BBQ Restaurant/Bar In Meridian Ms

Description

BBQ restaurant and bar for sale in Meridian, Mississippi. The business has operated from the same location for more than 25 years and has developed a substantial base of repeat customers over that period.

Financials

• Annual gross revenue: approximately $1,000,000
• Asking price: $675,000
• Monthly lease payment: approximately $5,000

The seller reports that annual sales have remained around the $1 million level for several years. Buyers should review tax returns, POS reports and current-year results to confirm revenue and determine operating cash flow.

Business profile

• More than 25 years at the current location
• BBQ restaurant and bar
• Existing customer base
• Experienced staff in place
• Operating business with ongoing revenue

Reputation

The restaurant has a long operating history in Meridian and is represented by the seller as being among the higher-rated restaurants in Mississippi.

Any rankings, awards or review claims should be independently confirmed if material to the acquisition.

Staff

The seller reports that employees have been with the current ownership for an average of more than five years and are expected to remain after the sale.

Continued employment should be confirmed directly with key employees, including compensation, scheduling and management responsibilities.

Customer base

Long-term local customers account for part of the restaurant's business, while its reputation and location also bring in newer customers and visitors.

Due diligence

Buyers should verify historical sales, profitability, food and beverage margins, payroll, lease terms, equipment ownership, employee arrangements, liquor-license status and any customer deposits or outstanding obligations before closing.

The lease should be reviewed for remaining term, renewal options, rent increases and landlord approval requirements. Continued alcohol service will also be subject to applicable Mississippi and local licensing requirements.