Listing ID: 73558
WELL KNOWN & established TURN-KEY Italian restaurant located in a very busy shopping center with plenty of parking. Serving authentic italian dishes, pizza, salads, desserts and more…. This restaurant is owned and operated by the same owner for years and the he is ready to pass on the torch.
The current owner is hands on and this would be PERFECT for another hands on owner operator!!! Whether you are expanding or just want to become YOUR OWN BOSS for the first time, this business could be for you. Post Covid the restaurant has only been open for delivery and take out. However, the business can be grown significantly if the Buyer wishes to OPEN for dining.
Don’t miss out on this great opportunity to live and work in BEAUTIFUL Jacksonville, Florida
Numbers based on 2021 P&L.
SELLER WILL SHOW FINANCIALS TO A SERIOUS BUYER ONLY. MUST SHOW PROOF OF FUNDS.
*** SUBMIT YOUR INFORMATION THRU THE CONTACT SELLER SECTION***
We will not release any information unless there is a Non-disclosure signed with proof of funds. No Exceptions.
IMPORTANT NOTICE: This is an operating business being offered for sale “CONFIDENTIALLY”. Interested parties MUST fill out a Confidentiality Agreement AND a financial statement before any specific information, such as name and location of the business will be shared. NO EXCEPTIONS!
Information contained herein has been obtained from the Owner of the Property or from sources deemed reliable. We have no reason to doubt its accuracy but make no warranty or representation. All information is submitted subject to errors, omissions, changes, withdrawal without notice and any special listing conditions of the Owner.
- Asking Price: $250,000
- Cash Flow: $209,177
- Gross Revenue: $438,034
- EBITDA: N/A
- FF&E: $75,000
- Inventory: $5,000
- Inventory Included: Yes
- Established: 2015
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:1,725
- Lot Size:N/A
- Total Number of Employees:3
- Furniture, Fixtures and Equipment:N/A
Fully functional kitchen with charming dining room
10 days at no cost to buyer
The business was founded in 2015, making the business 7 years old.
The sale shall include inventory valued at $5,000, which is included in the requested price.
The business has 3 employees and is situated in a building with disclosed square footage of 1,725 sq ft.
The real estate is leased by the company for $5,400 per Month
Why is the Current Owner Selling The Business?
There are all sorts of reasons individuals resolve to sell businesses. Nonetheless, the true factor vs the one they say to you might be 2 absolutely different things. For instance, they might state "I have way too many other obligations" or "I am retiring". For many sellers, these reasons are valid. But also, for some, these may simply be justifications to attempt to hide the reality of changing demographics, increased competition, current decrease in earnings, or a variety of various other reasons. This is why it is really vital that you not rely totally on a vendor's word, however rather, use the vendor's solution in conjunction with your total due diligence. This will paint a more sensible image of the business's present scenario.
Existing Debts and Future Obligations
If the existing entity is in debt, which lots of companies are, then you will certainly have reason to consider this when valuating/preparing your offer. Lots of operating businesses finance loans in order to cover things such as supplies, payroll, accounts payable, and so on. Remember that sometimes this can indicate that revenue margins are too thin. Many businesses fall under a revolving door of taking loans as a way to pay back other loans. Along with debts, there may also 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 suppliers that should be satisfied or might result in fines if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do companies in the area draw in new customers? Often times, businesses have repeat customers, which develop the core of their daily earnings. Certain factors such as brand-new competition sprouting up around the area, roadway building, as well as personnel turn over can influence repeat customers and adversely impact future earnings. One vital thing to consider is the placement of the business. Is it in a very trafficked shopping center, or is it concealed from the main road? Certainly, the more individuals that see the business often, the greater the opportunity to construct a returning client base. A final idea is the basic area demographics. Is the business placed in a densely inhabited city, or is it located on the edge of town? Exactly how might the local median household earnings impact future revenue prospects?