Italian Restaurant With Continuing Growth (17655)
RestaurantsFor Sale in AZ
Financial & Assets Details
About the Business
Near the Tucson region in Arizona, five-star acclaimed restaurant specializes in offering a unique, fresh, and quality Italian dining experience to local walk-ins and returning visitors. From online, take-out or in-house food options, the eatery provides pizza, lunch sandwiches, seafood, steaks, pasta, beer, wine, liquor and a popular catering service to its geographic radius that’s backed by thriving reviews from its large client base. Headquarters is a primely situated facility of 3,000 square feet inside a high-traffic and visible area that features street front parking, as well as an occupancy of 91 with ample seating for 64 consumers. The leased property for this listing is zoned for commercial use and its included equipment is found in excellent condition. It showcases a skilled team of six nonunion waiters and bartenders that agree to remain post-purchase. During a smooth transition period of twelve months, several growth opportunities exist for an ambitious industry buyer, such as extending open hours to the entire week and increasing personnel. Referrals, location and reputation drive new patrons here, ample room for growth through company website, and increased marketing in general; there is a social media presence as self-promotion, which has brought in new customers. Company’s hands-on operations keep gross sales consistent as they forecast over $1.1 Million sales and close to $400K owner’s profit for 2021. Despite covid closures and working at 55% capacity on average, Total Revenues for 2020 grew and reached $990,310 alongside Seller Discretionary Earnings of $203,540. Based on an independent evaluation!
Holds occupancy of 91 with ample seating for 64 consumers.
Support & Training
Smooth transition period of 12 months.
Reason for Selling:
Approaching retirement and/or pursuing other interests.