Listing ID: 81480
4,700 SF is the restaurant portion of the Emporium Building, situated on 0.29 acres of land. There is 2,000 SF of kitchen space in the basement and 1,300 SF of mezzanine dining area.
• Highly recognizable and well-known restaurant on the St. Joseph River in South Bend.
• The business including all furniture, fixtures and equipment as well as lease hold
improvements are for sale.
• Eligible for Riverfront Liquor License.
• The Emporium has the premier location and patio seating along the East Bank Trail of the St. Joseph River with amazing views of the waterfall and river lights.
• Main level, mezzanine, and patio seating for approximately 100+ guests, main level and basement kitchen space.
• Adjacent parking lots with approximately 45 spaces available for customers as well as free street parking.
• Adjacent to the redeveloped Howard Park.
• Buyer will be assigned current lease through 2024 at $9.75 PSF NNN.
- Asking Price: $200,000
- Cash Flow: N/A
- Gross Revenue: N/A
- EBITDA: N/A
- FF&E: $100,000
- Inventory: N/A
- Inventory Included: Yes
- Established: N/A
- Property Owned or Leased:Own
- Property Included:N/A
- Building Square Footage:8,000
- Lot Size:N/A
- Total Number of Employees:N/A
- Furniture, Fixtures and Equipment:N/A
Owners live outside the state and focus on other business.
Why is the Current Owner Selling The Business?
There are all types of reasons why individuals decide to sell operating businesses. Nonetheless, the real reason vs the one they say to you may be 2 completely different things. For instance, they may state "I have too many other responsibilities" or "I am retiring". For many sellers, these factors stand. But, for some, these might just be justifications to try to conceal the reality of altering demographics, increased competition, current reduction in incomes, or an array of various other reasons. This is why it is extremely important that you not count absolutely on a seller's word, however instead, make use of the vendor's response combined with your total due diligence. This will paint a more reasonable picture of the business's present circumstance.
Existing Debts and Future Obligations
If the current business is in debt, which numerous companies are, then you will certainly need to consider this when valuating/preparing your deal. Numerous operating businesses borrow money so as to cover items like supplies, payroll, accounts payable, and so on. Bear in mind that sometimes this can indicate that revenue margins are too small. Numerous businesses fall into a revolving door of taking on debt as a way to pay back various other loans. In addition to debts, there may likewise be future commitments to take into consideration. There might be an outstanding lease on tools or the structure where the business resides. The business may have existing agreements with suppliers that must be satisfied or might lead to fines if terminated early.
Understanding the Customer Base, Competition and Area Demographics
How do operating businesses in the location bring in brand-new clients? Most times, businesses have repeat clients, which develop the core of their daily profits. Particular aspects such as brand-new competition growing up around the location, roadway building, as well as employee turnover can impact repeat customers and also negatively influence future profits. One important point to consider is the area of the business. Is it in an extremely trafficked shopping center, or is it hidden from the highway? Clearly, the more individuals that see the business on a regular basis, the higher the opportunity to construct a returning consumer base. A last idea is the basic location demographics. Is the business placed in a densely populated city, or is it situated on the edge of town? Just how might the neighborhood average house earnings influence future earnings potential?