781 REDUCED Restaurant and Bar in Decatur
This restaurant has been open for 20 years with the same owner. Last year’s gross sales was 1.28 million. Restaurant is on an end cap with great visibility approximately 3800 ft.² and seats 140 with patio. Rent is low at $7450 monthly which is less than 7% of gross that includes cam garbage and water. Priced to sell fast at 345,000 with some financing to a qualified buyer. JUST REDUCED TO $295,000. Owner must sell!
How to Buy a Restaurant, Bar or Business in Atlanta, Georgia
1. Seek Out A Restaurant, Bar or Business to Buy
First step fill out our Confidentiality Agreement along with financial information along with financial information. We will then give you some general information on the Businesses that meets your needs. Once we have all the paper work properly filled out we will supply you with the locations of said businesses. You will visit the prospective restaurant, bar or business that you may wish to buy as a customer during regular business hours so you won’t stand out. Under no circumstances will you ask any questions or talk to any employees. You are there as a customer only. If you have interest in this business, Georgia Restaurant Brokers will set an appointment for you with the Property Owner (usually before or after closing so as not to let any employee’s know of the sale). You will at that time be able to tour the facility and have the opportunity to ask all the questions necessary. It is best not to discuss the price and terms of sale with the business owner. Georgia Restaurant Brokers will walk you through the process.
2. Find A Realistic Value of the Restaurant, Bar or Business You Want to Buy
Once you find a restaurant, bar or business to buy that suits your dreams, it’s necessary to come up with a realistic value. There are two types of sales, the first is an asset sale or a distressed sale (anywhere from $20,000 -$75,000) basically for the equipment, lease anything of value. The second is a profitable business for sale, which must be formulated through cash flow. A profitable business for sale can go anywhere from 1 to 3 multiples of the net. For example, if a business nets $ 100,000 a year and the multiple is 2 the value of the business is $200,000. There are also other variables that must be added to the equation, such as the lease, location, how much equipment, name, concept and good will are just a few things that should be factored into the sale. Georgia Restaurant Brokers will be there to help with the details.
3. Seal The Deal for Your Restaurant, Bar, or Business
The Closing process will be a walk in the park. Georgia Restaurant Brokers will get a closing attorney to conduct lien searches, draw up bill of sale and other closing documents for the parties to review. A cashiers’ check will be required at closing for whatever amount is due. Georgia Restaurant Brokers will coordinate the buyer, seller their advisor’s, landlord, the attorney and anyone else involved with the transaction.
Buying an existing restaurant, bar, or business can be a very wise decision for a true entrepreneur. A proven track record, experienced employees, good suppliers, loyal customers and the ability of financing, makes buying a profitable business easier and safer than other investments. Georgia Restaurant Brokers will help you fulfill your dreams, owning a successful business.