Listing ID: 84179
Prime Cape Cod location with excellent foot traffic and abundant direct access parking. Inviting 2200 sq. ft. dining area with seating for 110, a full-service bar and private function room. Well established loyal year around clientele. Friendly relaxing atmosphere. Award winning restaurant voted best seafood five years running, with top Zagat rating. Featuring locally sourced seafood, shellfish, produce & meats and complimented by an extensive wine list. Favorable long-term lease, and seller will train and assist with transition with sale. Financial data provided is from pre-covid operating year.
- Asking Price: $535,000
- Cash Flow: $251,000
- Gross Revenue: $1,600,000
- EBITDA: N/A
- FF&E: $150,000
- Inventory: $25,000
- Inventory Included: N/A
- Established: 2000
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:2,450
- Lot Size:N/A
- Total Number of Employees:30
- Furniture, Fixtures and Equipment:N/A
Inviting 2,200 SF ground floor space with 250 SF private function room that seats 20+ in lower level. Classic new England brick walls with vibrant colorful contemporary local art. Cozy and intimate space with a neighborhood bistro feel.
Available & Negotiable
unique proven concept with loyal following
restaurant could benefit from marketing and social media campaign
The venture was established in 2000, making the business 22 years old.
The deal won't include inventory valued at $25,000*, which ins't included in the suggested price.
The company has 30 employees and is located in a building with disclosed square footage of 2,450 sq ft.
The building is leased by the company for $5,800 per Month
Why is the Current Owner Selling The Business?
There are all kinds of reasons why individuals choose to sell companies. Nevertheless, the real reason and the one they say to you might be 2 entirely different things. As an example, they may claim "I have way too many other commitments" or "I am retiring". For numerous sellers, these reasons are valid. But, for some, these might just be excuses to attempt to conceal the reality of changing demographics, increased competition, current reduction in profits, or a range of other factors. This is why it is very important that you not count absolutely on a vendor's word, yet instead, utilize the seller's response combined with your general due diligence. This will repaint a more sensible image of the business's current situation.
Existing Debts and Future Obligations
If the existing entity is in debt, which many businesses are, then you will have reason to consider this when valuating/preparing your offer. Numerous operating businesses borrow money with the purpose of covering things like inventory, payroll, accounts payable, so on and so forth. Bear in mind that occasionally this can imply that revenue margins are too tight. Lots of companies fall into a revolving door of taking loans as a way to pay back various other loans. Along with debts, there may also be future commitments to think about. There might be an outstanding lease on equipment or the structure where the business resides. The business may have existing agreements with vendors that have to be satisfied or might cause fines if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Just how do businesses in the area draw in brand-new consumers? Many times, businesses have repeat clients, which form the core of their day-to-day earnings. Specific variables such as new competition sprouting up around the area, road building, and also personnel turn over can impact repeat consumers and also adversely impact future earnings. One vital point to consider is the location of the business. Is it in an extremely trafficked shopping center, or is it hidden from the highway? Undoubtedly, the more individuals that see the business regularly, the better the chance to develop a returning consumer base. A final thought is the general location demographics. Is the business placed in a densely populated city, or is it situated on the edge of town? Exactly how might the local median house income influence future income potential?