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Longstanding Franchised Family Restaurant

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Price: $499,000

Annual Revenue: $1,110,000

Minimum Equity Required: $150,000

SDE: $205,000

Location: Nova Scotia

Listing ID: 1341

Listing Status: Sold

Description

For over 45 years, this community staple has proven to stand the test of time, and it all comes down to value and service delivered from a wonderful staff. If you love to be of service and desire freedom that can come from business ownership, then this would be an ideal opportunity for someone wanting to put some effort into taking the business to the next level, which wouldn't take much of an effort as there are some simple wins.

- excellent hours of operation - open a total of 65 hours/week.
- solid base of staff, many long term
- have not instituted any delivery options, which would very likely add 20%+ to revenues, or well over $50k in bottom line.
- zero social media has been done
- Well cared for and maintained property. (Not new, but cared for, clean, and maintained)
- Kitchen appliances all natural gas or electric, in very good condition. Brand new walk in freezer.

Will it be you who gets to reap the lifestyle rewards of this longstanding profitable community staple?

The sale is structured as a sale of 100% of the authorized and issued share capital of the company. The listing price of the business considers Working Capital to be pegged at $0 and closing adjustments shall be based on actual or as agreed working capital at the time of sale. By completing the NDA and becoming a qualified buyer, we'll be happy to send you a full Offering Memorandum that will answer most of your questions.

Financial Information

Fiscal Year End is March 31.
Revenues and Seller's Discretionary Earnings:

2023 In-House Financial Statement (April 1, 2022 to March 15, 2023)
Revenue: $1,110,000
SDE: $205,000

2022
Revenue: $840,000
SDE: $55,000

2021
Revenue: $695,000
SDE: $180,000

2020
Revenue: $1,380,000
SDE: $160,000

2019
Revenue: $1,480,000
SDE: $220,000

* Seller's Discretionary Earnings (“SDE”) is a calculation of the total financial benefit that a single full time owner-operator would derive from a business on an annual basis. SDE is the pretax and pre-interest profits, before non-cash expenses, owner's benefits, one time investments, and any non-related income or expenses. SDE may require that expenses be adjusted if a new owner (Purchaser) will necessarily need to take on a new expense. SDE is also referred to as Adjusted Cash Flow, Total Owner's Benefit, Seller's Discretionary Cash Flow, or Recast Earnings.
 
** Our expectations are for a minimum 35% down payment on the final negotiated purchase price. Feel free to run some of your own calculations here:
https://www.bdc.ca/en/articles-tools/entrepreneur-toolkit/financial-tools/business-loan-calculator

Real Estate

The property is leased at $59,500 per annum plus Common Costs and applicable HST (effective October 2020 until September 2025).

The lease agreement term will expire on September 2030 with an option to renew.

For more information on this listing, please complete our Non-Disclosure Agreement

Complete NDA For Full Overview
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