Listing ID: 66676
3,874 SF +/- Globe Bar & Kitchen
1,200 SF +/- The Blind Buck
Attractive Rent and Long Term Lease
Huge Rectangular Bar
State of the Art Night Club Style Sound System
Large Walk-In Cooler and Basement Liquor Room/Storage Area
History of High Volume Sales
One of the Top Restaurant/Bar Corners in Spokane
Possible Seller Financing
- Asking Price: $600,000
- Cash Flow: N/A
- Gross Revenue: N/A
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: N/A
This Business Is An Established Franchise
The property is leased by the company for $0.00
Why is the Current Owner Selling The Business?
There are all kinds of reasons individuals decide to sell businesses. However, the real factor and the one they say to you might be 2 absolutely different things. As an example, they might state "I have a lot of various commitments" or "I am retiring". For numerous sellers, these reasons stand. But, for some, these might just be reasons to attempt to hide the reality of changing demographics, increased competition, current decrease in incomes, or a variety of various other factors. This is why it is really essential that you not count absolutely on a vendor's word, but instead, use the seller's solution together with your overall due diligence. This will paint a more realistic picture of the business's existing scenario.
Existing Debts and Future Obligations
If the current business is in debt, which numerous companies are, then you will have reason to consider this when valuating/preparing your offer. Many operating businesses borrow money so as to cover points such as inventory, payroll, accounts payable, and so on. Keep in mind that occasionally this can indicate that revenue margins are too tight. Lots of organisations fall into a revolving door of taking loans as a way to pay back other loans. In addition to debts, there may also be future commitments to take into consideration. There may be an outstanding lease on equipment or the building where the business resides. The business may have existing agreements with vendors that should be satisfied or might lead to penalties if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do businesses in the area draw in new clients? Most times, companies have repeat consumers, which form the core of their everyday earnings. Certain elements such as brand-new competitors sprouting up around the location, roadway building and construction, and also employee turnover can impact repeat consumers as well as adversely influence future revenues. One vital thing to consider is the location of the business. Is it in an extremely trafficked shopping mall, or is it hidden from the main road? Undoubtedly, the more individuals that see the business often, the higher the possibility to develop a returning consumer base. A last thought is the general area demographics. Is the business placed in a densely inhabited city, or is it located on the edge of town? Exactly how might the neighborhood mean house earnings influence future income potential?