Listing ID: 80780
The company launched over 10 years ago as a small locals-friendly operation specializing in creative eclectic dining options. The business was an immediate success allowing them to expand from their humble beginnings and grow into the full scale operation it is today. The restaurant has developed a cult following for great food and service, eclectic specialty dishes and a diverse beverage program. As a forward-thinking business, they are involved in local charities, procure produce from local vendors, and are environmentally conscious.
- Asking Price: $400,000
- Cash Flow: N/A
- Gross Revenue: $1,248,678
- EBITDA: N/A
- FF&E: $61,400
- Inventory: $10,000
- Inventory Included: Yes
- Established: N/A
The convenient location is highly visible and easily accessible with parking available in the immediate area. The space is well laid out with a dedicated kitchen, dining space and patio that emphasizes the amazing vistas. Beautiful décor compliments the natural beauty of the area and the views from the dining room and patio. The space is +/-2,400 square feet and the current lease runs until 2024.
The owners will stay on for a negotiable period to ensure a smooth transition to the new owner.
The owners are looking to relocate out of the area.
The multiple strengths include over a decade of successful operations that have earned the restaurant a reputation as a top destination when visiting or living in the area. The restaurant and staff have an intense focus on a positive guest experience; food, drink and ambiance. The operation continues to excel and strive for total customer satisfaction.
The ideal buyer would be any entrepreneur with experience and/or interest in a lucrative business that generates ample cash flow to support living in one of the most beautiful resort areas in the state. The owners will stay on for a negotiable period to ensure a smooth transition to the new owner. THE POSSIBILITIES New Ownership could take a more active day-to-day role in operating the business which would reduce overhead. Although the restaurant and concept is wildly popular, a new owner may wish to add additional offerings based upon taste and preferences. Hours could be expanded as an easy way to further improve sales and increase profitability.
The deal shall include inventory valued at $10,000, which is included in the suggested price.
Why is the Current Owner Selling The Business?
There are all kinds of reasons why people choose to sell companies. Nevertheless, the genuine factor vs the one they say to you might be 2 entirely different things. For instance, they may state "I have a lot of various responsibilities" or "I am retiring". For many sellers, these reasons are valid. But, for some, these might simply be excuses to attempt to conceal the reality of altering demographics, increased competition, recent reduction in incomes, or a variety of various other factors. This is why it is very important that you not depend absolutely on a seller's word, but instead, make use of the seller's solution together with your general due diligence. This will repaint a more practical image of the business's current scenario.
Existing Debts and Future Obligations
If the current company is in debt, which numerous businesses are, then you will need to consider this when valuating/preparing your deal. Lots of businesses take out loans in order to cover points like supplies, payroll, accounts payable, so on and so forth. Bear in mind that sometimes this can mean that earnings margins are too thin. Lots of businesses fall into a revolving door of taking on debt as a way to pay back various other loans. In addition to debts, there may likewise be future commitments to think about. There may be an outstanding lease on tools or the building where the business resides. The business might have existing contracts with vendors that should be met or might cause penalties if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Just how do companies in the location attract new clients? Many times, operating businesses have repeat consumers, which develop the core of their day-to-day revenues. Specific aspects such as brand-new competition growing up around the location, roadway building and construction, and also staff turnover can influence repeat consumers and adversely impact future profits. One vital point to think about is the location of the business. Is it in a very trafficked shopping center, or is it concealed from the main road? Certainly, the more individuals that see the business often, the higher the opportunity to construct a returning client base. A last thought is the basic location demographics. Is the business situated in a densely populated city, or is it situated on the outskirts of town? Exactly how might the local average home earnings impact future earnings potential?