Listing ID: 82599
This is THE spot to meet up after a day on the mountain in a recently updated relaxed atmosphere. The premises have been a bar and restaurant for more than 3 decades and have the reputation and location to continue thriving. The business is offered as a turnkey operation with few competitors, fully licensed with POS and accounting systems, menus, and experienced long-term crew. New ownership will enjoy all the benefits of a hands-on owner or an investor, allowing current staff to continue day-to-day management if desired. Licenses include the ability to serve off-site public or private events which have enabled revenue, pre-Pandemic, to gross over $1.2MM annually.
- Asking Price: $1,145,000
- Cash Flow: $112,317
- Gross Revenue: $661,053
- EBITDA: N/A
- FF&E: $162,000
- Inventory: $43,761
- Inventory Included: Yes
- Established: 2007
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:2
- Furniture, Fixtures and Equipment:N/A
The operations feature 1,600 sq. ft. of a mixed dining/bar area surrounding an entertainment stage with booths and open seating and standing room for over 100 patrons, including space with 6 gaming machines. The fixtures are modern, warm, and welcoming, all in excellent condition. Included with the price is a Resort Retail All-beverage Liquor License with catering endorsement. The triple-net lease takes care of the bathrooms, exterior plowing and common area cleaning.
Will train for 4 weeks @ $5,500. The Listed Price includes all licensing for a full-scale bar with catering, restaurant, casino and liquor store which currently serves handcrafted menu and full selection of cocktails, craft brews and wine. Off-site bar service allows the revenue to continue to flow from public and private off-site events. A solid management team is in place along with long-time supplier relationships and recipes for continued success. The included Resort Retail All-Beverage Liquor License has 6 of a possible 20 gaming machine permits in the resort area.
Owners want to start a new phase in their lives & pass on a successful business.
Competition is moderate for a resort community. With little commercial space available, this business is one of a small number of locally-owned establishments setting it apart from the corporate operations. The resort is becoming known as a year-round destination on top of its winter sports reputation.
The business is recovering nicely from the 2020 Pandemic and will bounce back to normal revenue and profits this year. The potential for growth will be obvious after a brief tour of the region. The resort area is transitioning to a year-round recreation area, which will allow the business to leverage its assets and central location to greater effect. Catering services for special events is a recent success.
The company was founded in 2007, making the business 15 years old.
The transaction will include inventory valued at $43,761, which is included in the asking price.
Why is the Current Owner Selling The Business?
There are all types of reasons why individuals decide to sell companies. However, the true factor and the one they tell you might be 2 entirely different things. For instance, they might claim "I have way too many various commitments" or "I am retiring". For lots of sellers, these factors stand. But also, for some, these may simply be reasons to attempt to conceal the reality of transforming demographics, increased competitors, recent decrease in incomes, or a range of other reasons. This is why it is really crucial that you not count entirely on a vendor's word, but instead, use the seller's response along with your general due diligence. This will repaint a more realistic image of the business's present circumstance.
Existing Debts and Future Obligations
If the current entity is in debt, which lots of companies are, then you will certainly need to consider this when valuating/preparing your deal. Many businesses borrow money with the purpose of covering things like stock, payroll, accounts payable, so on and so forth. Bear in mind that occasionally this can imply that earnings margins are too small. Many companies fall under a revolving door of taking loans as a way to pay back various other loans. Along with debts, there may also be future obligations to consider. There may be an outstanding lease on equipment or the structure where the business resides. The business might have existing agreements with suppliers that have to be met or may cause penalties if terminated early.
Understanding the Customer Base, Competition and Area Demographics
How do operating businesses in the location draw in new customers? Most times, businesses have repeat customers, which form the core of their day-to-day earnings. Particular aspects such as new competition growing up around the location, road building and construction, as well as personnel turnover can impact repeat customers and also negatively affect future revenues. One crucial thing to consider is the area of the business. Is it in a very trafficked shopping mall, or is it concealed from the main road? Obviously, the more people that see the business on a regular basis, the better the chance to build a returning client base. A final thought is the general area demographics. Is the business placed in a largely populated city, or is it situated on the outside border of town? Just how might the local median family earnings impact future revenue prospects?