* Included in Asking Price
Are you an individual seeking financial security and have experience in the restaurant industry? Or, are you an already established owner of one or more businesses and seeking to add a mature and stable restaurant?
This business has developed a commanding presence in its market place and has enjoyed a loyal customer base for many years. This has been made possible by developing and maintaining proven process and systems that allow the business to continually deliver exceptional food quality and service experience.
This business has been introduced to several recognized lending institutions and financing is available to qualified buyers who demonstrate business management or comparable restaurant experience. A minimum net worth of $400k is expected along with a minimum of $200,000 in available equity, plus closing costs and inventory.
Be sure to ask about the available buyer incentive. Thank you for your interest, we do look forward to understanding your needs.
Financial Information :Stability and Consistency of results is the highlight of this business.
The average annual revenues are $992,250 over the past 4 years with no more than 2% in fluctuation.
The average annual seller's discretionary earnings (SDE) are $245,850 over the past 4 years.
The average labor & benefits cost has been 28%
The average cost of goods sold has been 31%
PLEASE NOTE: Seller's discretionary earning or SDE is a common cash flow based measure of business earnings for owner-operator managed businesses. According to the International Business Brokers Association, SDCF can be determined as follows:
Start with the business pretax earnings.
Add non-operating expenses and subtract non-operating income.
Add unusual or one-time expenses, subtract non-recurring income.
Add depreciation and amortization expenses.
Add interest expense, subtract interest income.
Add a single owner's total compensation.
Adjust compensation of all other business owners to market value.
Real Estate / Lease :The restaurant operates from a leased premise of approximately 2,000 square feet.
The lease was recently renewed for a period of 11 years and expires on December 31, 2023.
The total lease cost, which includes all CAM, taxes, insurance, etc., is 6.9% of the 4 year average, or $5723 per month.
Seller Reference #1072
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