camoflauge
New member
- Jul 3, 2007
- 3
- 0
I know there''s a lot of info missing, but i really don''t know what to look for or what i need to ask.
Here''s the \"ad\" : DEPOT COFFEEHOUSE & Gift Shop. Established business, fine dining potential. Restored Train Depot, 2400sq.
Our local coffee house is for sale, asking price is $325,000. I know this seems high-it used to be a train depot and was completely remodeled. the building is in a great location-seems to be fairly busy, has a gift shop area and a back room, they serve a simple lunch, and it also has a music recording studio-which i wouldn''t know what to do with right now. all the equipment comes with it-the only thing that doesn''t is their current gift merchandise because they don''t want someone to be stuck with their \"merchandise\".
sales are estimated at $160,000 per year-i know this isn''t 100% current, but owner estimated $400-600 per day. i''m assuming that is gross income.
i need to make enough $$ to keep biz running and also to make my house payment and utilities-to the tune of $1500. I would be looking to make this a full time career.
i do love coffee, really love the gift shop idea as i make a lot of candle/bath & body, etc. type stuff and already have a lot of places lined up to order wholesale from.
also, i know of this couple and the only reason they are selling is that they have a # of other businesses and are extremely well off. they are looking to reduce some of their \"responsibility\" because even if they have a manager, they are still responsible for the business. i don''t suspect any \"foul\" reasons for selling as they are selling another biz also.
what else do i need to know, what do i need to ask, and what will i need to know in order to get a loan?
btw, town is approx 3500 in a good tourist town-it is the only coffeehouse in town, and has lunch which draws a good crowd-is mostly easy sandwhiches.
I know there are a ton of ?''s i need to ask, but not sure even where to start!!!
Thanks!!!!
Here''s the \"ad\" : DEPOT COFFEEHOUSE & Gift Shop. Established business, fine dining potential. Restored Train Depot, 2400sq.
Our local coffee house is for sale, asking price is $325,000. I know this seems high-it used to be a train depot and was completely remodeled. the building is in a great location-seems to be fairly busy, has a gift shop area and a back room, they serve a simple lunch, and it also has a music recording studio-which i wouldn''t know what to do with right now. all the equipment comes with it-the only thing that doesn''t is their current gift merchandise because they don''t want someone to be stuck with their \"merchandise\".
sales are estimated at $160,000 per year-i know this isn''t 100% current, but owner estimated $400-600 per day. i''m assuming that is gross income.
i need to make enough $$ to keep biz running and also to make my house payment and utilities-to the tune of $1500. I would be looking to make this a full time career.
i do love coffee, really love the gift shop idea as i make a lot of candle/bath & body, etc. type stuff and already have a lot of places lined up to order wholesale from.
also, i know of this couple and the only reason they are selling is that they have a # of other businesses and are extremely well off. they are looking to reduce some of their \"responsibility\" because even if they have a manager, they are still responsible for the business. i don''t suspect any \"foul\" reasons for selling as they are selling another biz also.
what else do i need to know, what do i need to ask, and what will i need to know in order to get a loan?
btw, town is approx 3500 in a good tourist town-it is the only coffeehouse in town, and has lunch which draws a good crowd-is mostly easy sandwhiches.
I know there are a ton of ?''s i need to ask, but not sure even where to start!!!
Thanks!!!!