Listing ID: 81120
This is a well established restaurant serving authentic Thai food since 2015 in beautiful East Tennessee. It seats 50 people with tables and comfortable booths. The kitchen is very well equipped, designed by a kitchen designer and includes a 36″ griddle, 2-40 lb. fryers, a 6-burner stove/oven and a 60″ double wok station. There is plenty of refrigeration and much more! The rent is very low and the shopping center is well maintained. The recipes are authentic, from Thailand and the seller is willing to train a new owner. It cost about $300,000 to set the restaurant up and now it is turn-key for you at $80,000!
Currently the owner is out of the country and has closed the restaurant. !!Update: Reopening February 10! Due to family issues they need to sell. A working owner should be able to increase sales dramatically. The current owner is there less than 20 hours per week and does not do any local marketing and very little social media so a hands on owner could make a big difference! This is a very good opportunity for a first time owner, couple or family to take over and not worry about set up, construction costs, menus or recipes. Please call, text, email or respond to this ad for more information on this opportunity.
Disclaimer: The information provided here is compiled from information obtained by the Seller(s). The broker or agent makes no representation as to its accuracy or reliability. Buyer(s) should rely upon their own verification & that of their financial &/or legal advisors with regard to this information. Gross revenue and cash flow are projected for 2021 based on current sales.
- Asking Price: $80,000
- Cash Flow: $28,000
- Gross Revenue: $214,000
- EBITDA: N/A
- FF&E: N/A
- Inventory: $5,000
- Inventory Included: N/A
- Established: 2015
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:1,564
- Lot Size:N/A
- Total Number of Employees:3
- Furniture, Fixtures and Equipment:N/A
The restaurant is clean, well maintained and in great condition. The shopping center is busy and has plenty of parking.
Seller will provide recipes and training.
Currently this restaurant is only well established Thai food in the area.
The company was started in 2015, making the business 7 years old.
The deal shall not include inventory valued at $5,000*, which ins't included in the asking price.
The company has 3 employees and is located in a building with approx. square footage of 1,564 sq ft.
The real estate is leased by the company for $1,556 per Month
Why is the Current Owner Selling The Business?
There are all kinds of reasons why people decide to sell companies. Nevertheless, the real reason vs the one they say to you might be 2 absolutely different things. For instance, they may state "I have way too many various commitments" or "I am retiring". For lots of sellers, these factors are valid. However, for some, these may just be excuses to attempt to hide the reality of transforming demographics, increased competitors, recent decrease in earnings, or an array of other reasons. This is why it is extremely vital that you not rely totally on a vendor's word, yet rather, make use of the vendor's response combined with your general due diligence. This will paint a more practical image of the business's existing circumstance.
Existing Debts and Future Obligations
If the current company is in debt, which numerous companies are, then you will certainly have reason to consider this when valuating/preparing your deal. Lots of companies finance loans with the purpose of covering items like stock, payroll, accounts payable, so on and so forth. Keep in mind that in some cases this can suggest that revenue margins are too small. Lots of organisations fall into a revolving door of taking on debt 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 tools or the structure where the business resides. The business may have existing contracts with vendors that have to be satisfied or might result in penalties if terminated early.
Understanding the Customer Base, Competition and Area Demographics
How do businesses in the area bring in brand-new clients? Many times, businesses have repeat customers, which create the core of their everyday earnings. Certain aspects such as brand-new competition sprouting up around the area, roadway construction, as well as personnel turnover can influence repeat customers as well as negatively impact future profits. One essential point to take into consideration is the area of the business. Is it in an extremely trafficked shopping center, or is it concealed from the highway? Undoubtedly, the more people that see the business on a regular basis, the higher the possibility to develop a returning client base. A last idea is the general location demographics. Is the business located in a densely populated city, or is it situated on the outside border of town? Exactly how might the regional average house earnings impact future revenue potential?