Asheville NC Burrito joint for sale.Help!

In my town of Asheville NC an established Burrito joint has come available.the wife of the previous owners has died......husband is not interested in keeping it going....125000 in sales last couple of years....rent factor of 2100....good name.good rep....can keep the name...counter service...restaurant experience on my part....though years ago and as part of an Inn in new england.buts thats another lifetime ago.....monday thru friday....No vig to previous owner..just the fixed costs and variables....Sound like a good idea or not?

It all depends on how much he is selling it for.

125k in a couple years breaks down to 62.5K a year.. Take away the food costs, rent, overhead, utilities, labor costs, insurance, legal, workman's comp, repairs, etc... Carts make a better profit margin then this only running several months a year. Could be a good buy, if your ready to work the hours (and that means a good 80+ a week), along with running one tight ship there.. As with any food service biz, you jump in cold feet, and ready to lose everything.. If it's a risk your willing to take, it can go either way.. Ruin, or profit after a few years... Depends on your service and quality in the end (and the customer base you either build or scare away).. Scary ehhh? Nothing like it was 20 years ago...

PS. I love a good burrito and taco!

Sorry for my casual way of sharing the information.....to clarify, the is no selling price to the previous owner,,,,,125k per year gross sales....the last 2 yrs each......hours are mon-friday....11 till 8...all eqipment stays with the shop...Thanks for the replies.

Casual is good.. So 125K a year is what, around 25 to 30K going to the owner after the expenses? (Just a guess without knowing the staffing needs / payroll). Request the books and have someone experienced go over them for ya to get an accurate figure there. Even looking will cost ya $$... Sad, I know.. But it is the foundation of your future there.. Alot of folks come here for a solid answer, but with the variables, very few get what they're looking for...

here's my nicklel.
125k sales, means you must have a very very small staff. profitability is to be app 30%. which means if you do nothing, to boost sales, just work and ride the wave, you could make 36-38k. not bad for a start. lets see;;; "job offer: 36k for sleeping, more if you want to work" hhmm yea i would take it. its got gold plated seals all over it. and hey, dont forget to have some sort of contract that protects you, when the real owner comes to his senses, and wants his old store back. like i would either insist on a ten yr lease of his place, with a mere 10% of take home, going his way(maybe as a rent to own), or have a flat sale amount, that he would finance(i would guess the price to be around 40k tops, with good running equipment. after all, only 125k is not much name to buy.) you could almost run it yourself, maybe with one reliable (reliable, yes 'key word') partner.. maybe...
we did it, many years ago. the misses and i. we bought a place, that was run down, and closed for almost 2 yrs. we bleached everything, fixed what was broke, and got her licensed and open. then we played cards, for hours and hours, nothing. finally, we ran ads, and that, was the start. one satified customer led to another.. five years later, we sold for twice our initial investment, and that was a steal. oh yea, , 'hey everybody, we sold our place!' yup, fixing to make the big move, to 'blue ball' pa.
i figured hey, if the name fits... move in.. lol
peace!

Thanks for the feedback....Today I recieved an email from the property owner/not the previous business owner....seems he forgot to tell me he needs me to buy the equipment.for 10 grand.....will see how the face to face goes tomorrow....Thanks again