Listing ID: 79305
Great New York style Diner with over 30 years of continuous operation in North West Broward County. A community fixture with great food and ambiance. Seats 105 guests. Plenty of free parking in front. Totally renovated in 2018. Sparking clean and shiny with great food and friendly but efficient service. Rated 4 to 5 stars in TripAdvisor, Google, and other web-based rating sites. Real comfort food in generous portions, great service and a cozy atmosphere keep people in line to be seated. Perfectly sized to be easily managed. After operating it for 19 years current Owner is ready to retire. Experienced staff average over 5 years in service. A truly one of a kind family restaurant.
- Asking Price: $465,000
- Cash Flow: $227,258
- Gross Revenue: $1,392,895
- EBITDA: N/A
- FF&E: $100,000
- Inventory: $5,000
- Inventory Included: Yes
- Established: 1990
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:3,600
- Lot Size:N/A
- Total Number of Employees:23
- Furniture, Fixtures and Equipment:N/A
Seller provides training for 3 weeks with no cost.
The business was established in 1990, making the business 32 years old.
The transaction will include inventory valued at $5,000, which is included in the listing price.
The business has 23 employees and is located in a building with estimated square footage of 3,600 sq ft.
The real estate is leased by the business for $7,215 per Month
Why is the Current Owner Selling The Business?
There are all kinds of reasons why people decide to sell companies. However, the genuine reason vs the one they say to you may be 2 entirely different things. As an example, they might state "I have a lot of other commitments" or "I am retiring". For many sellers, these reasons stand. But, for some, these may simply be excuses to attempt to conceal the reality of changing demographics, increased competition, recent decrease in incomes, or a variety of various other reasons. This is why it is extremely essential that you not depend entirely on a vendor's word, but rather, use the seller's answer along with your overall due diligence. This will paint a more practical picture of the business's current scenario.
Existing Debts and Future Obligations
If the existing entity is in debt, which many businesses are, then you will certainly need to consider this when valuating/preparing your offer. Lots of businesses finance loans so as to cover points such as inventory, payroll, accounts payable, etc. Remember that occasionally this can mean that revenue margins are too small. Many businesses come under a revolving door of taking on debt as a way to pay back other loans. In addition to debts, there may additionally be future obligations to consider. There may be an outstanding lease on tools or the building where the business resides. The business might have existing agreements with suppliers that have to be satisfied or may lead to fines if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Just how do businesses in the area draw in new clients? Most times, companies have repeat consumers, which develop the core of their everyday profits. Specific aspects such as new competitors growing up around the location, roadway building and construction, and also personnel turn over can impact repeat clients as well as adversely influence future incomes. One essential point to consider is the placement of the business. Is it in a highly trafficked shopping center, or is it hidden from the main road? Undoubtedly, the more people that see the business often, the higher the opportunity to construct a returning consumer base. A final thought is the general location demographics. Is the business located in a densely inhabited city, or is it situated on the edge of town? Just how might the regional mean house income influence future earnings potential?