Listing ID: 84003
Priced to sell… INCLUDES REAL ESTATE – JB’s Whiskey Old Style Grill, a very successful bar/restaurant, is now available for sale. Located within the City of Springfield, it is situated near the entrance of Fort Custer Industrial Park and the Battle Creek Executive Airport. This restaurant has a dedicated following and is loved by locals and patrons. People are known to travel long distances to visit and attend hosted comedy shows, motorcycle/car shows, non-profit events, and concerts with such bands as, HairMania, Judas Priestess, and Fool House.
The property consists of 3.52 total acres with +100 parking spaces. The 7,776 SF building is divided into multiple bars and private rooms for hosting parties and events. The property’s full commercial kitchen also includes a drive-thru window. The property also features one of Battle Creek’s premier outdoor music venues, which includes an extensive patio area, with a custom built, fully contained stage, multiple outdoor service bars, and a large, covered seating area. The business, real estate, all restaurant FF&E (list available upon request), and liquor license are being offered in the sale.
- Asking Price: $1,250,000
- Cash Flow: N/A
- Gross Revenue: $1,400,000
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: Yes
- Established: 2016
- Property Owned or Leased:Own
- Property Included:N/A
- Building Square Footage:7,776
- Lot Size:N/A
- Total Number of Employees:N/A
- Furniture, Fixtures and Equipment:N/A
The business was founded in 2016, making the business 6 years old.
Why is the Current Owner Selling The Business?
There are all kinds of reasons individuals decide to sell operating businesses. However, the real reason and the one they tell you might be 2 totally different things. As an example, they may claim "I have too many various responsibilities" or "I am retiring". For numerous sellers, these reasons stand. However, for some, these might simply be justifications to try to conceal the reality of transforming demographics, increased competition, recent decrease in incomes, or a range of various other factors. This is why it is very essential that you not depend totally on a seller's word, however instead, make use of the seller's answer together with your total due diligence. This will paint a much more reasonable image of the business's present scenario.
Existing Debts and Future Obligations
If the current entity is in debt, which numerous companies are, then you will need to consider this when valuating/preparing your deal. Numerous companies finance loans so as to cover points like stock, payroll, accounts payable, and so on. Keep in mind that in some cases this can imply that earnings margins are too tight. Numerous businesses come under a revolving door of taking on debt as a way to pay back other loans. In addition to debts, there may also be future obligations to think about. There might be an outstanding lease on equipment or the building where the business resides. The business may have existing contracts with suppliers that need to be satisfied or might cause penalties if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do companies in the location attract new consumers? Many times, operating businesses have repeat consumers, which create the core of their daily profits. Certain elements such as new competitors sprouting up around the area, road construction, as well as staff turnover can influence repeat consumers and adversely affect future revenues. One essential point to take into consideration is the location of the business. Is it in an extremely trafficked shopping mall, or is it hidden from the highway? Undoubtedly, the more individuals that see the business on a regular basis, the greater the opportunity to build a returning customer base. A final thought is the general location demographics. Is the business located in a densely populated city, or is it located on the outskirts of town? Just how might the local median home income influence future revenue potential?