Listing ID: 83481
This very popular takeout restaurant emphasizes high-quality, fresh ingredients. The commitment to quality has been rewarded with an extremely loyal community following. Customers rave about the delicious food and outstanding customer service.
The new owner(s) will benefit from the following:
• Strong local following
• Diverse menu offerings that inspire local customers to return multiple times per week.
• Turnkey business featuring recently renovated space with state-of-the-art equipment.
• Highly efficient and low cost.
• Seasoned, professional personnel who prioritize customer service.
- Asking Price: $289,000
- Cash Flow: $90,300
- Gross Revenue: $550,600
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: N/A
- Property Owned or Leased:Own
- Property Included:N/A
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:7
- Furniture, Fixtures and Equipment:N/A
Recently renovated location helped prioritize efficiency and increase the quality of the product.
The current owner wants the business to be a success for the new owner, its employees, and customers. As such is willing to assist in the training and transition of the business.
Owner is moving on to other business opportunities.
The business has 7 employees and is located in a building with approx. square footage of N/A sq ft.
Why is the Current Owner Selling The Business?
There are all kinds of reasons individuals resolve to sell businesses. Nonetheless, the true factor and the one they tell you may be 2 entirely different things. For instance, they might claim "I have too many other obligations" or "I am retiring". For many sellers, these reasons stand. But also, for some, these may just be excuses to try to conceal the reality of altering demographics, increased competitors, recent decrease in revenues, or a variety of various other reasons. This is why it is really essential that you not count completely on a seller's word, but rather, make use of the vendor's answer along with your total due diligence. This will repaint an extra realistic image of the business's present situation.
Existing Debts and Future Obligations
If the existing business is in debt, which numerous companies are, then you will need to consider this when valuating/preparing your deal. Many companies borrow money so as to cover items like stock, payroll, accounts payable, so on and so forth. Keep in mind that occasionally this can suggest that profit margins are too thin. Numerous organisations fall into a revolving door of taking loans as a way to pay back other loans. In addition to debts, there may additionally be future commitments to take into consideration. There might be an outstanding lease on equipment or the structure where the business resides. The business may have existing contracts with vendors that must be met or may cause fines if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Just how do operating businesses in the area draw in new clients? Often times, companies have repeat customers, which create the core of their everyday earnings. Particular factors such as brand-new competitors sprouting up around the area, roadway building, and staff turnover can impact repeat consumers and negatively affect future earnings. One essential thing to consider is the placement of the business. Is it in an extremely trafficked shopping mall, or is it hidden from the main road? Certainly, the more people that see the business on a regular basis, the greater the chance to build a returning consumer base. A last thought is the basic location demographics. Is the business located in a densely populated city, or is it situated on the outskirts of town? Exactly how might the local median family earnings influence future earnings potential?