Listing ID: 81454
2 Restaurant locations available in South Bend and Elkhart Indiana. The 2 stores combine for approximately $2.4 million in annual gross revenue.
Each location is ideal in their respective markets, located in the areas with the highest density of hotels, off Interstate 80/90 exits and have limited competition.
South Bend location is at the Notre Dame Exit #77, Elkhart Exit #92.
South Bend is a leased location, Elkhart real estate is owned and included in the sale price.
- Asking Price: $1,895,000
- Cash Flow: N/A
- Gross Revenue: $2,400,000
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 1994
- 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
South Bend location, 5,264 sf on .89 acres (leased) Elkhart location: 4,679sf on 1.47 acres (owned)
Local general manager will stay on after transition and can help train in all operations.
Business owners' health
Limited competition and in prime location
Business owners have been absentee owners for some time leaving great upside on good management and ownership
This Business Is An Established Franchise
The venture was established in 1994, making the business 28 years old.
Why is the Current Owner Selling The Business?
There are all types of reasons why individuals decide to sell companies. Nonetheless, the real factor and the one they tell you may be 2 absolutely different things. As an example, they might say "I have way too many other obligations" or "I am retiring". For many sellers, these factors stand. But also, for some, these might simply be justifications to try to hide the reality of transforming demographics, increased competition, recent reduction in incomes, or a variety of various other reasons. This is why it is extremely essential that you not depend totally on a vendor's word, yet instead, use the vendor's solution in conjunction with your general due diligence. This will paint an extra reasonable image of the business's existing situation.
Existing Debts and Future Obligations
If the existing business is in debt, which many businesses are, then you will need to consider this when valuating/preparing your offer. Many companies finance loans so as to cover points such as stock, payroll, accounts payable, so on and so forth. Bear in mind that occasionally this can mean that revenue margins are too tight. Lots of organisations fall under a revolving door of taking loans as a way to pay back other loans. Along with debts, there may likewise be future commitments to think about. 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 satisfied or may lead to charges if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do operating businesses in the area attract brand-new clients? Many times, businesses have repeat consumers, which develop the core of their everyday revenues. Certain aspects such as brand-new competition growing up around the area, road building, as well as staff turn over can impact repeat clients and negatively influence future profits. One essential thing to think about is the placement of the business. Is it in an extremely trafficked shopping mall, or is it concealed from the main road? Certainly, the more individuals that see the business on a regular basis, the greater the chance to build a returning customer base. A final idea is the basic location demographics. Is the business situated in a largely populated city, or is it located on the outskirts of town? Just how might the local typical household income effect future revenue prospects?