Listing ID: 80265
Business Overview
Don’t miss this opportunity! This location is incomparable. Exciting new concept can be yours, or you can introduce your brand to this beautifully designed newer building. An extremely high traffic count, prominent visibility contribute to making this a one of a kind location. RE included.
Financial
- Asking Price: $3,030,000
- Cash Flow: N/A
- Gross Revenue: N/A
- EBITDA: N/A
- FF&E: N/A
- Inventory: $3,000
- Inventory Included: Yes
- Established: 2017
Detailed Information
- Property Owned or Leased:Own
- Property Included:N/A
- Building Square Footage:11,343
- Lot Size:N/A
- Total Number of Employees:4
- Furniture, Fixtures and Equipment:N/A
Beautiful four year old building with ample parking and great visibility. The interior has a beautiful dining area as well as an attractive lounge area with a club like atmosphere.
Other interests
As travel restrictions loosen, Savannah is a top tourist destination. The restaurant sees continued growth of their special events in the lounge.
Additional Info
The venture was started in 2017, making the business 5 years old.
The deal will include inventory valued at $3,000, which is included in the requested price.
The company has 4FT, 8 PT employees and is situated in a building with disclosed square footage of 11,343 sq ft.
Why is the Current Owner Selling The Business?
There are all sorts of reasons people choose to sell operating businesses. Nevertheless, the true factor vs the one they tell you might be 2 totally different things. For instance, they may state "I have too many other responsibilities" or "I am retiring". For numerous sellers, these reasons are valid. But, for some, these may just be justifications to try to conceal the reality of transforming demographics, increased competition, current decrease in profits, or an array of other reasons. This is why it is really essential that you not rely absolutely on a seller's word, but instead, use the seller's response combined with your total due diligence. This will repaint a much more reasonable image of the business's existing circumstance.
Existing Debts and Future Obligations
If the existing entity is in debt, which lots of companies are, then you will certainly have reason to consider this when valuating/preparing your offer. Many companies borrow money in order to cover things like stock, payroll, accounts payable, etc. Keep in mind that occasionally this can imply that revenue margins are too thin. Numerous businesses come under a revolving door of taking loans as a way to pay back various other loans. In addition to debts, there may additionally be future obligations to take into consideration. There might be an outstanding lease on tools or the building where the business resides. The business may have existing agreements with vendors that have to be met or might cause charges if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do businesses in the location bring in brand-new clients? Most times, companies have repeat customers, which create the core of their everyday profits. Certain factors such as new competition sprouting up around the area, road construction, and staff turn over can affect repeat clients and negatively affect future incomes. One essential thing to consider is the area of the business. Is it in a highly trafficked shopping center, or is it concealed from the highway? Obviously, the more individuals that see the business regularly, the greater the chance to develop a returning consumer base. A final idea is the basic location demographics. Is the business located in a largely inhabited city, or is it located on the outskirts of town? Exactly how might the local typical house income influence future income prospects?
