Listing ID: 71428
A chance to own one of longest running and most popular (and profitable) italian markets/delis in all of NYC. Will sell with or without the property. Seller will provide FULL transitional support to the new owner.
Well known, iconic nearly 100-year-old family owned and operated Italian butcher shop and deli, with a loyal clientele who have shopped at this store for decades.
BEAUTIFUL FULL BUILDING PROPERTY ALSO OWNED BY SELLER AND WILL CONSIDER SELLING IT WITH THE BUSINESS FOR AN ADDITIONAL $4.75 MILLION (NEGOTIABLE). Or $5,250,000 for full package sale with the property.
Throughout its history, this business has been family owned and operated, since it opened in 1922.
The store is now owned and operated by the grandsons of the founder and is ready for a new owner to take this valuable legacy to new heights!
The store sells a variety of high-quality fresh meats (lamb, veal, beef), chicken, cheeses, pork, sausage (12 varieties), and deli style heroes served on amazing fresh baked bread. The store also offers an extensive prepared foods menu, and a catering menu for meetings, parties and events. Freshly made on the premises are: mozzarella, pepperoni, salami, soppressata (best in NY), and rice balls (best in NY).
The store’s offerings have been featured in numerous publications and TV shows, including Bobby Flay’s “Boy Meets Grill”, The Rachel Ray Show, and Anthony Bourdain’s “No Reservations”, to name a few. If you visit the store at the right time, you may be lucky enough to see some of the celebrity patrons.
Included in the sale of this business will be the well-known name of this nearly 100-year-old business, and the recipes which have made this business iconic.
To maintain the success of this business, the owner(s) should be “hands-on”, know the recipes, have an outgoing personality and be customer obsessed.
This asking price of $300k is ideally for a total purchase price of the business with property.
- Asking Price: $300,000
- Cash Flow: $442,000
- Gross Revenue: $1,400,000
- EBITDA: N/A
- FF&E: $75,000
- Inventory: $9,000
- Inventory Included: Yes
- Established: 1922
- Property Owned or Leased:Own
- Property Included:N/A
- Building Square Footage:4,400
- Lot Size:N/A
- Total Number of Employees:4
- Furniture, Fixtures and Equipment:N/A
4 story building, 1,100 sq ft. each level One commercial space at street level, and 3 residential spaces (on the second, third and fourth levels). The facade of this brownstone building has been recently restored. There are 2 areas available in basement for residential storage. THIS PROPERTY IS NOT INCLUDED IN THE ASKING PRICE - SELLER WILL CONSIDER SELLING IT WITH THE BUSINESS FOR AN ADDITIONAL $6 MILLION (NEGOTIABLE). OR WILL LEASE TO NEW BUYER FOR A FAIR MARKET RENT. Neighboring Boerum Hill and Cobble Hill in Brooklyn, Carroll Gardens is equal parts historic and hip. Classic brownstones and modern high-rise apartments comprise the bulk of the rental options in Carroll Gardens. While the neighborhood is distinctly urban, Carroll Gardens embraces the outdoors with lush tree-lined streets and numerous community parks. Carroll Gardens is home to a close-knit community, which supports a thriving small business scene. Residents enjoy access to a host of popular restaurants, unique boutiques, cozy cafes, artisanal food shops (Famous Italian Pastry Shop, Gourmet Fish Store), local pizzerias, hip bars, and great public schools in the neighborhood. Getting around from Carroll Gardens is easy with its walk-able design and quick access to I-278, I-478, and multiple subway stations. The store is located one block from a subway station.
6 months from day of sale in a consulting role. First 2 weeks will be an in-store presence to assist new owner(s) during the transition. NOTE: Strong possibility that the Chef, Butcher, and Deli Clerk would stay on. All are long-term employees, have knowledge of the recipes and operational standards. All have a strong connection to the clientele and are all-stars in providing great customer service.
The business is in a prime location called Carroll Gardens. The area is known as “family friendly” because of its beautiful streets and brownstone row houses. Carroll Gardens is also known to have some of the best public schools in New York City. The business for sale can boast that it truly is the “only game in town”. There are four similar businesses within a radius of 25 blocks. What sets this business apart from the rest is the fresh, high quality products that they have been selling to a loyal clientele for nearly 100 years.
This unique business has thrived throughout its almost 100-year history while operating under the “old school” model of cash only. A new owner can utilize technology to open up additional revenue streams to increase sales, as follows: • Accept credit cards. • Selling their signature products (Ex: 12 varieties of sausage) on an online marketplace like “Goldbelly”, to reach new customers across all 50 states. This is an opportunity to create a lucrative sub-business. • Utilize online platforms to: 1) make the ordering process easier and faster, 2) reach a much larger audience, 3) have a strong online presence on social platforms 24x7 without incurring expensive advertising costs, 4) using the analytics from these platforms to identify who your customers are and their ordering habits, 5) grow the bottom line by allowing your customers to browse the menu without feeling rushed, leading to bigger orders. • Utilize food delivery services (Uber Eats, Grub Hub, Door Dash) to reach a segment of the market who want the convenience of ordering food without having to leave their home or office. • There is an opportunity to increase sales by expanding the operating hours by 18+ hours a week. Monday – Saturday 9:00 AM - 5:00 PM to 8:00 AM – 7:00 PM Sunday 9:00 AM - 1:30 PM to 9:00 AM – 2:00 PM FILL OUT NDA HERE TO RECEIVE OFFERING MEMORANDUM AND ALL FINANCIALS https://form.jotform.com/swindle3/N1BB-NDA
The venture was established in 1922, making the business 100 years old.
The sale shall include inventory valued at $9,000, which is included in the asking price.
The business has 4 employees and resides in a building with disclosed square footage of 4,400 sq ft.
Why is the Current Owner Selling The Business?
There are all types of reasons individuals choose to sell businesses. Nevertheless, the true factor vs the one they tell you may be 2 entirely different things. For instance, they may say "I have too many various obligations" or "I am retiring". For many sellers, these reasons stand. But also, for some, these may just be justifications to try to conceal the reality of transforming demographics, increased competitors, recent decrease in incomes, or an array of other reasons. This is why it is really vital that you not rely totally on a seller's word, yet instead, utilize the seller's solution along with your total due diligence. This will paint an extra reasonable image of the business's present situation.
Existing Debts and Future Obligations
If the existing entity is in debt, which many businesses are, then you will have reason to consider this when valuating/preparing your offer. Many operating businesses take out loans with the purpose of covering points such as stock, payroll, accounts payable, so on and so forth. Remember that occasionally this can imply that earnings margins are too thin. Numerous businesses 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 obligations to take into consideration. There might be an outstanding lease on equipment or the structure where the business resides. The business may have existing contracts with vendors that must be satisfied or might lead to fines if canceled early.
Understanding the Customer Base, Competition and Area Demographics
How do businesses in the location attract new clients? Many times, companies have repeat consumers, which develop the core of their day-to-day revenues. Particular aspects such as brand-new competition sprouting up around the area, road building and construction, and also employee turn over can influence repeat clients as well as adversely affect future profits. One crucial point to take into consideration is the placement of the business. Is it in a very trafficked shopping mall, or is it concealed from the highway? Clearly, the more people that see the business often, the greater the opportunity to develop a returning customer base. A final idea is the basic location demographics. Is the business located in a largely inhabited city, or is it situated on the outside border of town? How might the regional mean family income influence future income prospects?