Listing ID: 79038
This long established Southern Maine restaurant is now available for sale. It is a cheerful, informal eatery/market specializes in homemade pasta & other Italian food & wine.
The very profitable restaurant has been in business since 2009 and survived the pandemic! Numbers in 2021 thus far are ahead of 2019 open fewer days and not doing lunch! They specialize in making handmade pasta daily and use fresh, simple ingredients much of it from Italy. In addition to dinner service, all the pasta and most of the sauces are also available for purchase and they do have many whole sale accounts. Hosting wine tastings and dinners with wine pairings could open up additional streams of income. This is priced for a fast sale…owners moving back to Italy!
This is an excellent opportunity to own a turnkey profitable Maine business. *(cash flow is the SDE)
- Asking Price: $299,000
- Cash Flow: $170,250
- Gross Revenue: $585,000
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 2009
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:1,645
- Lot Size:N/A
- Total Number of Employees:2
- Furniture, Fixtures and Equipment:N/A
Inside seating: 42...Outside seating: 12
Will provide was is necessary for a smooth transition
Moving out of country
The venture was founded in 2009, making the business 13 years old.
The business has 2-FT...9-PT employees and is situated in a building with disclosed square footage of 1,645 sq ft.
The property is leased by the company for $4,676 per Month
Why is the Current Owner Selling The Business?
There are all types of reasons individuals resolve to sell companies. Nevertheless, the real factor vs the one they tell you might be 2 entirely different things. For instance, they might claim "I have way too many other commitments" or "I am retiring". For numerous sellers, these factors are valid. However, for some, these might just be reasons to try to hide the reality of transforming demographics, increased competitors, recent reduction in incomes, or an array of various other factors. This is why it is very crucial that you not count totally on a vendor's word, but instead, use the seller's response together with your overall due diligence. This will paint a much more realistic image of the business's existing scenario.
Existing Debts and Future Obligations
If the current company is in debt, which many businesses are, then you will need to consider this when valuating/preparing your offer. Lots of companies borrow money with the purpose of covering items like inventory, payroll, accounts payable, and so on. Bear in mind that occasionally this can suggest that earnings margins are too small. Numerous businesses fall into a revolving door of taking loans as a way to pay back other loans. In addition to debts, there may also be future obligations to think about. There might be an outstanding lease on equipment or the building where the business resides. The business might have existing agreements with vendors that must be met or might cause penalties if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Just how do businesses in the location draw in new clients? Many times, operating businesses have repeat customers, which create the core of their day-to-day earnings. Specific aspects such as new competitors growing up around the location, road construction, as well as employee turn over can impact repeat clients and negatively impact future incomes. One crucial thing to consider is the placement of the business. Is it in an extremely trafficked shopping center, or is it concealed from the main road? Certainly, the more people that see the business often, the better the possibility to develop a returning consumer base. A last idea is the general area demographics. Is the business located in a densely inhabited city, or is it located on the outside border of town? Just how might the regional median house income effect future income prospects?