Pizza-Pasta Restaurant w/Property
(Restaurants, Italian Restaurants)
Listed Price: $ 198,000
Listing ID: 201944
Listing DetailsGross Revenue: $ 786,000
Cash Flow: $ 129,000
FFE: $ 150,000 (Included in Price)
Real Estate: $ 325,000
Inventory: $ 10,000
Reason for Sale:
Training & Support:
Seller will provide effective training and knowledge transfer to the Buyer in all matters relating to Company operations.
Listing SummaryBusiness Description:
Priced to sell at 1.5X discretionary earnings. This is a busy and profitable restaurant fifteen years of successful business behind it and a great future built on a strong local reputation for good food and good service. The business has focused on providing lunch and dinner to local people as well as seasonal visitors to town. The location enjoys high visibility from the highway through town and excellent parking.
This restaurant is large enough to produce a nice income for an owner-operator and small enough for a hands-on operator to run easily with a few staff. A new owner with energy to get on the floor and run things should be able to grow earnings significantly simply through cost savings.
An ideal location with good visibility, access and parking along with limited competition insulate this business from changes in the market. Sales have been rising consistently.
The building has two residential apartments upstairs and a banquet room in addition to the regular restaurant space in use every day. These are not in current use and could increase the income from the combined property and business significantly.
The business is located in Rio Blanco County which, as of this writing had only one case of covid-19. The statewide shutdown during the Coronavirus crisis required the business to go to a carry-out only business model for several weeks. Despite this, year-to-date sales are only down 7% through April 30 and the business has since re-opened (May 12th) for sit-down service.
Please Note: Potential buyers will be asked to complete buyer registration, sign a non-disclosure, interview with broker and provide evidence of the means to complete a transaction of this size before additional confidential information will be disclosed.
There are few other restaurants in Rangely or within 30 minutes drive.
The addition of some higher priced menu items such as steaks could grow sales. The building has a banquet room which could be used more often.
Seller prefers a cash buyer.
Owned. Seller prefers to sell the property with the business but will consider other deal structures.
OperationYear Established: 2003
Absentee Owner: No