Phone: (301) 215-9288
Price: $350,000
Location: Hanover, MD
Industry: Food and Beverage, Italian Restaurant
Listing ID: MZN-436
Long time and loyal employees are huge valuable assets for this company. They serve variety of delicious Italian food and Pizza. They provide extensive amount of catering to customers in their database and new customers. This is one of the most popular Italian restaurants with over 32 years of successful operation. Sales of $1,945,000 and Cash Flow of $289,480 is according to tax return for 2019. In 2018 revenue was almost $1,871,000 and owner made $298,000 cash flow. The business revenue like every other restaurant was impacted by COVID-19 in 2020 and generated $1,263,000 in revenue and this tear revenue has been growing nicely. . Owner is selling this business with a discounted price and if it was not COVID in 2020 the business would have had a value over $750,000. Now this is a great opportunity for someone to take over this business and grow it to the level it was in 2019
Listing Details
Revenue: $1,945,000
Cash Flow: $289,000
EBITDA: $230,000
FFE: $100,000 (Included in Price)
Inventory: $5,000 (Included in Price)
Real Estate: (Included in Price)
Reason For Sale:
Owner is semi retiring
Training & Support:
Owner will provide two weeks of training free of charge and beyond that with mutually agreed term.
Operation
Year Established: 1989
Year of Last Acquisition: 1989
Days & Hours of Operation: Mon.–Thurs., 11:00 a.m.–9:00 p.m. Fri., 11:00 a.m.–10:00 p.m. Sat., 4:00 p.m.–9:00 p.m. Sun., Closed
Owner Hours Per Week: 30-40 hours
Non-Owner Payroll: $10,157
Employees: 18
Managers: 1
Location
Lease Option: Negotiable
Monthly Rent: 11157
Type of Location: Shopping center
Square Footage: 4443
Relocatable?: Yes
Facilities Information:
This beautiful restaurant is located a great location and has convenient seating arrangement with lots of kitchen equipment.
Summary
Competition:
This business has been in existence over 32 years, it has loyal employees who provide excellent food with outstanding service and for these reasons this attractive restaurant stand above any competition.
Potential Growth:
- The business has been growing and there is huge potential to take it back to the level it was in 2019. Catering is a large part of this business and has great potential to grow with more marketing and advertising.
(Mike) Majid Zarinbaksh, MBA, CBI, M&AMI
[email protected]
(301) 215-9288
Address:
7735 Old Georgetown Rd., Suite 910
Bethesda, MD 20814