Listing ID: 73270
This extremely cashflow positive 15yr old Italian restaurant is rated one of the finest Italian restaurants in Oklahoma by TripAdvisor. Average adjusted net cashflow of $300K+ with over $50K in current inventory and over $100K recently updated kitchen equipment/FF&E included. Restaurant Manager has been with the business for over 10yrs along with a seasoned team of 8+ employees, some with 10+yrs service and most with the restaurant for over a year. The restaurant owns rights to “trademark recipes” and has consistently produced annual sales of over $1M+ for the last 10 years. The 5,000 sq ft building includes main dining rooms, full-service kitchen and bar, business offices, private banquet room!
The business is located in medium sized city with a metro area of 100,000 + residents only a few miles from I-40(one of busiest highways in the US) and other highway arteries with the low cost of living, minimal competition and existing labor force make the location very attractive. The owner will provide extensive training and support during the transition of 30 days. With 5000 sq ft of new building space on busy traffic corridor(20K+ daily car count), the business is priced to sell at $625K including $50K current inventory, and over $150K in FF&E. Monthly avg cashflow of $25,000 and SBA financing of 10% down/10yr amortization leave over $15,000 month after debt service for owner comp/working capital!!!
Please call or email Jay Shrewder today for more information: 918-230-9813. This is a golden opportunity to own a proven restaurant with a storied 15year history that has proven extremely profitable and is COVID and recession proof!!!
- Asking Price: $625,000
- Cash Flow: $450,000
- Gross Revenue: $1,100,000
- EBITDA: $300,000
- FF&E: $150,000
- Inventory: $50,000
- Inventory Included: N/A
- Established: 2005
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:5,000
- Lot Size:N/A
- Total Number of Employees:8
- Furniture, Fixtures and Equipment:N/A
New Building and space with state of art Kitchen and new equipment
30 day owner training/transition. 10yr Manager will stay on under new ownership.
Best Italian Restaurant in market area per TripAdvisor. Consistent $1M+ sales over last 10yrs with little competition in area.
Business could easily be branded into multiple units in similar sized communities.
The venture was founded in 2005, making the business 17 years old.
The transaction won't include inventory valued at $50,000*, which ins't included in the listing price.
The business has 8 employees and is situated in a building with disclosed square footage of 5,000 sq ft.
The real estate is leased by the company for $3,000 per Month
Why is the Current Owner Selling The Business?
There are all kinds of reasons individuals choose to sell operating businesses. Nonetheless, the real reason and the one they say to you may be 2 absolutely different things. As an example, they may state "I have a lot of other commitments" or "I am retiring". For lots of sellers, these reasons stand. But, for some, these might simply be reasons to attempt to hide the reality of altering demographics, increased competitors, current decrease in profits, or an array of various other reasons. This is why it is really important that you not depend entirely on a seller's word, but instead, use the vendor's answer along with your total due diligence. This will paint an extra realistic picture of the business's existing scenario.
Existing Debts and Future Obligations
If the existing entity is in debt, which numerous businesses are, then you will certainly have reason to consider this when valuating/preparing your deal. Many businesses borrow money with the purpose of covering things such as stock, payroll, accounts payable, and so on. Remember that occasionally this can mean that earnings margins are too tight. Numerous companies fall into a revolving door of taking loans as a way to pay back various other loans. In addition to debts, there may additionally be future obligations to think about. There might be an outstanding lease on tools or the building where the business resides. The business may have existing agreements with suppliers that need to be satisfied or may lead to penalties if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do operating businesses in the location attract brand-new consumers? Many times, operating businesses have repeat clients, which create the core of their day-to-day earnings. Specific variables such as brand-new competitors growing up around the area, road building, as well as staff turnover can influence repeat consumers and adversely influence future earnings. One important thing to take into consideration is the placement of the business. Is it in a very trafficked shopping mall, or is it concealed from the main road? Certainly, the more individuals that see the business regularly, the greater the chance to construct a returning client base. A final thought is the basic area demographics. Is the business situated in a largely populated city, or is it situated on the edge of town? Exactly how might the neighborhood typical household income influence future earnings potential?