Annual Revenue: $300,000
Location: Cape Breton
Industry: Hotels Motels Cottages
Listing ID: 1252
Listing Status: Sold
The full package for a couple looking for some freedom to have a life other than just work. Ideally located along the Trans Canada, this package includes a 3 bedroom home, separate from the main business, a 66 seat cafe/restaurant (44 with Covid) that is only doing lunch and dinner, and 6 Inn rooms. There is an outdoor deck for many more seats if you wish. This 6-7 month operation offers many upside opportunities for those wishing for growth. Connect with us today to learn more. You will not be disappointed with the value provided by this business.
By completing the NDA and becoming a qualified buyer, we'll be happy to send you a full Offering Memorandum that will answer most all of your questions. The sale is structured as a sale of 100% of the authorized and issued share capital of the company. Working Capital shall be adjusted at $0. By completing the NDA and becoming a qualified buyer, we'll be happy to send you a full Offering Memorandum that will answer most all of your questions.
For a couple working the business, there has consistently been $150k available from the operations, including cash business and tips. The real estate alone was appraised at $700k in 2008.
Seller is willing to provide all records to qualified buyers and also provide Vendor Financing.
** 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, with the balance of the agreed upon value being financed over 15-20 years, given the heavy considerable real estate value. Feel free to run some of your own calculations here:
The 3 bedroom home is almost 1400 sft home.
The main building was initially built in 2007 with 2100 sft and then expanded to 5100 sft in 2009. The expansion was later converted to Suites in 2016/17.
The properties are both serviced by town water and septic system and situated on almost an acre of land with stunning water views.
** Please note, we are in the process of obtaining quotes on 2 pieces of work for the property, expected to total $40k. This has been considered in the listing price and the expectation is for the buyer to assume this responsibility.