Business Overview

Full service casual dining Grille Pizzeria, Bar. Located in the heart of downtown Providence theater area. Walking distance to theaters PPAC, Trinity Rep. R.I. Convention Center, and colleges JWU, RISD, RWU, URI. Guaranteed business day and night. . Fantastic location on a business street in the city. Total interior buildout completed in the past 5 years, spending over 500,000.00 to complete. Upper level full service bar. With a full finished basement , two kitchens. Same location for over 39 years. Owner looking to retire. Full liquor license 2;00 am closing time. Seating up to 75 people. Outdoor seating available. Turn key operation, staff in place for new ownership. Owner financing to qualified buyer. This place is a money maker. six figure income.
Established for over 39 years in the same location. Located in historic building, in the theater district. Walking distance to all theater, convention center events, etc. Ample parking.
Location, location, location !!!!! Downtown Providence. Buildout was beautifully done, new layout is customer service friendly, efficient setup for staff and new ownership. Street parking and unaffiliated parking lot adjacent to building. Business is well known for its pizza, Greek food and bar atmosphere.
New ownership can expand menu, offer delivery services. delivery services till 4;00 am 7 days weekly. favorable lease available. Catering to nearly offices, colleges, events, and apartments. Kitchen and finished basement allows for additional growth.
Ground level, first floor entrance, directly from sidewalk. Located on main downtown street. Highly visual corner location.

Financial

  • Asking Price: $625,000
  • Cash Flow: N/A
  • Gross Revenue: N/A
  • EBITDA: N/A
  • FF&E: $200,000
  • Inventory: $5,000
  • Inventory Included: Yes
  • Established: 1982

Detailed Information

  • Property Owned or Leased:N/A
  • Property Included:N/A
  • Building Square Footage:N/A
  • Lot Size:N/A
  • Total Number of Employees:6
  • Furniture, Fixtures and Equipment:N/A
Is Support & Training Included:

2 weeks

Purpose For Selling:

retirement

Additional Info

The business was founded in 1982, making the business 40 years old.
The sale does include inventory valued at $5,000, which is included in the suggested price.

Why is the Current Owner Selling The Business?

There are all types of reasons individuals choose to sell operating businesses. Nevertheless, the genuine reason and the one they tell you might be 2 entirely different things. As an example, they may state "I have way too many various commitments" or "I am retiring". For many sellers, these factors are valid. But, for some, these may just be reasons to attempt to hide the reality of changing demographics, increased competitors, current decrease in incomes, or a range of various other reasons. This is why it is really important that you not rely absolutely on a vendor's word, yet instead, use the vendor's answer together with your general due diligence. This will repaint a much more practical picture of the business's existing circumstance.

Existing Debts and Future Obligations

If the existing entity is in debt, which numerous companies are, then you will certainly need to consider this when valuating/preparing your deal. Lots of businesses take out loans in order to cover points such as stock, payroll, accounts payable, so on and so forth. Bear in mind that sometimes this can mean that profit margins are too tight. Numerous businesses fall under a revolving door of taking on debt as a way to pay back various other loans. Along with debts, there may additionally be future obligations to take into consideration. There may be an outstanding lease on tools or the building where the business resides. The business might have existing agreements with suppliers that should be met or may result in charges if terminated early.

Understanding the Customer Base, Competition and Area Demographics

Just how do companies in the area attract new customers? Often times, businesses have repeat consumers, which create the core of their day-to-day earnings. Specific elements such as new competitors sprouting up around the area, road building, and employee turn over can impact repeat clients as well as adversely affect future profits. One essential point to think about is the placement of the business. Is it in an extremely trafficked shopping mall, or is it hidden from the highway? Clearly, the more people that see the business often, the better the opportunity to develop a returning client base. A last thought is the basic area demographics. Is the business placed in a largely populated city, or is it located on the outskirts of town? Just how might the regional typical home earnings influence future income prospects?