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The business comes turnkey and offered at less than asset value as it is in the second year of its start-up. It requires an owner/operator to take it to the next profit level. The meticulously conceived interior boasts $180,000 in leasehold improvements and $160,000 in Furniture Fixtures & Equipment. Financials are through November 2019. This not-too-casual, not-too-formal Italian restaurant serves a full menu of authentic Italian pizzas, pastas and desserts. From the street, customers and passer-byes, are beckoned by the aromatic savory smells wafting through the door. Stepping inside, décor gives the customers the feeling they have been ushered into an eatery right off the streets of Italy. Offering something for everyone, patrons can bring the kids for pizza and enjoy a delectable Italian meal. Customers can dine-in, order and pick up or order for delivery.
The business comes turnkey and offered at less than asset value as it is in the second year of its start-up. It requires an owner/operator to take it to the next profit level. The meticulously conceived interior boasts $180,000 in leasehold improvements and $160,000 in like-new furniture, fixtures & equipment, (purchased 1 ½ years ago)
The restaurant is located on a busy main street in a thriving, well known and popular neighborhood known for its restaurants, coffee shops, bars and parks. The business is located in a mixed-use single-story commercial building with parking behind the building. Their fantastic location offers great visibility to automobile and foot traffic. The space is beautifully decorated providing a warm and welcoming atmosphere with the combination of comfortable table & chairs and booth seating for 60 that allows ample seating without feeling crowded. The lease is $5,108 per month for 2,310 square feet, including triple net, water & garbage with a 5 year option to renew.
This business is poised for growth. Revisiting the menu prices and putting an owner/operator at the helm will help increase the margins. Additional promotions could boost visibility, community awareness to reach new customers. There are additional delivery partnerships that could be explored as well as driving more digital marketing through Facebook, Instagram and other online avenues. Additional revenue streams could include private event rentals of the restaurant space and outside catering of events.
IBIS World December 2018 Reports that the Italian Restaurants industry is mature, providing a widely accepted cuisine to downstream consumers. Revenue growth is primarily determined by demand from households, which is ultimately driven by consumer spending and preferences. In turn, the industry has grown substantially over the five years to 2018 as the improving economy and rising consumer spending have led to consistent growth in sales.
Over the next five years, revenue for the Italian Restaurants industry is forecast to climb at an annualized rate of 1.3% to $60.1 billion.
Owners have recently purchased a business out of state where they spend the majority of their time. They are not able to focus on this growth phase of the restaurant as absentee owners.
M-Th 4pm–10; Fri 4–11; Sat 11-11; Sun 11-10pm
Will train for 4 weeks @ no cost
The restaurant serves an extensive selection of pizzas, pastas, baked pastas, calzones, appetizers, salads, hot grinders and desserts. They have created a menu specializing in dished that bake in the custom woodfire pizza oven. Pizza dough and sauce are made from scratch daily.
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