Listing ID: 83995
Business Overview
Springbrook Inn. Fine Dining Restaurant & Frog Tiki Bar. The Inn offers 7 luxury rooms with king size beds, fireplaces, hot tubs and an amazing atmosphere. There is also an on premise casual, fine dining restaurant and an outdoor all-year-round Tiki bar, which is a gathering place for local professionals and adults. The Inn and Tiki Bar rest on 5 beautiful, wooded acres of pines and offers lovely perennial gardens, a beautiful koi fish pond with a waterfall and gazebo. The ultimate luxury Inn is located near Houghton Lake, Michigan’s largest inland lake, Higgins Lake and Lake St. Helen. A very popular location for a weekend, for the travelers looking for a special place to make memories, a wonderful location for a wonderful evening meal or a night on the town at the famous Frog Tiki Bar. Strong financials available. 7,500 square feet is the main buildings only and does not include tiki bar, pavilion, and miscellaneous other structures.
Financial
- Asking Price: $999,000
- 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
Inn, full restaurant, tiki bar and beautifully landscaped grounds.
Why is the Current Owner Selling The Business?
There are all types of reasons people choose to sell operating businesses. However, the genuine factor vs the one they say to you may be 2 absolutely different things. As an example, they may state "I have a lot of various commitments" or "I am retiring". For lots of sellers, these reasons stand. However, for some, these may just be reasons to attempt to hide the reality of altering demographics, increased competition, recent decrease in earnings, or a variety of various other factors. This is why it is really important that you not count absolutely on a seller's word, but instead, utilize the vendor's answer in conjunction with your overall due diligence. This will paint a more practical picture of the business's existing situation.
Existing Debts and Future Obligations
If the existing entity is in debt, which numerous companies are, then you will certainly have reason to consider this when valuating/preparing your deal. Many operating businesses borrow money with the purpose of covering things such as stock, payroll, accounts payable, etc. Remember that sometimes this can suggest that earnings margins are too tight. Many businesses come under a revolving door of taking loans as a way to pay back other loans. Along with debts, there may additionally be future obligations to take into consideration. There might be an outstanding lease on tools or the structure where the business resides. The business might have existing agreements with suppliers that need to be met or might lead to charges if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do businesses in the area draw in new clients? Most times, operating businesses have repeat clients, which create the core of their daily earnings. Specific variables such as brand-new competition growing up around the area, road construction, and also employee turn over can impact repeat clients and also adversely influence future earnings. One important thing to take into consideration is the area of the business. Is it in an extremely trafficked shopping mall, or is it hidden from the main road? Undoubtedly, the more individuals that see the business on a regular basis, the better the possibility to construct a returning customer base. A final thought is the general area demographics. Is the business situated in a largely inhabited city, or is it situated on the outskirts of town? How might the neighborhood typical house income effect future earnings potential?
