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Detroit Suburb Italian Restaurant For Sale

Michigan
Asking Price:
Available on request Furniture / Fixtures and Inventory / Stock included
Sales Revenue:
$1,278,000
Cash Flow:
$116,000

Leading neighborhood Italian restaurant - Average reviews of 4 Stars - Consistent revenue exceeding $1.2m - 80% repeat business - Long-term customer relationships - 250 person seating capacity - Equipment and vehicles valued at $75,000 - Inventory valued at $10,000 - 5 full-time employees, approximately 50 part-time - New outside lighting, recently replaced vinyl table coverings - Property purchase negotiable - Owner financing negotiable - Owner willing to remain for transition period.
The Company is a neighbor-hood favorite 40-year full-service restaurant and bar specializing in Italian and American cuisine. The Company’s menu includes pastas, steaks, seafood, salads, soups, beer, wine, liquor and catering services. The Company operates from an 8,000 square-foot facility, which it leases from the Owner. The facility includes a commercial kitchen, full bar, dining room, banquet room and office space. Along with serving individuals and large parties for dinner, the Company also offers catering services to off-site locations. The Company has between 47 and 55 employees; the number fluctuates based on seasons. Average payroll is $9,500 before taxes. Approximately 80% of sales are derived from food with remainder derived from the bar. The Company’s pricing is factored to achieve a 60% gross profit margin. In 2015, the Company generated revenue of $1.3 million with adjusted EBITDA of $87K.

Property information

Real Estate:

Lease

Business Operation

Reasons for selling:

Other interests

Employees:
55
Years established:
1974

Other Information

Support & training:

Owner available for standard transition.

Furniture / Fixtures value:
$75,000 - included in the asking price
Inventory / Stock value:
$10,000 - included in the asking price

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