Listing ID: 80935
Popular ethnic restaurant in great location for sale. This product has rapidly grown in popularity over the last several years and margins remain very high.
The menu is simple, but the Seller suggests an avenue for growth would be a strategic expansion of the offerings and is prepared to help a buyer with additional recipes. There is also a fully equipped (and as of yet, unused) and branded food trailer available to purchase at an additional charge.
Locally, the Reno, Sparks, and Carson City area has a small town feel with a big city attitude. The city offers excellent shopping and dining options, robust nightlife offerings, high-performance schools, including a Tier 1 University with over 25,000 students—and is just a half hour from beautiful Lake Tahoe.
From a Business perspective, Northern Nevada is highly regarded as a pro-business, low-tax environment that appeals to a wide range of business and industry. With no personal, corporate, franchise, estate, inheritance, or inventory tax, it’s no wonder that Nevada ranks #7 Most Business-Friendly Tax Climate.
- Asking Price: $385,000
- Cash Flow: $227,318
- Gross Revenue: $405,483
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 2016
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:1,100
- Lot Size:N/A
- Total Number of Employees:6
- Furniture, Fixtures and Equipment:N/A
1,100 sf leased @ $2,198/month + $1,400 CAM – 5-Year Lease Option
This business does very well among the competitors, filling a niche cuisine market that is growing in popularity in the U.S. Owner has specialized training and will help the buyer to create more menu items.
New owners could reach a wider audience by doing more advertising and enhancing their social media presence. The food trailer will allow new owners to participate in the numerous outdoor events that Northern Nevada/Reno/Washoe County are known for. App-based delivery services (DoorDash/ Uber Eats/ Grub Hub etc.) offer a HUGE opportunity for growth.
The company was founded in 2016, making the business 6 years old.
The company has 6 employees and is situated in a building with estimated square footage of 1,100 sq ft.
The building is leased by the business for $2,198 per Month
Why is the Current Owner Selling The Business?
There are all kinds of reasons people choose to sell companies. However, the genuine reason vs the one they tell you may be 2 completely different things. For instance, they may state "I have a lot of various responsibilities" or "I am retiring". For many sellers, these reasons stand. But also, for some, these may simply be excuses to attempt to hide the reality of changing demographics, increased competition, current reduction in earnings, or an array of other reasons. This is why it is extremely essential that you not depend totally on a vendor's word, but instead, make use of the vendor's solution in conjunction with your general due diligence. This will repaint a much more reasonable image of the business's existing scenario.
Existing Debts and Future Obligations
If the current company is in debt, which lots of companies are, then you will certainly have reason to consider this when valuating/preparing your offer. Many businesses take out loans with the purpose of covering things like supplies, payroll, accounts payable, and so on. Bear in mind that sometimes this can imply that earnings margins are too thin. Many companies come under a revolving door of taking on debt as a way to pay back various other loans. In addition to debts, there may additionally be future commitments to think about. There may be an outstanding lease on equipment or the building where the business resides. The business might have existing agreements with suppliers that need to be met or might result in fines if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do companies in the area draw in new consumers? Most times, businesses have repeat consumers, which develop the core of their daily revenues. Particular factors such as new competitors sprouting up around the location, road construction, as well as personnel turnover can impact repeat clients as well as negatively influence future earnings. One crucial point to take into consideration is the location of the business. Is it in a very trafficked shopping center, or is it concealed from the highway? Obviously, the more people that see the business on a regular basis, the greater the possibility to construct a returning client base. A last idea is the general area demographics. Is the business placed in a largely populated city, or is it situated on the outskirts of town? Exactly how might the regional typical house income effect future revenue prospects?