Listing ID: 80672
This Maui restaurant is a local favorite for over 85 years and the current owners are retiring and are looking for a hard-working buyer or family to continue the legacy. Japanese generational recipes will be passed on to the new owners to keep the local clients coming back for more. It is the only sit-down Japanese restaurant with large capacity in Wailuku & Kahului for its population of over 30,000 locals plus some tourists and provides both lunch and dinner.
• STRONG BRAND NAME recognition and prestige by existing for 86 years
• Only sit-sit down for lunch and dinner Japanese restaurant in Wailuku, Kahului for 30,000 population
• 99% local traffic and not dependent on tourists
• Recipes passed down for generations
To receive a detailed Confidential Business Profile with full business and tax return based financial details, please contact Hawaii Business Sales.
- Asking Price: $300,000
- Cash Flow: $152,000
- Gross Revenue: $705,614
- EBITDA: N/A
- FF&E: $120,000
- Inventory: $10,000
- Inventory Included: Yes
- Established: 1936
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:2,000
- Lot Size:N/A
- Total Number of Employees:8
- Furniture, Fixtures and Equipment:N/A
Status: Leased Monthly Rent: $2,203 base rent plus CAM; estimated CAM of $569 plus GET (@4%) $111, total: $2,884 Sq. Ft.: est. 2,000 Lease Expiration Date: 11/30/2023 Renewal options:5 year option
EXPANSION OPPORTUNITIES • Currently no liquor license. New owner could apply for a Maui County liquor license as a way to increase revenues. (Restaurant had a liquor license years ago) • New owner can add catering, advertise, and open longer • New owner could also refresh the interior to make it more appealing to customers
The company was founded in 1936, making the business 86 years old.
The sale shall include inventory valued at $10,000, which is included in the suggested price.
The company has 8 employees and is situated in a building with approx. square footage of 2,000 sq ft.
The building is leased by the company for $2,884 per Month
Why is the Current Owner Selling The Business?
There are all sorts of reasons individuals choose to sell companies. Nonetheless, the true reason and the one they tell you may be 2 entirely different things. As an example, they might state "I have way too many other commitments" or "I am retiring". For many sellers, these factors are valid. However, for some, these may simply be reasons to attempt to hide the reality of changing demographics, increased competition, recent reduction in incomes, or a range of other factors. This is why it is really crucial that you not depend absolutely on a seller's word, but instead, utilize the seller's answer along with your general due diligence. This will repaint an extra realistic picture of the business's existing situation.
Existing Debts and Future Obligations
If the existing company is in debt, which many businesses are, then you will have reason to consider this when valuating/preparing your deal. Numerous businesses take out loans so as to cover points such as inventory, payroll, accounts payable, so on and so forth. Bear in mind that in some cases this can suggest that revenue margins are too small. Many organisations fall under a revolving door of taking loans as a way to pay back other loans. Along with debts, there may additionally be future obligations to take into consideration. There may be an outstanding lease on equipment or the structure where the business resides. The business may have existing agreements with vendors that must be met or might result in fines if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Just how do businesses in the area draw in brand-new clients? Most times, operating businesses have repeat consumers, which create the core of their day-to-day revenues. Particular elements such as brand-new competition sprouting up around the location, roadway building and construction, as well as staff turn over can affect repeat consumers and also negatively influence future revenues. One important thing to consider is the location of the business. Is it in an extremely trafficked shopping center, or is it hidden from the main road? Undoubtedly, the more individuals that see the business regularly, the better the possibility to build a returning customer base. A final thought is the basic area demographics. Is the business placed in a densely inhabited city, or is it situated on the edge of town? Just how might the neighborhood average house earnings influence future earnings prospects?