Listing ID: 81223
Business Overview
Arguably one of the best restaurants and enviable locations in Reno. Amazing atmosphere, service and quality.
Impressive Trip Advisor reviews as one of the very best in the region.
Extremely profitable! 2021 financial projections are reflected.
Great employees and extremely loyal clientele.
Financial
- Asking Price: $975,000
- Cash Flow: $429,867
- Gross Revenue: $1,991,000
- EBITDA: N/A
- FF&E: $475,000
- Inventory: $30,000
- Inventory Included: Yes
- Established: 1998
Detailed Information
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:3,006
- Lot Size:N/A
- Total Number of Employees:26
- Furniture, Fixtures and Equipment:N/A
Upscale design and decor. Outdoor patio dining. One-of-a-kind bar.
Seller will help a buyer transition.
Relocation
Extremely healthy market conditions and potential for growth. New high dollar residential developments and a diverse economy suggest tremendous opportunity for a buyer.
Add Saturday and Sunday brunch along with private events and catering.
Additional Info
The business was founded in 1998, making the business 24 years old.
The sale shall include inventory valued at $30,000, which is included in the asking price.
The business has 26 employees and is located in a building with approx. square footage of 3,006 sq ft.
The building is leased by the business for $7,006 per Month
Why is the Current Owner Selling The Business?
There are all sorts of reasons people decide to sell companies. However, the real reason and the one they say to you might be 2 absolutely different things. As an example, they might claim "I have a lot of other responsibilities" or "I am retiring". For numerous sellers, these factors are valid. But, for some, these may simply be reasons to try to hide the reality of transforming demographics, increased competitors, recent reduction in revenues, or an array of various other factors. This is why it is very vital that you not depend absolutely on a vendor's word, however instead, use the seller's solution in conjunction with your overall due diligence. This will paint an extra sensible picture of the business's present circumstance.
Existing Debts and Future Obligations
If the current company is in debt, which lots of businesses are, then you will have reason to consider this when valuating/preparing your offer. Lots of businesses finance loans so as to cover items such as inventory, payroll, accounts payable, etc. Bear in mind that occasionally this can suggest that profit margins are too tight. Numerous companies fall into a revolving door of taking on debt as a way to pay back other loans. In addition to debts, there may likewise be future commitments to consider. There might be an outstanding lease on equipment or the building where the business resides. The business might have existing contracts with suppliers that have to be fulfilled or might cause penalties if canceled early.
Understanding the Customer Base, Competition and Area Demographics
How do businesses in the location attract new consumers? Many times, operating businesses have repeat customers, which form the core of their daily profits. Particular elements such as brand-new competitors growing up around the location, roadway construction, and personnel turnover can influence repeat consumers and also negatively impact future profits. One important thing to think about is the placement of the business. Is it in a highly trafficked shopping mall, or is it hidden from the main road? Undoubtedly, the more individuals that see the business regularly, the better the chance to construct a returning client base. A final idea is the general area demographics. Is the business situated in a densely inhabited city, or is it located on the edge of town? How might the regional average house income influence future earnings potential?
