Listing ID: 79396
This is a 90 seat 3000 sq/ft pizza restaurant located in excellent area of Tampa. It has been in business 22 years same owners who are now ready to retire. The kitchen is large with walk in and all reach-ins. There are 7 employees and the hrs of operation are Mon-Thurs 11am-10pm, Fri-Sat 11am-11pm and Sun 12pm-8pm.
- Asking Price: $685,000
- Cash Flow: $300,000
- Gross Revenue: $1,250,000
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 1999
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:3,000
- Lot Size:N/A
- Total Number of Employees:7
- Furniture, Fixtures and Equipment:N/A
In good shape
will stay one mth
The business was started in 1999, making the business 23 years old.
The business has 7 employees and is situated in a building with estimated square footage of 3,000 sq ft.
The property is leased by the company for $5,300 per Month
Why is the Current Owner Selling The Business?
There are all kinds of reasons individuals resolve to sell companies. Nonetheless, the real reason vs the one they tell you might be 2 completely different things. As an example, they may say "I have a lot of other responsibilities" or "I am retiring". For lots of sellers, these reasons stand. But also, for some, these may just be excuses to attempt to conceal the reality of changing demographics, increased competition, recent decrease in earnings, or a range of other reasons. This is why it is extremely crucial that you not depend absolutely on a vendor's word, but rather, make use of the vendor's response together with your overall due diligence. This will repaint an extra practical image of the business's present scenario.
Existing Debts and Future Obligations
If the current entity is in debt, which lots of companies are, then you will need to consider this when valuating/preparing your deal. Numerous businesses finance loans in order to cover things like supplies, payroll, accounts payable, so on and so forth. Remember that in some cases this can suggest 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 likewise be future commitments to think about. There may be an outstanding lease on equipment or the building where the business resides. The business might have existing contracts with suppliers that need to be satisfied or may cause penalties if canceled early.
Understanding the Customer Base, Competition and Area Demographics
How do operating businesses in the location bring in new customers? Often times, companies have repeat customers, which form the core of their daily revenues. Particular factors such as brand-new competitors growing up around the location, roadway building, as well as personnel turn over can impact repeat customers and also adversely affect future earnings. One important point to consider is the placement of the business. Is it in an extremely trafficked shopping mall, or is it concealed from the highway? Obviously, the more people that see the business on a regular basis, the better the chance to develop a returning consumer base. A final thought is the general location demographics. Is the business placed in a largely inhabited city, or is it located on the outside border of town? Exactly how might the local median house earnings influence future revenue potential?