Listing ID: 84007
2021 – Year end Update… Despite being take out only in January, and then at 50% capacity for the first half of the year, this business has come back with solid numbers in 2021. Showing us that quality businesses bounce back. This restaurant is now fully staffed and well positioned for a great 2022.
One of a kind opportunity. Step right into this profitable well-established restaurant. All the ingredients are here, great location, long time loyal staff, efficient systems and a proven track record of success make this turnkey for someone with a desire to be in or expand operations in the restaurant industry. This is the kind of opportunity where a hard charging go getter can do extremely well.
Fresh, made from scratch dishes are what keeps the discriminating clientele returning. Set up by a Professional Chef, this restaurant runs efficiently and profitably serving breakfast and lunch for decades. It’s time for a new owner to take over and continue the tradition. Add a diner menu, catering, food truck, the options for growth are endless.
- Asking Price: $275,000
- Cash Flow: $175,476
- Gross Revenue: $836,339
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: Yes
- Established: 1993
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:3,000
- Lot Size:N/A
- Total Number of Employees:11
- Furniture, Fixtures and Equipment:N/A
Modern kitchen and fixtures, in a high traffic area of town, ideally positioned in a retail strip center with high visibility. This restaurant has great natural light with an excellent layout and seating for 92.
Highly organized Seller will provide training to help the purchaser take over providing a smooth transition while learning the business and its operating activities. Consistency and continuity are the seller’s number one priority.
Seller wants to retire.
Shrinking competition in the restaurant business overall. The upscale breakfast, lunch crowd is expanding. Beside core customers, this location supports many diners who choose among the variety of options in the local market.
There is room to grow. Adding a dinner menu, food trucks, ghost kitchens and off-site catering are directions a new owner could choose to expand that have great potential.
The company was established in 1993, making the business 29 years old.
The business has 11 employees and is located in a building with disclosed square footage of 3,000 sq ft.
The real estate is leased by the company for $0.00
Why is the Current Owner Selling The Business?
There are all types of reasons why individuals resolve to sell businesses. Nonetheless, the true reason vs the one they say to you may be 2 absolutely different things. As an example, they might state "I have a lot of other obligations" or "I am retiring". For lots of sellers, these reasons are valid. But also, for some, these may simply be excuses to attempt to conceal the reality of transforming demographics, increased competition, recent decrease in earnings, or an array of various other factors. This is why it is very important that you not count completely on a vendor's word, but rather, make use of the vendor's response together with your overall due diligence. This will repaint a more reasonable picture of the business's existing scenario.
Existing Debts and Future Obligations
If the current business is in debt, which numerous businesses are, then you will need to consider this when valuating/preparing your deal. Numerous businesses finance loans with the purpose of covering things like supplies, payroll, accounts payable, and so on. Bear in mind that occasionally this can indicate that earnings margins are too small. Many companies fall 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 think about. There may be an outstanding lease on tools or the building where the business resides. The business might have existing agreements with vendors that need to be satisfied or may lead to fines if terminated early.
Understanding the Customer Base, Competition and Area Demographics
How do operating businesses in the area draw in new clients? Often times, businesses have repeat clients, which develop the core of their everyday revenues. Certain factors such as new competition sprouting up around the location, roadway building and construction, and personnel turn over can impact repeat clients as well as adversely affect future profits. One vital thing to think about is the location of the business. Is it in an extremely trafficked shopping mall, or is it concealed from the main road? Undoubtedly, the more individuals that see the business on a regular basis, the higher the opportunity to develop a returning consumer base. A final idea is the basic location demographics. Is the business located in a densely populated city, or is it situated on the edge of town? How might the neighborhood typical family earnings effect future revenue potential?