Listing ID: 84175
Tremendous opportunity to acquire a landmark restaurant in Plymouth County. Seating for 190 patrons spread through two floors , this cozy restaurant has one of the most unique bar settings on the South Shore. Unique build out with high ceilings lends this location to numerous uses including a brew pub or distillery. 5,000 +/- Sq. Ft , all alcohol liquor license, lottery license and outdoor seating “bier garden” that can seat 66. Ample on site parking, municipal water/sewer. The business serves American style pub food with a focus on comfort food and craft beer. It is known by many as the “Cheers” in this area. Ownership is selling to retire.
Rent: $4,125/ mo + NNN (10 year lease available) or Purchase real estate for an additional $659,000
- Asking Price: $299,000
- Cash Flow: $116,894
- Gross Revenue: $950,000
- EBITDA: $29,290
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 1999
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:5,000
- Lot Size:N/A
- Total Number of Employees:20
- Furniture, Fixtures and Equipment:N/A
5000 SF ample parking
The business was founded in 1999, making the business 23 years old.
The business has 20 employees and is located in a building with estimated square footage of 5,000 sq ft.
The real estate is leased by the business for $4,125 per Month
Why is the Current Owner Selling The Business?
There are all kinds of reasons why individuals choose to sell operating businesses. Nevertheless, the genuine reason and the one they say to you may be 2 absolutely different things. As an example, they may claim "I have a lot of various commitments" or "I am retiring". For numerous sellers, these factors are valid. But, for some, these might just be reasons to try to conceal the reality of changing demographics, increased competitors, current reduction in profits, or a range of various other reasons. This is why it is really vital that you not count entirely on a vendor's word, but instead, utilize the vendor's answer in conjunction with your overall due diligence. This will paint a more sensible picture of the business's current scenario.
Existing Debts and Future Obligations
If the current company is in debt, which lots of companies are, then you will certainly need to consider this when valuating/preparing your deal. Lots of operating businesses borrow money with the purpose of covering items like stock, payroll, accounts payable, etc. Bear in mind that in some cases this can imply that revenue margins are too small. Lots of companies fall into a revolving door of taking on debt as a way to pay back various other loans. In addition to debts, there may additionally be future obligations to consider. There may be an outstanding lease on tools or the building where the business resides. The business may have existing contracts with suppliers that must be fulfilled or might result in charges if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Just how do operating businesses in the location attract brand-new customers? Many times, businesses have repeat consumers, which create the core of their day-to-day revenues. Particular elements such as brand-new competitors sprouting up around the area, road building, and staff turn over can impact repeat clients and adversely impact future profits. One essential thing to take into consideration is the area of the business. Is it in a very trafficked shopping center, or is it hidden from the main road? Undoubtedly, the more people that see the business regularly, the greater the opportunity to build a returning client base. A last idea is the basic area demographics. Is the business placed in a densely inhabited city, or is it situated on the edge of town? How might the regional mean family earnings effect future earnings prospects?