Listing ID: 67570
RVA Business Brokers is pleased to offer this amazing Italian Restaurant for sale.
Great facility with indoor and outdoor seating, first class kitchen and buildout, high traffic count and perfect demographics in the market area. Back to nearly 100% of pre-COVID functionality. Separately priced is a first-class coin laundry and dry area, including five new dryers just installed, generating approximately $1,000 per week.
This Italian Restaurant offering is a family-owned restaurant that caters to customers of all ages, offering take-out, Uber Eats & DoorDash Delivery, dine-in, bar seating, patio seating, as well as catering services in-house and off-site. This offering has a banquet room for private parties that seats up to 65 people. The Italian Restaurant offers authentic Italian dishes, sandwiches, subs, burgers, and even offers gluten free menu options.
Major accomplishments include many catered events, rehearsals, etc.
The customer base has been established through generations. LOYAL following!
- Asking Price: $430,000
- Cash Flow: $170,000
- Gross Revenue: $800,000
- EBITDA: N/A
- FF&E: $150,000
- Inventory: $10,000
- Inventory Included: N/A
- Established: N/A
The restaurant has a tastefully built out 6,800 square feet building with ample parking. The facilities are currently owned and are available for new owner to rent or buy. Pictures available upon request. At current volume levels there is no need for expansion of the footprint of restaurant. The asset condition of the entire facility is in great shape and does not require any additional capital. The Coin Laundry is available for $100,000 producing $1,000 per week with nice equipment, including five new dryers just installed.
Pursue Other Opportunities in Real Estate
The deal shall not include inventory valued at $10,000*, which ins't included in the suggested price.
The building is leased by the business for $6,250 per Month
Why is the Current Owner Selling The Business?
There are all kinds of reasons people choose to sell businesses. Nonetheless, the true factor vs the one they tell you may be 2 entirely different things. As an example, they may claim "I have too many other responsibilities" or "I am retiring". For many sellers, these factors are valid. However, for some, these might simply be excuses to attempt to conceal the reality of altering demographics, increased competitors, recent reduction in incomes, or a variety of various other factors. This is why it is very essential that you not rely completely on a seller's word, however rather, make use of the vendor's response along with your total due diligence. This will paint an extra realistic image of the business's existing circumstance.
Existing Debts and Future Obligations
If the current company is in debt, which lots of businesses are, then you will certainly have reason to consider this when valuating/preparing your deal. Numerous businesses borrow money with the purpose of covering items such as inventory, payroll, accounts payable, so on and so forth. Remember that in some cases this can suggest that revenue margins are too tight. Many organisations fall under a revolving door of taking loans as a way to pay back various other loans. Along with debts, there may also be future commitments to think about. There might be an outstanding lease on equipment or the structure where the business resides. The business may have existing agreements with suppliers that have to be met or may lead to charges if terminated early.
Understanding the Customer Base, Competition and Area Demographics
How do companies in the location bring in brand-new clients? Many times, businesses have repeat clients, which develop the core of their everyday profits. Specific factors such as brand-new competitors growing up around the location, road building and construction, and personnel turn over can affect repeat clients and negatively impact future revenues. One crucial point to take into consideration is the area of the business. Is it in a very trafficked shopping center, or is it hidden from the main road? Obviously, the more people that see the business on a regular basis, the greater the possibility to build a returning customer base. A final thought is the basic location demographics. Is the business situated in a densely inhabited city, or is it situated on the outside border of town? How might the neighborhood mean household income influence future revenue potential?