Listing ID: 80834
LOCATION!!! ESTABLISHED RESTAURANT WITH the past 47 years serving breakfast, lunch, and dinner to HWY 95 FRONTAGE! Family owned and operated for locals and visitors. Included equipment from a 5′ grill, two fryers, 2 broasters, commercial mixers, meat slicer, ice cream machine, walk-in freezer and walk-in refrigerator, commercial dishwasher, over 200 dinnerware sets, and the list goes on. Seating for over 100 in a separate conference room and seating for 50 in the main dining area. Commercial grade flooring was recently replaced in the kitchen. 6421 Main St 20203444 $750,000
- Asking Price: $750,000
- Cash Flow: N/A
- Gross Revenue: N/A
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: N/A
- Property Owned or Leased:Own
- Property Included:Yes
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:N/A
- Furniture, Fixtures and Equipment:N/A
Why is the Current Owner Selling The Business?
There are all sorts of reasons individuals resolve to sell operating businesses. Nevertheless, the real factor and the one they tell you may be 2 absolutely different things. For instance, they might say "I have a lot of other responsibilities" or "I am retiring". For lots of sellers, these reasons are valid. However, for some, these might simply be reasons to attempt to hide the reality of transforming demographics, increased competition, current reduction in incomes, or an array of other reasons. This is why it is really crucial that you not rely entirely on a seller's word, however instead, utilize the vendor's answer together with your overall due diligence. This will repaint a much more reasonable picture of the business's existing circumstance.
Existing Debts and Future Obligations
If the existing company is in debt, which lots of businesses are, then you will need to consider this when valuating/preparing your deal. Lots of businesses borrow money so as to cover items such as stock, payroll, accounts payable, and so on. Keep in mind that sometimes this can mean that earnings margins are too tight. Many businesses fall into a revolving door of taking loans as a way to pay back various other loans. In addition to debts, there may additionally be future obligations to think about. There might be an outstanding lease on equipment or the building where the business resides. The business may have existing agreements with vendors that have to be met or might lead to charges if terminated early.
Understanding the Customer Base, Competition and Area Demographics
How do companies in the area draw in brand-new customers? Most times, operating businesses have repeat clients, which develop the core of their day-to-day revenues. Certain aspects such as brand-new competition sprouting up around the area, roadway building, and personnel turn over can influence repeat clients and also negatively affect future earnings. One important thing to think about is the location of the business. Is it in an extremely trafficked shopping mall, or is it concealed from the highway? Clearly, the more individuals that see the business regularly, the higher the chance to construct a returning client base. A last thought is the general location demographics. Is the business situated in a largely inhabited city, or is it situated on the outside border of town? Exactly how might the regional mean household income impact future revenue potential?