Semi-Absentee Highly Profitable 37 Yr Old Italian Restaurant
Listing Number: 189597-954396
Listing Details
- Down Payment: $340,000
- Sales: $1,245,430
- Seller's Discretionary Earnings: $504,040
- Inventory: $10,000
- Furniture, Fixtures, and Equipment: $100,000
- Rent: $60,000
- Employees: 14
- Year Established: 1989
- Reason for Selling: Retirement
Business Description
This Italian restaurant is a landmark in the community, where it has operated for over 37 years! It has a Pizza/Takeout area in addition to the full-service restaurant, which seats 140 indoors and 40 outdoors, with a separate party room that is rented out for special occasions. The current owners opened the restaurant in 1989 and then expanded into the current location in 2008. They are now looking to retire and are leaving behind a fully functioning staff with management in place. The two owners each spend two/three days a week at the restaurant supervising, but all day-to-day functions are handled by the managers who will be staying on with the new owner. With sales consistently over 100k/month and profits of over 40k/month, this one is a no brainer! The business is approved for SBA financing with a down payment of 340k based on the current revenue and cash flow. The new owner would make back their investment in less than 15 months!