Listing ID: 81000
Upscale location in midtown. Well known for fresh food and excellent service, you could take over ownership of this busy place and keep the locals and tourists happy. Business has a reliable staff of servers and cooks. Key employees could be trained to take on additional responsibilities. Restaurant has a gaming bar.
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: $730,000
- Cash Flow: $286,001
- Gross Revenue: N/A
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 2015
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:3,700
- Lot Size:N/A
- Total Number of Employees:19
- Furniture, Fixtures and Equipment:N/A
3,700 sf leased, $8,874 rent + $1,650 CAM
30 days open to continuing management for up to 6 months
Moving on to new ventures
Restaurant is located in an entertainment district with attractive outdoor dining options. Easy walk to casinos and entertainment venues. Good parking nearby.
This restaurant is just getting started and considering performance in 2020 and 2021, growth is expected.
The company was established in 2015, making the business 7 years old.
The business has 19 employees and is situated in a building with estimated square footage of 3,700 sq ft.
The property is leased by the company for $8,874 per Month
Why is the Current Owner Selling The Business?
There are all types of reasons why people resolve to sell operating businesses. However, the true factor and the one they tell you might be 2 totally different things. For instance, they might say "I have too many other responsibilities" or "I am retiring". For many sellers, these factors stand. But also, for some, these might simply be reasons to try to hide the reality of changing demographics, increased competition, recent decrease in incomes, or an array of other factors. This is why it is extremely important that you not rely completely on a seller's word, but instead, use the vendor's response along with your overall due diligence. This will repaint a more realistic picture of the business's existing circumstance.
Existing Debts and Future Obligations
If the current company is in debt, which many businesses are, then you will need to consider this when valuating/preparing your offer. Numerous companies finance loans so as to cover points such as inventory, payroll, accounts payable, and so on. Remember that occasionally this can imply that revenue margins are too tight. Lots of organisations come under a revolving door of taking loans as a way to pay back other loans. In addition to debts, there may additionally be future commitments to take into consideration. There may be an outstanding lease on equipment or the structure where the business resides. The business may have existing agreements with suppliers that should be met or might lead to fines if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do businesses in the area bring in brand-new customers? Often times, companies have repeat consumers, which create the core of their daily profits. Specific elements such as new competitors sprouting up around the location, roadway building and construction, and also employee turnover can influence repeat customers and adversely impact future incomes. One important thing to consider is the placement of the business. Is it in a very trafficked shopping center, or is it concealed from the main road? Clearly, the more individuals that see the business regularly, the higher the opportunity to construct a returning client base. A last thought is the basic location demographics. Is the business placed in a largely inhabited city, or is it located on the outskirts of town? Just how might the local mean family income impact future earnings potential?