Business Overview

After almost 2 decades, the owners of a well-established Authentic Chinese Restaurant with a Full Bar are ready to retire!

This is a turn-key business!

This business is in a Neighborhood Center and features:
• Located on a highly trafficked highway in northeast Gwinnett County
• Dedicated turn lane
• Neighboring tenants include banks, medical offices, educational & financial businesses, and other restaurants
• Business displayed on Center’s Pylon Sign

The owner has built a loyal following by providing excellent customer service, high-quality food, all in a relaxing atmosphere.

The restaurant features a spacious dining area and a dining area for private parties; a large outside seating area; a full bar: an open kitchen and a working kitchen; a large walk-in cooler and freezer, fully equipped kitchen for Asian cuisine in mint condition.

The purchase price includes all furniture, fixtures, equipment, and inventory.
New owners may keep Chinese cuisine or change within concepts allowed in the lease.
Sellers will ensure a smooth transition for the new owner.

Gross Sales (approximate):
• 2019: $791K
• 2020: $607K
• Jan 2022 $64K

The exact location is not disclosed for confidentiality purposes.

Financial

  • Asking Price: $350,000
  • Cash Flow: $120,000
  • Gross Revenue: N/A
  • EBITDA: N/A
  • FF&E: N/A
  • Inventory: N/A
  • Inventory Included: N/A
  • Established: N/A
Purpose For Selling:

Retirement

Pros and Cons:

Some competition, but management feels none that compare with food quality, customer service, and atmosphere.

Why is the Current Owner Selling The Business?

There are all kinds of reasons why individuals choose to sell businesses. Nevertheless, the genuine factor vs the one they say to you might be 2 completely different things. As an example, they may state "I have a lot of other commitments" or "I am retiring". For lots of sellers, these factors are valid. But, for some, these might just be justifications to try to conceal the reality of changing demographics, increased competitors, recent reduction in profits, or a variety of other factors. This is why it is really essential that you not depend completely on a vendor's word, yet instead, utilize the vendor's response together with your general due diligence. This will repaint an extra sensible picture of the business's current circumstance.

Existing Debts and Future Obligations

If the current business is in debt, which lots of companies are, then you will certainly need to consider this when valuating/preparing your offer. Lots of operating businesses finance loans with the purpose of covering items like stock, payroll, accounts payable, etc. Keep in mind that occasionally this can indicate that revenue margins are too thin. Many organisations come under a revolving door of taking loans as a way to pay back other loans. Along with debts, there may likewise be future commitments to consider. There may be an outstanding lease on tools or the structure where the business resides. The business might have existing contracts with suppliers that must be satisfied or may result in fines if canceled early.

Understanding the Customer Base, Competition and Area Demographics

Just how do businesses in the location attract new clients? Many times, companies have repeat consumers, which form the core of their day-to-day profits. Particular aspects such as brand-new competition sprouting up around the location, road building and construction, as well as personnel turn over can impact repeat consumers and negatively influence future incomes. One vital thing to consider is the placement of the business. Is it in an extremely trafficked shopping center, or is it hidden from the main road? Clearly, the more people that see the business often, the higher the chance to construct a returning customer base. A final idea is the general area demographics. Is the business located in a densely inhabited city, or is it located on the edge of town? How might the regional median family earnings effect future earnings potential?