers, these factors are valid. However, for some, these may just be reasons to try to hide the reality of changing demographics, increased competition, current decrease in revenues, or an array of various other factors. This is why it is really essential that you not depend completely on a vendor's word, however rather, make use of the vendor's solution along with your total due diligence. This will paint a more sensible 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. Numerous companies borrow money so as to cover things like inventory, payroll, accounts payable, and so on. Remember that in some cases this can indicate that revenue margins are too thin. Lots of companies fall under a revolving door of taking on debt as a way to pay back other loans. Along with debts, there may likewise be future obligations to take into consideration. There might be an outstanding lease on equipment or the structure where the business resides. The business might have existing contracts with suppliers that need to be satisfied or might result in penalties if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Just how do operating businesses in the area bring in brand-new customers? Many times, businesses have repeat customers, which develop the core of their everyday revenues. Certain factors such as new competitors sprouting up around the area, roadway construction, and employee turn over can impact repeat customers and also negatively affect future earnings. One crucial thing to consider is the placement of the business. Is it in a very trafficked shopping mall, or is it hidden from the highway? Clearly, the more individuals that see the business often, the greater the opportunity to develop a returning client base. A last idea is the general location demographics. Is the business placed in a densely inhabited city, or is it located on the outside border of town? How might the local typical home earnings effect future revenue prospects?