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Well Established Pizzeria And Bar For Sale
Location Connecticut,United States
Asking Price Range < $250K
Gross Revenues $389000
Net Profit / Cash Flow $73000
Cash Flow Type Sellers Discretionary Cash
Seller Finance No
Year Established 1958
Number of Employees 10 - 19
Relocatable No
Number of Employees 10 - 19
Real Estate Leased
Training Whatever is reasonable.
Reason for Sale The owner is tired and ready for a change.
Description This is a well-established pizzeria and bar located on a main road in a strip shopping center.
The restaurant has been family owned and operated since it opened in 1958. The present owner has been working in the restaurant since he was 12 and takes pride making fresh dough for his award winning pizza throughout the day.
The 4,000 square foot pizzeria and bar have separate entrances. The restaurant has seating for 90 with 12 booths and 2 long tables. The 35 foot bar has 5 taps and counter fridges with 15 stools along the bar. There are another 52 stools and chairs about the room, pool table, dartboard and 3 video games. The business has a total occupancy of 170.
The restaurant has a full kitchen. The equipment includes, but is not limited to, hoods, 4 pizza ovens, 2 fryers, gas range, stainless steal prep tables, 2 walk-in refrigerators, walk-in freezer, counter fridges, mixer, meat slicer and dishwasher.
The business has a low rent and the landlord is willing to sign a new 5 or 10-year lease with option to renew. They have 2 full-time and 11 part-time employees.
The owner is tired and ready for a change. The business is currently operating only 50.5 hours each week with no delivery. The business is closed Monday and Tuesday and closes the rest of the week at around 10 pm. There is plenty of room to increase sales.
This is a great opportunity to be your own boss and will not be on the market for long.
Financials:
Asking: $ 150,000
Gross: $ 389,000
Cash Flow: $ 73,000
Inventory: $ 5,000 (Not included in the asking price)
FF&E: (Included in the asking price)
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