Listing ID: 83390
You could own this highly successful well managed restaurant/bar in picturesque coastal Maine. Offering classic Downeast favorites, like lobsters, steamers, mussels, crab cakes, chowder, steaks & blueberry pie as well as additional more creative fair (fish tacos, etc.). Boasting locally sourced ingredients in creative dishes and all of the Maine classics bringing customers back year after year! With a full bar including many Maine Craft Beer options and inside and beautiful outside dining (with water views), you will capture the cocktail/appetizer crowds as well. Serving thousands each summer. Currently open Mid-June to October.
Price: $ 600,000
Down Payment: $0 Negotiable
Sellers Discretionary Earnings: $ 125,000
Total Sales: $ 975,000
Location: Coastal Maine, North of Portland
Inventory: $ 4,000
Year Established: 25+
Reason for Selling: Looking to retire
- Asking Price: $600,000
- Cash Flow: N/A
- Gross Revenue: N/A
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: N/A
Why is the Current Owner Selling The Business?
There are all kinds of reasons individuals decide to sell operating businesses. Nevertheless, the genuine reason and the one they say to you might be 2 totally different things. For instance, they may claim "I have a lot of other responsibilities" or "I am retiring". For lots of sellers, these factors stand. But also, for some, these might simply be justifications to attempt to hide the reality of altering demographics, increased competition, recent decrease in incomes, or a variety of various other factors. This is why it is very important that you not count entirely on a seller's word, however rather, make use of the vendor's response together with your general due diligence. This will paint a much more reasonable picture of the business's existing scenario.
Existing Debts and Future Obligations
If the existing entity is in debt, which numerous companies are, then you will need to consider this when valuating/preparing your offer. Many operating businesses take out loans so as to cover items such as stock, payroll, accounts payable, etc. Bear in mind that in some cases this can mean that profit margins are too tight. Lots of businesses come under 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 take into consideration. There may 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 met or may lead to charges if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do operating businesses in the area attract new customers? Often times, operating businesses have repeat customers, which develop the core of their everyday earnings. Particular aspects such as brand-new competition sprouting up around the location, road building and construction, and staff turnover can influence repeat clients and also negatively affect future profits. One essential thing to take into consideration is the placement of the business. Is it in an extremely trafficked shopping center, or is it hidden from the main road? Clearly, the more people that see the business often, the better the opportunity to develop a returning customer 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? Exactly how might the local mean house earnings effect future income prospects?