Listing ID: 80908
You will be hard pressed to find a catering business with a better reputation. They have won multiple times “The Best of Treasure Valley” and “Idaho Best Awards.” Business is VERY strong with 2021 being a record year for this nearly 60 year old company. With being in business so long this company has seen and done it all. Customers can rest easy knowing that the recipes used are the best, with best sourced ingredients and the systems in place to ensure that events run seamlessly by a professionally trained staff. Whether it is a backyard bbq, special event, wedding or corporate party this catering company can handle every type of event.
- Asking Price: $450,000
- Cash Flow: $384,310
- Gross Revenue: $1,023,039
- EBITDA: N/A
- FF&E: $250,000
- Inventory: N/A
- Inventory Included: N/A
- Established: 1963
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:5
- Furniture, Fixtures and Equipment:N/A
3900sqft space which includes the dining room and kitchen. Lease is for 5 yrs at $4713 p/month NNN.
Owner is willing to assist with transition and which can be determined between he and the Buyer.
The owners have a young family that are getting busier as they grow up.
There are many catering companies in the Valley with variety of food types. However, you will be hard pressed to find one that has been in the in existence this long with the brand recognition.
Growth opportunity is here. Systems and policies are in place, along with other components of the business that are ready to maximize their potential.
The company was established in 1963, making the business 59 years old.
Why is the Current Owner Selling The Business?
There are all sorts of reasons individuals decide to sell businesses. However, the real reason and the one they tell you may be 2 totally different things. For instance, they may state "I have way too many other obligations" or "I am retiring". For lots of sellers, these reasons stand. However, for some, these may just be excuses to try to conceal the reality of altering demographics, increased competition, current decrease in incomes, or a range of other reasons. This is why it is very essential that you not count completely on a vendor's word, however rather, utilize the vendor's response combined with your general due diligence. This will repaint a much more practical picture of the business's existing circumstance.
Existing Debts and Future Obligations
If the current company is in debt, which numerous businesses are, then you will have reason to consider this when valuating/preparing your deal. Numerous businesses borrow money in order to cover points like stock, payroll, accounts payable, etc. Remember that sometimes this can imply that revenue margins are too small. Numerous companies come under a revolving door of taking loans as a way to pay back various other loans. In addition to debts, there may also be future commitments to think about. There might be an outstanding lease on tools or the building where the business resides. The business may have existing agreements with suppliers that must be satisfied or might lead to fines if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Just how do businesses in the area attract new consumers? Many times, operating businesses have repeat customers, which create the core of their everyday revenues. Specific aspects such as new competition sprouting up around the location, roadway building and construction, and personnel turn over can influence repeat consumers as well as adversely impact future incomes. One essential point to consider is the area of the business. Is it in a highly trafficked shopping mall, or is it concealed from the highway? Undoubtedly, the more people that see the business regularly, the higher the chance to develop a returning consumer base. A final thought is the general location demographics. Is the business situated in a densely inhabited city, or is it situated on the outskirts of town? How might the local typical house income influence future revenue prospects?