Listing ID: 80416
Business Overview
Established over 30 years ago, this brand continues to boom serving music, food, and drinks 7 days a week.
70% of Gross Sales Revenue is Food, and 30% is Drinks
Besides this the restaurant does charge admission for music events.
All of this is done with a stellar staff and management– many of them have been with the business for over 8 years.
1 Kitchen Manager
1 Bar Manager
1 Floor Manager
The location is premium with thousands of cars driving past it everyday. 60% of business is out of town, 40% is local.
The restaurant has been in this location for 8+ years now. It is a fully equipped restaurant/bar/music venue with a capacity to seat 250 people inside and 50 people outside. Besides kitchen and bar equipment, this sale includes over $60,000 in sound equipment for the live performances.
Business is still booming even during the COVID crisis. In fact it is growing!
Take advantage of the new SBA lending stimulus for restaurant loans!
Call today for more info
Established over 35 years ago. Been in this location for 8 years+
Financial
- Asking Price: $1,900,000
- Cash Flow: $718,800
- Gross Revenue: $3,189,000
- EBITDA: N/A
- FF&E: $200,000
- Inventory: $25,000
- Inventory Included: Yes
- Established: N/A
Detailed Information
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:3
- Furniture, Fixtures and Equipment:N/A
2 weeks
Retiring
Additional Info
The deal does include inventory valued at $25,000, which is included in the asking price.
Why is the Current Owner Selling The Business?
There are all types of reasons why individuals decide to sell companies. However, the genuine factor vs the one they say to you may be 2 absolutely different things. As an example, they might claim "I have way too many other commitments" or "I am retiring". For many sellers, these reasons stand. But also, for some, these might simply be reasons to attempt to hide the reality of transforming demographics, increased competitors, current decrease in earnings, or an array of various other reasons. This is why it is extremely crucial that you not count totally on a vendor's word, yet instead, use the seller's solution combined with your general due diligence. This will repaint a much more sensible image of the business's existing situation.
Existing Debts and Future Obligations
If the existing business is in debt, which many companies are, then you will certainly have reason to consider this when valuating/preparing your offer. Numerous operating businesses take out loans in order to cover points such as supplies, payroll, accounts payable, and so on. Remember that sometimes this can mean that revenue margins are too small. Numerous organisations fall into a revolving door of taking on debt as a way to pay back other loans. In addition to debts, there may also be future commitments to take into consideration. There may be an outstanding lease on equipment or the structure where the business resides. The business might have existing agreements with vendors that must be fulfilled or may cause fines if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Just how do companies in the location bring in brand-new customers? Many times, businesses have repeat clients, which develop the core of their day-to-day profits. Particular elements such as new competition growing up around the location, road building, as well as personnel turnover can affect repeat clients and also adversely influence future revenues. One vital point to consider is the location of the business. Is it in a very trafficked shopping center, or is it concealed from the main road? Undoubtedly, the more people that see the business regularly, the better the opportunity to develop a returning customer base. A last thought is the basic area demographics. Is the business placed in a largely populated city, or is it situated on the outskirts of town? Just how might the neighborhood average family earnings impact future income prospects?
