Listing ID: 80493
Unique BBQ restaurant with three profitable revenue streams, generating strong six figure annual sales and Sellers Discretionary earnings. The business continues to trend well in 2021 with Q3 reporting well above 2019 and 2020 results providing a 41% increase in NOI year over year. Exceptional records and financials make this an easy decision and transition for a motivated and qualified buyer ready to assume control of this rewarding business.
A stand-alone business location on 1.5 acres located on a major state highway in a fast-emerging area. The owners spent more than $1.5 Million in developing this beautiful location. The restaurant is 1475 square feet, with indoor and outdoor seating. A strong take-out service, as well as a 1520 square foot building for another successful business entity included in the sale. Also Included in the sale is a 2015 Chevy 2500HD Z71 Duramax diesel 4WD truck with a 24FT World Wide concession trailer set up for special event CASH or credit card sales.
Recently awarded Best Small Business in the city in addition to multiple annual Best of County awards. Owner is willing to help train the buyer and make a smooth transition. Seller financing is available for a qualified buyer. Excellent ratings on Yelp, Trip Advisor, Google, and Facebook. Highly recommended by local Airbnb owners to their vacation rental customers.
- Asking Price: $549,900
- Cash Flow: $134,342
- Gross Revenue: $519,148
- EBITDA: N/A
- FF&E: $365,293
- Inventory: $31,365
- Inventory Included: Yes
- Established: 2013
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:3,000
- Lot Size:N/A
- Total Number of Employees:6
- Furniture, Fixtures and Equipment:N/A
One 1475 SF turn-key restaurant fully ADA compliant with indoor and outdoor seating. Plus One 1520 SF building currently established for secondary revenue stream. Ample parking, plus overflow lot. Fenced and secure access along with full video and alarm system. Oversized septic system can support additional growth or volume. This is a purpose built location by the current owners and is offered to a qualified buyer on a lease basis yet to be determined between owner and buyer.
Closest competitor is located 9 miles away and does not offer the same menu, services, and convenience. This unique fast & casual business model is unmatched in North Georgia.
Increased online presence and delivery options will expand takeout sales tremendously. Growth of concession sales by adding additional equipment and staff. This business has franchising potential.
The company was founded in 2013, making the business 9 years old.
The sale shall include inventory valued at $31,365, which is included in the listing price.
The business has 6 employees and is located in a building with estimated square footage of 3,000 sq ft.
The building is leased by the business for $3,750 per Month
Why is the Current Owner Selling The Business?
There are all sorts of reasons why individuals decide to sell businesses. However, the genuine reason vs the one they tell you might be 2 totally different things. As an example, they might say "I have a lot of other commitments" or "I am retiring". For lots of sellers, these factors are valid. But also, for some, these may simply be excuses to try to hide the reality of altering demographics, increased competitors, recent decrease in revenues, or a range of other reasons. This is why it is extremely important that you not count completely on a seller's word, but rather, utilize the seller's solution combined with your general due diligence. This will repaint a much more realistic picture of the business's existing scenario.
Existing Debts and Future Obligations
If the current entity is in debt, which lots of businesses are, then you will need to consider this when valuating/preparing your deal. Lots of operating businesses borrow money so as to cover items such as stock, payroll, accounts payable, etc. Bear in mind that sometimes this can imply that revenue margins are too tight. Lots of businesses fall under a revolving door of taking on debt as a way to pay back other loans. In addition to debts, there may also be future obligations to think about. There may be an outstanding lease on tools or the structure where the business resides. The business may have existing agreements with suppliers that have to be satisfied or may lead to penalties if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Just how do businesses in the area draw in brand-new consumers? Often times, businesses have repeat consumers, which create the core of their day-to-day revenues. Certain elements such as new competition growing up around the location, roadway building, as well as employee turnover can affect repeat consumers and also negatively affect future revenues. One essential thing to consider is the location of the business. Is it in a very trafficked shopping center, or is it concealed from the main road? Clearly, the more people that see the business regularly, the better the chance to develop a returning consumer base. A last thought is the general area demographics. Is the business located in a largely populated city, or is it situated on the outside border of town? How might the local mean household income influence future earnings prospects?