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Full Service Pizza And Italian Restaurant
Location Massachusetts,United States
Asking Price Range < $250K
Gross Revenues $500000
Net Profit / Cash Flow $100000
Cash Flow Type Sellers Discretionary Cash
Seller Finance Not Disclosed
Year Established 1979
Number of Employees 4 - 5
Relocatable No
Number of Employees 4 - 5
Real Estate Leased
Training Seller will provide training.
Reason for Sale Retirement.
Description Located on Main Street, steps away from Gloucesterrs historic fishing community, is a full service pizza / Italian restaurant with a newly acquired seven day full liquor license. The restaurant is located on a corner lot in the epicenter of downtown Gloucester. There is 2100 sq. feet of space on ground level with a dining area that seats 65 people. Upstairs features a full 2100 sq. ft. function facility and office. There are 10-14 parking spaces behind the restaurant along with street parking.
Every year there are major events that pass in front of the restaurant: The 83 year old St. Peters Fiesta that draws 100k people; the 4th of July celebration; 5 block parties throughout the spring, summer and fall; A sidewalk Bizarre thatts a 3 day event and a Marathon road race with the finish line that ends right in front of the restaurant. All thatts needed is a new owner with the dream and vision to come in, run the restaurant, take advantage of booking the function hall upstairs, add delivery service, web orders, a catering service and you will have an extremely profitable business that will last a lifetime.
Seller is willing to stay on as a consultant to help the new owner get up and running with his proven, very profitable and successful system. All furniture, fixtures, full equipment, food recipes and liquor license are all included for $35,000. The restaurant has had a history of a seven figure gross sales. There is a 7 day full liquor license for consideration.
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