Listing ID: 81591
Established, profitable and award-winning Escape Room Complex (two separate downtown Chicago locations with six different games) is ready tor its next owner.
Re-opened for business with safety and health in mind, establishment is ready to continue its well-established legacy and the seller is ready to transition this success to its new owner(s).
* Two physical locations with PPA (Public Place of Amusement) business licenses;
* 6 unique Chicago-themed sets (in two locations) and large lobby space that have all been rented and positively reviewed for photo, film, and music video shoots;
* 3 of its 6 escape rooms are now available to play virtually (via video conferencing) as well as live – allowing for groups to log in from multiple locations/time zones to play at the same time; and,
* Recently introduced custom Murder Mystery event written specifically for the Time Gallery venue, titled 6 Rooms – the event can be produced live or virtually.
Seller financing will be considered for qualified buyer(s) so call for more information!
- Asking Price: $180,000
- Cash Flow: $118,387
- Gross Revenue: $401,373
- EBITDA: N/A
- FF&E: $64,300
- Inventory: $5,000
- Inventory Included: Yes
- Established: N/A
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:6,000
- Lot Size:N/A
- Total Number of Employees:15
- Furniture, Fixtures and Equipment:N/A
The transaction does include inventory valued at $5,000, which is included in the listing price.
The business has 15 employees and is located in a building with approx. square footage of 6,000 sq ft.
The building is leased by the company for $8,428 per Month
Why is the Current Owner Selling The Business?
There are all kinds of reasons why individuals resolve to sell companies. Nonetheless, the genuine factor vs the one they say to you may be 2 totally different things. As an example, they might say "I have way too many various obligations" or "I am retiring". For lots of sellers, these reasons are valid. But also, for some, these might just be reasons to try to hide the reality of changing demographics, increased competitors, recent decrease in incomes, or a range of other factors. This is why it is extremely important that you not depend completely on a seller's word, but rather, make use of the vendor's response along with your overall due diligence. This will paint an extra realistic picture of the business's existing scenario.
Existing Debts and Future Obligations
If the existing company is in debt, which many companies are, then you will have reason to consider this when valuating/preparing your offer. Lots of companies borrow money in order to cover points like inventory, payroll, accounts payable, etc. Bear in mind that occasionally this can suggest that revenue margins are too thin. Numerous companies fall under a revolving door of taking loans as a way to pay back other loans. Along with debts, there may additionally be future obligations to take into consideration. There may be an outstanding lease on equipment or the building where the business resides. The business may have existing agreements with vendors that need to be fulfilled or might cause fines if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do operating businesses in the location draw in brand-new clients? Often times, operating businesses have repeat clients, which form the core of their day-to-day earnings. Certain factors such as new competitors sprouting up around the location, roadway construction, and staff turnover can affect repeat clients and also negatively influence future incomes. One crucial point to think about is the area of the business. Is it in a very trafficked shopping mall, or is it concealed from the main road? Undoubtedly, the more people that see the business regularly, the higher the opportunity to construct a returning consumer base. A final idea is the basic location demographics. Is the business located in a densely inhabited city, or is it situated on the edge of town? How might the local median house income impact future income potential?