Listing ID: 67686
Highly Profitable Italian Restaurant for Sale in Palm Beach County will provide owner with a great income and quality of life. Closed on Mondays and all of August and September – the new owner will enjoy Florida lifestyle. SBA QUALIFIED – Buy this restaurant with as little as 20% down.
This restaurant for sale has great margins. The husband-and-wife team that operates the restaurant took home in excess of $300,000 in 2021. The rent is an incredibly low $1,715 per month. The gross sales were $654,577 in 2021. The husband runs the kitchen with two helpers. The wife runs the front of house with two additional servers. Labor cost is extremely low – under 10% – and provable. The restaurant is perfect for a chef owner, husband and wife team, or anyone who wants to put a team to satisfy the culinary tastes of the affluent area.
The rent of this successful 11-year-old restaurant for Sale by We Sell Restaurants is incredibly low and insures high profit margins. Current rent is $1,715 per month including CAMS and taxes. The space is 1,300 square feet and seats 24 guests. The restaurant has great online reviews and reservations are necessary each day of operation. The restaurant is open six days per week for dinner only. Closed on Mondays. The restaurant also closes for August and September and reopens on the second week of October each year. This is the seller’s choice and you are more than welcome to increase operating hours.
The chef owner works the kitchen. He handles most of the prep and the food orders. He is assisted in the kitchen by two others. The chef owner works full-time. The two assistants average work week is 30 hours. The other owner handles the front of house with two additional servers. She works an average of 30 hours per week.
The restaurant for sale is an authentic Italian restaurant where the scent of roasted garlic and herbs flourish in the air as you step through the door. Your guests will enjoy delicious food, great service, and a comfortable, inviting atmosphere. The menu features the classics such as Marsala, Francese, Picaata, and more with your choice of Chicken, Veal, Shrimp, or a fresh fish of the day. Pasta and entree dishes are prepared to order. Desserts and Appetizers are popular. The restaurant has a 2COP beer and wine license and wine sales are excellent. All recipes will transfer with sale and the chef/owner will train for two weeks at no additional fee.
- Asking Price: $495,000
- Cash Flow: $320,768
- Gross Revenue: $659,577
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 2011
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:1,300
- Lot Size:N/A
- Total Number of Employees:4
- Furniture, Fixtures and Equipment:N/A
11 Tables 35 Chairs 2 Bench Seating Revel POS World Pay Credit Card Table Top Cooler Keg Box 1 Head 4 Taps Small Cooler Ice Well Espresso Machine Coffee Machine 2 Television 1 Door Sandwich Cooler 2 Door Sandwich CoolerTable Top Steamer 2 Eye Burner 2 Eye Burner Six Eye Burner with Oven Salamander Fryer Conveyor Toaster Prep Table 3 Dish washer Stand up freezer one door Stand up Cooler Two Door Assorted Pots Pans and Utensils SS Shelving Small Kitchen Aid 5 QT Grinder Coffee Ice Machine Speed Rack Residential Fryer Standup Cooler 2 door Stand up cooler and freezer 3 door combo Convection Oven Microwave Slicer 20 QT Dough Mixer
Seller will provide two of training at no additional cost
The reputation and online reviews are excellent More than ten years of goodwill built-in The extremely low rent gives you advantage over your competition is profit margins
To increase sales you can add delivery service open on Sundays and not close for two months each year
The venture was established in 2011, making the business 11 years old.
The company has 4 employees and is situated in a building with estimated square footage of 1,300 sq ft.
The property is leased by the company for $1,715.55
Why is the Current Owner Selling The Business?
There are all kinds of reasons people resolve to sell operating businesses. Nonetheless, the true reason vs the one they say to you might be 2 completely different things. For instance, they may claim "I have too many other responsibilities" or "I am retiring". For numerous sellers, these factors are valid. However, for some, these may just be justifications to try to hide the reality of changing demographics, increased competitors, current reduction in earnings, or a variety of various other factors. This is why it is extremely vital that you not rely absolutely on a vendor's word, yet instead, use the vendor's response combined with your overall due diligence. This will repaint a more sensible image of the business's current scenario.
Existing Debts and Future Obligations
If the existing entity is in debt, which many businesses are, then you will need to consider this when valuating/preparing your deal. Lots of companies take out loans with the purpose of covering items such as supplies, payroll, accounts payable, and so on. Bear in mind that sometimes this can suggest that profit margins are too small. Many businesses come under a revolving door of taking on debt as a way to pay back various other loans. In addition to debts, there may also be future commitments to take into consideration. There might be an outstanding lease on equipment or the structure where the business resides. The business might have existing agreements with suppliers that have to be met or may result in fines if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Just how do operating businesses in the location bring in brand-new clients? Often times, businesses have repeat consumers, which form the core of their daily revenues. Specific elements such as new competitors sprouting up around the location, road construction, and also employee turn over can influence repeat customers and also adversely affect future earnings. One crucial thing to take into consideration is the placement of the business. Is it in a very trafficked shopping center, or is it hidden from the main road? Clearly, the more individuals that see the business regularly, the higher the opportunity to build a returning client base. A last thought is the basic area demographics. Is the business located in a largely populated city, or is it located on the outskirts of town? How might the local average home earnings impact future earnings prospects?