Listing ID: 84163
A unique and proven Gastropub concept on the island since 2014 with loyal following, and lines out the door during the summer months.
Warm and inviting pub feel spread over two floors with full bars central to each, and a separate Pizza bar on the 2nd floor. Totally renovated in 2014. Classic interior finishes with wrought iron rails, hardwood floors, dark and light shaded wood bar, tables, ceiling beams, booths, chairs. glass fixtures, brick column supports, and tons of natural light.
The menu is broad enough to satisfy all tourist and local families’ desires from Burgers and Triple Mac & Cheese to more upscale Pan Seared Diver Scallops and fresh local grilled Swordfish steaks. A customer facing Brick oven pizza bar serves a variety of pizzas and wings. Aside from creative island cocktails the restaurant offers and extensive wine collection and huge selection of bottled and draught beers. Great 60/40 food to beverage sales mix
- Asking Price: $359,000
- Cash Flow: $190,500
- Gross Revenue: $1,840,000
- EBITDA: N/A
- FF&E: $150,000
- Inventory: $25,000
- Inventory Included: N/A
- Established: 2014
- 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
4738 SF (Basement 822 SF, 1st Floor 1,958 SF, and 2nd Floor 1,958 SF
Available with sale
Other Business Ventures
Other competitors but very strong following
Grow lunch business
The business was started in 2014, making the business 8 years old.
The sale won't include inventory valued at $25,000*, which ins't included in the asking price.
The property is leased by the company for $18,166.67 per Month
Why is the Current Owner Selling The Business?
There are all sorts of reasons individuals resolve to sell operating businesses. However, the genuine reason and the one they say to you might be 2 entirely different things. As an example, they may say "I have a lot of other responsibilities" or "I am retiring". For lots of sellers, these factors are valid. But, for some, these might simply be justifications to attempt to conceal the reality of transforming demographics, increased competition, current reduction in incomes, or an array of other factors. This is why it is very vital that you not depend entirely on a vendor's word, but instead, use the vendor's response together with your overall due diligence. This will repaint a much more sensible image of the business's current situation.
Existing Debts and Future Obligations
If the existing entity is in debt, which lots of companies are, then you will need to consider this when valuating/preparing your offer. Numerous operating businesses borrow money in order to cover points such as supplies, payroll, accounts payable, etc. Remember that sometimes this can suggest that revenue margins are too tight. Many companies fall under a revolving door of taking on debt as a way to pay back other loans. Along with debts, there may also be future commitments to take into consideration. There may be an outstanding lease on tools or the building where the business resides. The business might have existing agreements with suppliers that have to be fulfilled or may cause charges if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Just how do companies in the area attract brand-new customers? Often times, operating businesses have repeat clients, which create the core of their everyday revenues. Certain factors such as new competition sprouting up around the location, road construction, as well as employee turn over can impact repeat clients and also adversely impact future revenues. One important thing to consider is the area of the business. Is it in a highly trafficked shopping mall, or is it hidden from the main road? Obviously, the more individuals that see the business regularly, the better the possibility to construct a returning client base. A last idea is the general area demographics. Is the business located in a largely inhabited city, or is it located on the outskirts of town? How might the neighborhood average house earnings effect future earnings potential?