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Popular Award Winning Eatery

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Complete NDA for Full Overview

Price: $379,000

Annual Revenue: $1,000,000

Minimum Equity Required: $150,000

SDE: $200,000

Location: Halifax, Nova Scotia

Industry: Restaurants

ID: 1182

Description

Local, trendy, and hip.......very few would suggest this operation is not an award winning bistro, while many will see all of their needs meet when it comes to acquiring the right operation. We welcome any discerning Buyer looking to add to their portfolio or an experienced Manager or Chef to step up. Any hands on engagement is sure to make a difference.
This offering has been a community favourite for many years, providing a solid leap off point for just one Buyer interested in taking ownership of a local jewel or stepping up their game.
A few highlights:
- Open just 43 hours per week.
- Lunch and Dinner services with weekend brunches in additional revenues.
- Seating for approximately 70 = an intimate experience for guests and staff, food is family.

The owner is selling 100% of the authorized and issued share capital of the company. The offering price considers Working Capital is adjusted at $0, meaning the negotiated working capital amount will be in addition to the offering price. See Financial section for more details.

By completing the NDA and becoming adequately qualified, you will be sent a full Offering Memorandum that will answer most, if not all, of your questions when the listing becomes live.

Financial Information

Revenues have ranged from $925K to $1.03M over the past 4 years.
There is an additional $24K in rental income, which could also be increased.
Sales mix is approximately 23% alcohol and balance food and non-alcoholic beverage.
COGS are 32% and labour 31% in 2018.
Seller's Discretionary Earnings have ranged from $146K to $214K over the past 4 years.
There is an additional $50K+ available should a duo look to take over the operation, displacing a current staff member.

** 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 40% 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

Operations

*Gateway Business Brokers operates as an independent contractor and is not an agent, employee, partner or broker of the Seller, Buyer or any other party and does not owe fiduciary duties to prospective Buyers. If the business Purchase involves a transfer of real estate, of any kind, the Buyer/Purchaser shall obtain the services of a licensed lawyer for the conveyance and land or lease transfer element(s) of the transaction.

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

Complete NDA For Full Overview

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

Complete NDA for Full Overview
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