Listing ID: 80817
Turn key Restaurant/Bar in full operation in the quaint historic town of Elk City, IDAHO. Very CLEAN. Nicely RENOVATED keeping the rustic look. Complete COMMERICAL KITCHEN, walk-in cooler, nice DINING ROOM, big BAR area, covered PATIO. Beer & wine license. ALL INVENTORY, fixtures and appliances for business operation INCLUDED. New electrical & plumbing, 2 Rinnae propane heat units & pellet stove for heat, New generator. City water & sewer.
- Asking Price: $240,000
- Cash Flow: N/A
- Gross Revenue: N/A
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 1950
- Property Owned or Leased:Own
- Property Included:Yes
- Building Square Footage:2,257
- Lot Size:N/A
- Total Number of Employees:N/A
- Furniture, Fixtures and Equipment:N/A
This property was not operational from 2011-2018. The current owner bought it and completely renovated it. Assets included: Building and 1/3 ac property. RV or MFH hookup can be reinstalled at back of property for on-site living. Inventory and equipment/fixures to operate are included. (Home Based)
Owner is local and is happy to share all operating details.
The market condition is stable. Competition is minimal.
This community is getting busier and it is predicted that more folks will move to and/or recreate in the area. Elk City sits in the middle of the fabulous Nez Perce National Forest and recreation in endless summer and winter!
This Business Is Home Based
The company was founded in 1950, making the business 72 years old.
Why is the Current Owner Selling The Business?
There are all types of reasons why people decide to sell businesses. However, the real reason vs the one they say to you might be 2 totally different things. As an example, they may state "I have too many other commitments" or "I am retiring". For numerous sellers, these factors are valid. But also, for some, these might just be reasons to attempt to hide the reality of transforming demographics, increased competition, current decrease in earnings, or an array of various other factors. This is why it is very essential that you not depend absolutely on a seller's word, but rather, utilize the vendor's answer in conjunction with your overall due diligence. This will paint a much more reasonable image of the business's current situation.
Existing Debts and Future Obligations
If the existing business is in debt, which numerous businesses are, then you will certainly have reason to consider this when valuating/preparing your offer. Numerous businesses borrow money in order to cover points such as supplies, payroll, accounts payable, etc. Remember that occasionally this can suggest that revenue margins are too tight. Many businesses fall under a revolving door of taking on debt as a way to pay back other loans. In addition to debts, there may additionally be future obligations to take into consideration. There might be an outstanding lease on equipment or the building where the business resides. The business might have existing contracts with suppliers that have to be fulfilled or may result in fines if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do businesses in the location bring in brand-new consumers? Often times, businesses have repeat customers, which form the core of their daily revenues. Certain elements such as brand-new competition growing up around the area, roadway building, and employee turnover can influence repeat customers and negatively impact future profits. One important point to think about is the placement of the business. Is it in a very trafficked shopping mall, or is it concealed from the highway? Certainly, the more individuals that see the business often, the higher the opportunity to develop a returning client base. A last idea is the basic area demographics. Is the business situated in a largely inhabited city, or is it located on the edge of town? Exactly how might the regional mean household income influence future revenue potential?