Listing ID: 70171
UNIQUE OPPORTUNITY to OWN a TOP PERFORMING AUTHENTIC Italian Restaurant & Pizzeria w/Full Liquor Bar in prime high traffic,high visibility Bradenton FL location.
————SPEND YOUR DAY at the BEACH,go GOLFING or SAILING!!!============
A PROFESSIONAL RESTAURANT MANAGEMENT COMPANY will TAKE OVER the running of the RESTAURANT from the day of CLOSING!! YOU will NEVER WORK a single day in the BUSINESS and MAKE a SUBSTANTIAL $ix Figure Income as a AB$ENTEE-PA$$IVE – OWNER–The restaurant FOR $ALE is family owned- operated.The year-end restaurant sales for 2021 were $1,525,787. If you know the Pizza & Pasta business, then you know how everything works. The restaurant is a neighborhood friendly place with a true authentic Italian feel. Currently, the place has a Full Liquor-4COP Liquor License and a recently built outside Patio for eating and drinking. Many customers have been coming in weekly for years to enjoy their favorite Italian dishes The restaurant is well known in the Bradenton community,especially for its Original NY Style Pizzas. Current owners are looking at retiring to Italy . This is a perfect opportunity for a husband and wife team or a family with a background in the Pizza/Pasta/Restaurant business.The restaurant stayed partially open during Covid for Pick-Up & delivery and did very well.WILLING to SELLER FINANCE “experienced operators” with $800,000 Down Payment.–PROOF of FUND$ required!!
- Asking Price: $1,199,000
- Cash Flow: $461,687
- Gross Revenue: $1,525,787
- EBITDA: N/A
- FF&E: $300,000
- Inventory: N/A
- Inventory Included: N/A
- Established: 2007
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:3,500
- Lot Size:N/A
- Total Number of Employees:18
- Furniture, Fixtures and Equipment:N/A
Large well maintained premises.OUTDOOR PATIO SEATING. Currently, the restaurant can seat about 190+/-
up to 4 weeks at the Restaurant and by phone there after
Building home in Italy and looking to move back:)
The Competition is normal for the area.
The business was started in 2007, making the business 15 years old.
The company has 18 employees and is located in a building with estimated square footage of 3,500 sq ft.
The property is leased by the business for $6,727 per Month
Why is the Current Owner Selling The Business?
There are all sorts of reasons why people decide to sell operating businesses. Nevertheless, the real reason and the one they say to you may be 2 absolutely different things. For instance, they may claim "I have a lot of other obligations" or "I am retiring". For numerous sellers, these factors are valid. However, for some, these may simply be justifications to attempt to hide the reality of changing demographics, increased competitors, recent reduction in earnings, or a range of various other reasons. This is why it is really important that you not depend entirely on a vendor's word, however rather, use the seller's solution along with your overall due diligence. This will paint a much more realistic picture of the business's present scenario.
Existing Debts and Future Obligations
If the existing company is in debt, which many businesses are, then you will need to consider this when valuating/preparing your deal. Numerous operating businesses finance loans in order to cover items like stock, payroll, accounts payable, and so on. Keep in mind that occasionally this can imply that earnings margins are too tight. Numerous organisations fall under a revolving door of taking loans as a way to pay back other loans. In addition to debts, there may additionally be future commitments to think about. There may be an outstanding lease on equipment or the structure where the business resides. The business may have existing contracts with vendors that should be fulfilled or might cause penalties if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do operating businesses in the area bring in new clients? Most times, companies have repeat consumers, which form the core of their daily profits. Certain variables such as brand-new competitors sprouting up around the location, roadway building and construction, and personnel turnover can influence repeat clients and adversely influence future incomes. One vital point to take into consideration is the area of the business. Is it in a highly trafficked shopping center, or is it hidden from the highway? Undoubtedly, the more individuals that see the business often, the greater the chance to build a returning consumer base. A last idea is the general location demographics. Is the business located in a largely inhabited city, or is it located on the outside border of town? How might the regional median family earnings influence future revenue potential?