Listing ID: 82918
Established profitable bar, restaurant and gaming for sale in Highland, Illinois. Gaming alone brings in about $3000 monthly. The establishment includes a full Bar, as well as a restaurant with seating for 200. The building is also for sale by owner and was appraised at $275k over two years ago. Get the building and business for $350k. The business also as 5 games licensed by the state of Illinois. The outside terrace overlooks scenic downtown Highland. The restaurant attracts clientele from the surround rural areas as well as Highland. The facility includes living quarters. Schlafly beer is opening a brewpub within blocks that should drive additional business to the area. Current owner has been in business over 30 years and is retiring! For additional information please contact listing agent Bruce Thompson at 314-614-6930. For additional information please contact listing agent Bruce Thompson at 314-614-6930.
- Asking Price: $75,000
- Cash Flow: $135,981
- Gross Revenue: $295,000
- EBITDA: N/A
- FF&E: $21,638
- Inventory: $3,500
- Inventory Included: Yes
- Established: 1987
- Property Owned or Leased:Own
- Property Included:N/A
- Building Square Footage:2,000
- Lot Size:N/A
- Total Number of Employees:7
- Furniture, Fixtures and Equipment:N/A
This is an owned location of 2,000 square. Seller is active in the business with 3 FT employees and 4 PT employees. Hours of operation 11:00A - 1:30P, 5:00 PM - 8:00 PM (MON - THUR); 11:00A - 1:30P, 5:00 PM - 9:00 PM (FRI - SAT). $3,500 in Inventory and $21,683 in FF&E included in Asking Price. Food, Liquor and Gaming Licenses Required.
The business was established in 1987, making the business 35 years old.
The deal does include inventory valued at $3,500, which is included in the requested price.
The business has 7 employees and resides in a building with estimated square footage of 2,000 sq ft.
Why is the Current Owner Selling The Business?
There are all kinds of reasons why people choose to sell businesses. Nevertheless, the real factor vs the one they say to you may be 2 absolutely different things. For instance, they may state "I have too many various obligations" or "I am retiring". For numerous sellers, these reasons are valid. But also, for some, these might simply be justifications to attempt to conceal the reality of transforming demographics, increased competition, recent reduction in revenues, or an array of other factors. This is why it is extremely essential that you not depend totally on a seller's word, yet rather, use the vendor's response in conjunction with your total due diligence. This will paint an extra reasonable image of the business's current circumstance.
Existing Debts and Future Obligations
If the existing business is in debt, which many companies are, then you will need to consider this when valuating/preparing your deal. Numerous businesses finance loans with the purpose of covering points such as supplies, payroll, accounts payable, so on and so forth. Remember that occasionally this can suggest that profit margins are too thin. Lots of businesses come under a revolving door of taking on debt as a way to pay back various 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 building where the business resides. The business may have existing contracts with vendors that must be met or might result in charges if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do businesses in the area attract new consumers? Often times, businesses have repeat clients, which form the core of their daily revenues. Specific aspects such as brand-new competition sprouting up around the area, roadway building, and staff turnover can affect repeat clients and also negatively influence future revenues. One essential thing to take into consideration is the placement of the business. Is it in a very trafficked shopping mall, or is it hidden from the highway? Undoubtedly, the more people that see the business on a regular basis, the better the chance to develop a returning client base. A last idea is the general area demographics. Is the business placed in a largely inhabited city, or is it located on the outside border of town? Exactly how might the local mean family earnings impact future earnings potential?