Listing ID: 73509
This Established Pizza and Sports Bar had 2021 ACTUAL ANNUAL Sales of $1,401,072 and an Owner Profit of $277,856. During 2020 due to COVID the Dinning Room (Inside Sit Down) was Closed from March 16th- May 20th (2 Months). In 2020 with Only 10 Months of full operation the Business Had an Owner Profit of $141,538 with Sales of $1,228,935 !!
The business was established in 1996 and has had the Same Owner since it has opened (25 Years of Consistent Business) !!
The Owner is now ready to Retire.
This Pizza and Sports Bar is located on a very busy road in a Stand Alone Building (Which is Leased) and is surrounded by apartments and single family homes (with a lot more being built). Fantastic set up ! With a Full Bar having a D5, D6 Liquor License (Beer, Wine, Spirits with Sunday Sales) and a Inside Seating Capacity approved by the city of 200 (Presently due to Covid set up to accommodate 132) and outside Patio seating for 12. The Sports Bar has a great vibe with 16 TV”S and 1 Big Projections screen TV. The seller estimates Dine in Sales of 40% and Delivery and Pick-up of 60%. Easy Menu consisting of Pizza, Wings, Subs, Salads, Burgers, Appetizers and Calzones, Bar has 6 Beers on Tap and offers Full Line of Bottled Beer and Mixed Drinks.
Another Great feature the Building is 6,000 sq Ft with the Kitchen and Dinning Room at 3,000 sq ft and a Full Basement at 3,000 sq ft consisting of Office and Dry Storage.
The TOTAL RENT IS ONLY $3,600 Per Month !!! And the Rent Includes Water and Sewer !! Does Not Get Much Better !!
Outstanding Opportunity to Own a Established (25 YEARS) Pizza and Sports Bar !!!
Owner is Motivated and Wants an Offer !!!!
- Asking Price: $299,900
- Cash Flow: $277,856
- Gross Revenue: $1,407,072
- EBITDA: N/A
- FF&E: N/A
- Inventory: $14,000
- Inventory Included: N/A
- Established: 1996
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:6,000
- Lot Size:N/A
- Total Number of Employees:6
- Furniture, Fixtures and Equipment:N/A
Stand Alone (LEASED) building with ample parking. Great well maintained equipment long list includes a Double Deck Conveyor Pizza Oven, Conveyor Sandwich/Calzone Oven, 60 Qt Mixer, Walk-in Refrig, Walk In Beer Cooler, 7 POS Stations, Sound System, Security System with 16 Cameras. Lease Expires Feb28, 2025 with One 5 Year option to Renew which extends the lease to 2030.
The owner will provide training to ensure a smooth transition to the new owner.
Seller wants to Retire after being in Business for 25 Years.
Same owner Since business opened in 1996 25 Year of Consistent Business. Sales 2021 Annual $1,401,072 Owner Profit $277,586 Sales 2020 (10 Months) $1,228,935 Owner Profit (10 Months) $141,538 Sales 2019 Annual $1,439,629 Owner Profit $217,547 Sales 2018 Annual $1,374,254 Owner Profit $191,885 Sales 2017 Annual $1,364,104 Owner Profit $207,670
The venture was started in 1996, making the business 26 years old.
The deal doesn't include inventory valued at $14,000*, which ins't included in the requested price.
The business has 6 FT 24 PT employees and is located in a building with estimated square footage of 6,000 sq ft.
The property is leased by the company for $3,600 per Month
Why is the Current Owner Selling The Business?
There are all types of reasons people choose to sell businesses. Nonetheless, the genuine factor and the one they say to you may be 2 completely different things. As an example, they may say "I have too many other obligations" or "I am retiring". For numerous sellers, these factors stand. But, for some, these may just be excuses to try to hide the reality of transforming demographics, increased competitors, current reduction in incomes, or a range of other factors. This is why it is really essential that you not rely totally on a vendor's word, yet instead, use the vendor's response combined with your overall due diligence. This will repaint a more reasonable image of the business's present situation.
Existing Debts and Future Obligations
If the existing entity is in debt, which many companies are, then you will certainly have reason to consider this when valuating/preparing your offer. Many operating businesses finance loans so as to cover items such as supplies, payroll, accounts payable, etc. Keep in mind that in some cases this can suggest that revenue margins are too thin. Many companies come under a revolving door of taking on debt as a way to pay back various other loans. In addition to debts, there may likewise be future commitments to think about. There might be an outstanding lease on equipment or the building where the business resides. The business may have existing contracts with vendors that have to be met or may result in charges if terminated early.
Understanding the Customer Base, Competition and Area Demographics
How do companies in the location bring in new clients? Many times, companies have repeat customers, which form the core of their everyday earnings. Particular aspects such as brand-new competitors sprouting up around the location, roadway construction, and employee turnover can affect repeat customers as well as adversely influence future profits. One essential point to consider is the area of the business. Is it in an extremely trafficked shopping mall, or is it hidden from the highway? Certainly, the more people that see the business on a regular basis, the better the opportunity to develop a returning customer base. A final idea is the basic location demographics. Is the business placed in a largely inhabited city, or is it located on the edge of town? How might the neighborhood typical home earnings effect future income prospects?