Listing ID: 79435
Located On Rt. 19 in lower Pinellas City. This restaurant has been in the same area for 50 years. There are 100 seats and the kitchen is completely up to date. The lease has 12 years to go and the yearly increases are low. This is a terrific opportunity for a family to make and excellent living. This restaurant has been completely renovated including new roof. The restaurant is qualified for SBA financing. With half the tables in operation because of the virus the restaurant is still producing numbers.
- Asking Price: $700,000
- Cash Flow: $300,000
- Gross Revenue: $1,400,000
- EBITDA: N/A
- FF&E: N/A
- Inventory: $25,000
- Inventory Included: N/A
- Established: 1969
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:3,000
- Lot Size:N/A
- Total Number of Employees:14
- Furniture, Fixtures and Equipment:N/A
all facilities in excellent shape
will stay one mth
Moving to different industry
The business was established in 1969, making the business 53 years old.
The deal doesn't include inventory valued at $25,000*, which ins't included in the suggested price.
The company has 14 employees and is situated in a building with approx. square footage of 3,000 sq ft.
The real estate is leased by the business for $6,135 per Month
Why is the Current Owner Selling The Business?
There are all sorts of reasons individuals choose to sell operating businesses. Nonetheless, the genuine factor vs the one they say to you might be 2 completely different things. For instance, they may state "I have a lot of other obligations" or "I am retiring". For lots of sellers, these reasons are valid. But also, for some, these may simply be justifications to try to hide the reality of altering demographics, increased competitors, recent reduction in profits, or a range of various other factors. This is why it is very vital that you not depend completely on a vendor's word, but rather, use the seller's solution combined with your general due diligence. This will repaint an extra practical picture of the business's current scenario.
Existing Debts and Future Obligations
If the current business is in debt, which numerous businesses are, then you will have reason to consider this when valuating/preparing your deal. Many businesses finance loans in order to cover items such as supplies, payroll, accounts payable, so on and so forth. Keep in mind that in some cases this can imply that profit margins are too thin. Lots of businesses come under a revolving door of taking loans as a way to pay back other loans. Along with 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 may have existing contracts with suppliers that have to be met or may cause charges if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do companies in the area attract brand-new consumers? Most times, companies have repeat consumers, which form the core of their day-to-day profits. Certain elements such as new competitors growing up around the location, roadway building, and personnel turnover can impact repeat consumers and adversely affect future revenues. One important thing to think about is the placement of the business. Is it in a highly trafficked shopping center, or is it hidden from the highway? Certainly, the more individuals that see the business often, the higher the opportunity to construct a returning customer base. A final thought is the basic location demographics. Is the business placed in a largely populated city, or is it located on the outside border of town? Just how might the neighborhood median family income impact future income potential?