Listing ID: 83974
308 Brass Rail Bar & Grill is a local dining establishment generating approximately $600K in annual sales. The establishment offers a full bar, dining room, banquet room, and additional rental income from other tenants in the building. Seating capacity for 308 Brass Rail & Grill is approximately 200 patrons. Current owners have built a profitable business through their dedication to its success. Live entertainment is offered most Thu/Fri/Sat/Sun. This is a turn-key business for someone wanting to get into the business. For sale is the operating business, MLCC liquor license, Lottery License, fixtures, equipment, intellectual property, good will, and real estate. Financials will be released to qualified purchasers with a confidentiality agreement.
- Asking Price: $395,000
- Cash Flow: N/A
- Gross Revenue: N/A
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 1947
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:N/A
- Furniture, Fixtures and Equipment:N/A
The company was started in 1947, making the business 75 years old.
Why is the Current Owner Selling The Business?
There are all sorts of reasons individuals resolve to sell companies. However, the real reason vs the one they tell you may be 2 completely different things. For instance, they might state "I have way too many other commitments" or "I am retiring". For many sellers, these factors stand. However, for some, these might just be excuses to try to conceal the reality of changing demographics, increased competition, current decrease in incomes, or a range of various other reasons. This is why it is really important that you not count entirely on a vendor's word, but rather, make use of the seller's response combined with your overall due diligence. This will paint a much more sensible image of the business's current scenario.
Existing Debts and Future Obligations
If the existing entity is in debt, which numerous companies are, then you will have reason to consider this when valuating/preparing your deal. Lots of businesses take out loans so as to cover things such as inventory, payroll, accounts payable, and so on. Bear in mind that sometimes this can suggest that earnings margins are too tight. Many companies fall under a revolving door of taking on debt as a way to pay back other loans. In addition to debts, there may additionally be future commitments to think about. There may be an outstanding lease on tools or the structure where the business resides. The business may have existing agreements with vendors that have to be fulfilled or may cause penalties if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Just how do businesses in the location attract brand-new customers? Often times, operating businesses have repeat customers, which form the core of their everyday earnings. Particular factors such as new competitors sprouting up around the location, roadway building, and also employee turnover can affect repeat clients and negatively impact future revenues. One vital point to think about is the area of the business. Is it in a highly trafficked shopping center, or is it hidden from the main road? Undoubtedly, the more people that see the business regularly, the greater the possibility to build a returning client base. A final idea is the basic area demographics. Is the business placed in a largely populated city, or is it situated on the edge of town? How might the neighborhood typical family income influence future earnings prospects?