Listing ID: 79444
Iconic Landmark Restaurant and Ice Cream Shop is FOR SALE! Located in the heart of a highly desirable, high-end Island Community of Southwest Florida. Situated in an historic landmark building with high visibility and tons of foot traffic. Great reviews. Highly profitable and manageable opportunity with verifiable financials. 150 seats with inside and outside dining. full liquor with an SRX license. This long-established restaurant is a turnkey operation. Enjoy the island lifestyle while making a great living. SBA Lender Pre-qualified with $93,000 Down.
- Asking Price: $895,000
- Cash Flow: $321,291
- Gross Revenue: $1,363,754
- EBITDA: N/A
- FF&E: $175,000
- Inventory: $12,000
- Inventory Included: Yes
- Established: 2004
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:1,721
- Lot Size:N/A
- Total Number of Employees:15
- Furniture, Fixtures and Equipment:N/A
The company was started in 2004, making the business 18 years old.
The deal does include inventory valued at $12,000, which is included in the listing price.
The company has 15 employees and is situated in a building with disclosed square footage of 1,721 sq ft.
The property is leased by the company for $10,914 per Month
Why is the Current Owner Selling The Business?
There are all kinds of reasons why individuals resolve to sell companies. Nonetheless, the real reason and the one they tell you may be 2 totally different things. As an example, they might say "I have a lot of various commitments" or "I am retiring". For lots of sellers, these factors stand. However, for some, these might simply be excuses to try to conceal the reality of changing demographics, increased competitors, current reduction in incomes, or a variety of other reasons. This is why it is really important that you not rely completely on a seller's word, but rather, make use of the vendor's answer in conjunction with your overall due diligence. This will paint a more realistic image of the business's existing situation.
Existing Debts and Future Obligations
If the existing business is in debt, which lots of companies are, then you will need to consider this when valuating/preparing your deal. Many companies finance loans with the purpose of covering things such as stock, payroll, accounts payable, so on and so forth. Keep in mind that sometimes this can suggest that earnings margins are too small. Lots of organisations fall under a revolving door of taking on debt as a way to pay back various other loans. In addition to debts, there may additionally be future commitments to consider. There may be an outstanding lease on tools or the structure where the business resides. The business may have existing contracts with vendors that must be fulfilled or might cause fines if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Just how do businesses in the location draw in new consumers? Many times, businesses have repeat customers, which create the core of their daily earnings. Certain variables such as brand-new competitors sprouting up around the location, road building, and personnel turn over can influence repeat customers and negatively influence future profits. One essential thing to think about is the placement of the business. Is it in a highly trafficked shopping mall, or is it concealed from the main road? Clearly, the more individuals that see the business regularly, the better the opportunity to construct a returning consumer base. A last idea 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 regional mean family income influence future revenue prospects?