Free Restaurant!

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Asking Price:
$259,000

Gross Revenue:
$702,679
Cash Flow:
$184,167
(Seller's Discretionary Earnings)

EBITDA:
 Not Disclosed
Inventory:
 Not Disclosed

FF&E:
 Not Disclosed
included in asking price

Real Estate:
 Not Disclosed

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Business Description

Well, sort of. The asking price is close to, if not equal to, the fair market value of the liquor license alone. It’s like getting the restaurant for little to nothing. And, yes, inventory, furniture, fixtures, and equipment are included in the asking price. This is an exceptional opportunity to carry on a 25+ year tradition or bring your own vision to start a new tradition.

Currently, this restaurant serves upscale Italian cuisine representative of the major regions of Italy. Menu items are prepared using the freshest and finest quality ingredients that cater to a solid and loyal clientele. There is an award winning wine list that offers an extensive array of choices as well as a wide selection of single-malt scotches, unique bourbons, cognacs, armagnacs, brandies, cordials, and aperitifs.

About the Business

Facilities:
This restaurant features an old world, 17th century, Italian villa décor in the main dining room and private banquet room. There is also a warm, cozy bar/dining room and a well maintained, fully equipped kitchen. (Indoor restaurant space.) In addition, this leased facility includes an adjacent office/storage space as well as an alfresco dining area for use in good weather. The total leased space equals 3,670 square feet (3,121 SF of indoor space) with 95 seats.

Excellent demographics in and around the town with a new 23+ acre residential/commercial development directly across the street yielding 500+/- potential customers in walking distance. Also, many large and small businesses are within close proximity as are portions of Rutgers University and Robert Wood Johnson Barnabas Health System. Significant, and growing, vehicle flow in front of the restaurant provides high visibility. Combined, this end unit facility has access to an excellent target market.
Growth & Expansion:
Dinner is the primary revenue generator. Lunch is an area that needs attention and could produce more revenue. Catering is another area that could be added. Finally, Sundays (currently closed on Sunday) could be available for smaller weddings and similar personal events. Catering and/or brunch and/or dinner also offer revenue possibilities on Sunday.

The owners believe a modification of the layout to create a more cosmopolitan feel would be appropriate for the area, and additional menu items including gourmet pizza and tapas-like offerings could entice additional patrons.
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About the Sale

Training/Support:
Sellers are willing to negotiate an appropriate period of transitional support. In addition, it is anticipated current employees will remain with a new owner.

Listing Info

ID:
1407448
Ad Detail Views:
89

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$
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Business Listed by

Greg Price

Crossroads Business Transition Group, LLC

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Source: Decennial Census (2010), United States Census Bureau.

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Source: American Community Survey (2010-2014), United States Census Bureau.

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