Business Overview

This Atlantic Ave (in Delray) restaurant has been serving top-of-the-line lunch and dinners for many years! Highly reputable with one of the best locations in S. Florida. The restaurant serves a mix of Seafood and Steak choices and is known for its high quality and A+ service. Seats about 65 with seating at the Bar and some outside tables. Excellent staff in place makes this a turnkey opportunity. Take advantage of a rare opportunity to own a long-term, successful restaurant in the heart of Delray. Financials are from 2019, pre-COVID. Please refer to listing number 7301462599, business broker David Ballou when inquiring about this listing.

Financial

  • Asking Price: $900,000
  • Cash Flow: $350,000
  • Gross Revenue: $1,300,000
  • EBITDA: N/A
  • FF&E: $50,000
  • Inventory: $7,000
  • Inventory Included: Yes
  • Established: 1999

Detailed Information

  • Property Owned or Leased:N/A
  • Property Included:N/A
  • Building Square Footage:2,000
  • Lot Size:N/A
  • Total Number of Employees:15
  • Furniture, Fixtures and Equipment:N/A
About The Facility:

Lease/Month: 9000 Square Footage: 2000 Building Type: Restaurant Terms & Options: 4 years remaining Expiration Date: 12/30/2025

Is Support & Training Included:

Weeks Training: 2 Cost: $0

Purpose For Selling:

Owner Retiring

Pros and Cons:

Non Compete : Miles: 20 Years: 3

Additional Info

The business was established in 1999, making the business 23 years old.
The deal shall include inventory valued at $7,000, which is included in the requested price.

The business has 15 employees and is situated in a building with estimated square footage of 2,000 sq ft.
The property is leased by the company for $9,000 per Month

Why is the Current Owner Selling The Business?

There are all sorts of reasons why people decide to sell companies. Nevertheless, the real factor and the one they say to you might be 2 absolutely different things. For instance, they may state "I have a lot of other responsibilities" or "I am retiring". For numerous sellers, these reasons are valid. However, for some, these may simply be excuses to attempt to hide the reality of changing demographics, increased competition, current decrease in revenues, or a range of other factors. This is why it is extremely important that you not rely absolutely on a seller's word, however rather, utilize the vendor's response combined with your overall due diligence. This will paint a more reasonable picture of the business's existing scenario.

Existing Debts and Future Obligations

If the current company is in debt, which lots of businesses are, then you will have reason to consider this when valuating/preparing your deal. Numerous businesses borrow money in order to cover points such as supplies, payroll, accounts payable, etc. Remember that sometimes this can suggest that revenue margins are too thin. Lots of organisations come under a revolving door of taking on debt as a way to pay back various other loans. In addition to debts, there may likewise be future obligations 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 need to be met or might lead to charges if canceled early.

Understanding the Customer Base, Competition and Area Demographics

Exactly how do companies in the area bring in brand-new consumers? Often times, businesses have repeat customers, which develop the core of their daily profits. Specific variables such as brand-new competitors sprouting up around the location, roadway building and construction, and staff turnover can impact repeat consumers as well as negatively influence future earnings. One essential point to consider is the placement of the business. Is it in an extremely trafficked shopping center, or is it hidden from the highway? Clearly, the more people that see the business regularly, the better the opportunity to construct a returning customer base. A final thought is the general location demographics. Is the business located in a largely populated city, or is it situated on the outskirts of town? How might the neighborhood mean home income influence future earnings potential?