Business Overview

To be rated the Best Italian Restaurant in Mississippi says it all about this elegant restaurant that has been in business only six years. The growth of this business has been substantial since it’s origin with sales beginning at zero and now over $1.5 million. and approaching $2.0 million. This profitable restaurant is well equipped including a Wood Fired Pizza Oven as well as a separate walk-in cooler and freezer. The restaurant is elegantly designed with “Old Italy”, in mind and includes a beautiful bar area that serves liquor, beer and a wide assortment of wines. The owner is originally from Southern Italy and everything is freshly prepared and reasonably priced with high 4-5 star ratings on all social media sites makes this restaurant a favorite destination for locals and tourists.

Financial

  • Asking Price: N/A
  • Cash Flow: N/A
  • Gross Revenue: N/A
  • EBITDA: N/A
  • FF&E: $150,000
  • Inventory: $35,000
  • Inventory Included: Yes
  • Established: 2015

Detailed Information

  • Property Owned or Leased:Own
  • Property Included:Yes
  • Building Square Footage:10,000
  • Lot Size:N/A
  • Total Number of Employees:10
  • Furniture, Fixtures and Equipment:N/A
About The Facility:

The restaurant is located on the main street of the downtown area of the city in a restored historical building that offers an immensely attractive facade. There is 100 feet of street frontage, and parking in the rear of the building to accommodate up to 100 vehicles. There is a private meeting room located within the restaurant, along with a outstanding water fountain display in the middle of the restaurant. The building also has three apartments located on the top floor with a separate entrance from the restaurant and these have been fully leased since the origin of the building restoration. (Home Based)

Is Support & Training Included:

The Seller will offer a full month of on premise training and two additional months of consultation.

Purpose For Selling:

The owner is retiring.

Pros and Cons:

There are the usual national pizza chains and food trucks located in the area but no full service Italian restaurants within 25 miles. The Wood Fired Pizza Oven gives this restaurant a distinct advantage over the national chains and food trucks in the area.

Opportunities and Growth:

The city the business is located has experienced a tremendous increase in tourist to the area over the past three years with no slowdown in projected. The city has three colleges and a total population around 80,000. The restaurant is currently closed on Sundays, which offers growth potential. .

Home Based:

This Business Is Home Based

Additional Info

The venture was established in 2015, making the business 7 years old.
The deal will include inventory valued at $35,000, which is included in the asking price.

The company has 10 employees and resides in a building with approx. square footage of 10,000 sq ft.

Why is the Current Owner Selling The Business?

There are all sorts of reasons people resolve to sell companies. Nevertheless, the true factor and the one they tell you may be 2 completely different things. For instance, they may say "I have a lot of other commitments" or "I am retiring". For lots of sellers, these factors are valid. But also, for some, these might just be reasons to attempt to hide the reality of transforming demographics, increased competition, current reduction in incomes, or an array of other factors. This is why it is very vital that you not depend entirely on a seller's word, yet instead, make use of the seller's solution along with your overall due diligence. This will paint an extra reasonable image of the business's existing circumstance.

Existing Debts and Future Obligations

If the existing business is in debt, which many businesses are, then you will have reason to consider this when valuating/preparing your deal. Many companies take out loans so as to cover points like supplies, payroll, accounts payable, etc. Bear in mind that in some cases this can indicate that profit margins are too thin. Lots of companies come under a revolving door of taking loans as a way to pay back other loans. In addition to debts, there may additionally be future obligations to think about. There might be an outstanding lease on equipment or the structure where the business resides. The business might have existing agreements with vendors that must be met or may cause charges if canceled early.

Understanding the Customer Base, Competition and Area Demographics

Just how do businesses in the location bring in new customers? Many times, businesses have repeat customers, which develop the core of their daily profits. Certain aspects such as new competitors growing up around the location, road construction, and staff turn over can impact repeat consumers and also adversely affect future profits. One crucial thing to take into consideration is the placement of the business. Is it in a highly trafficked shopping mall, or is it hidden from the main road? Undoubtedly, the more people that see the business on a regular basis, the better the chance to construct a returning customer base. A final idea is the basic location demographics. Is the business situated in a largely populated city, or is it located on the edge of town? How might the local mean family earnings influence future earnings prospects?