Listing ID: 80368
Opportunity to acquire an established and profitable Mexican restaurant with great reviews. Est. 2013
This restaurant is close to many single-family home neighborhoods and apartments, located off the main road with an average annual daily traffic of 31,700 cars per day! A winning location. Monthly Rent w/ CAM is $7,700
Fully staffed! General Manager, Bar Manager, Kitchen Manager in place. The owner mainly focuses on opening other restaurant concepts, and on supervising the managers of the business. Excellent employee retention, many of the staff have been with the business for 3+ years.
It is a huge place with seating for over 200 people on the inside. Inside there are 14 TVs, 2 bars, and a stage with professional lights and sound equipment. Outside there’s a patio and a huge parking lot with plenty of spaces and room for outdoor events. Everything you need to host a good time! Margarita Machine included.
Events that are a current tradition of the business are weekly Trivia, weekly live music, and one of the biggest Cinco de Mayo parties in the State!
Open for lunch and dinner every day.
- Asking Price: $980,000
- Cash Flow: $280,000
- Gross Revenue: $1,430,000
- EBITDA: N/A
- FF&E: $200,000
- Inventory: $10,000
- Inventory Included: Yes
- Established: 2013
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:4,500
- Lot Size:N/A
- Total Number of Employees:20
- Furniture, Fixtures and Equipment:N/A
other business interests
The venture was started in 2013, making the business 9 years old.
The transaction will include inventory valued at $10,000, which is included in the listing price.
The company has 20 employees and is situated in a building with estimated square footage of 4,500 sq ft.
The building is leased by the company for $7,700 per Month
Why is the Current Owner Selling The Business?
There are all kinds of reasons why individuals decide to sell operating businesses. Nonetheless, the genuine reason and the one they tell you may be 2 completely different things. As an example, they might state "I have a lot of other obligations" or "I am retiring". For numerous sellers, these factors are valid. But, for some, these may simply be justifications to try to conceal the reality of altering demographics, increased competitors, recent reduction in revenues, or a variety of other reasons. This is why it is extremely essential that you not count entirely on a vendor's word, however rather, utilize the vendor's solution combined with your general due diligence. This will repaint an extra reasonable image of the business's existing scenario.
Existing Debts and Future Obligations
If the existing company is in debt, which numerous businesses are, then you will need to consider this when valuating/preparing your offer. Many operating businesses borrow money so as to cover items like supplies, payroll, accounts payable, so on and so forth. Keep in mind that occasionally this can indicate that earnings margins are too small. Numerous companies come under a revolving door of taking on debt as a way to pay back other loans. Along with debts, there may also be future commitments to consider. There may be an outstanding lease on tools or the building where the business resides. The business might have existing contracts with vendors that have to be satisfied or may result in fines if canceled early.
Understanding the Customer Base, Competition and Area Demographics
How do companies in the area draw in new clients? Most times, companies have repeat consumers, which develop the core of their day-to-day profits. Certain aspects such as brand-new competitors sprouting up around the area, roadway building and construction, and also employee turnover can influence repeat consumers as well as negatively influence future profits. One important thing to consider is the location of the business. Is it in a highly trafficked shopping mall, or is it hidden from the highway? Clearly, the more people that see the business regularly, the greater the opportunity to construct a returning client base. A final thought is the basic area demographics. Is the business placed in a densely populated city, or is it located on the edge of town? Exactly how might the local median home income influence future income prospects?