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PRICE REDUCTION - Semi-absentee Italian Restaurant

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Virginia Beach, Virginia (Virginia Beach city Co.)   |  Businesses for Sale Between $50k and $100k

Asking Price:
$65,000

Gross Revenue:
$239,914
Cash Flow:
$50,951
(Seller's Discretionary Earnings)

EBITDA:
 Not Disclosed
Inventory:
$7,000
included in asking price

FF&E:
$65,000
included in asking price

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Business Description

Numbers up almost 10% from 2014 to 2015! This restaurant has succeeded 30+ years even through multiple recessions and still does well. The OWNER MUST RETIRE as his wife has medical issues to deal with.

Key Investment Considerations:

• $240k in sales in 2015. Up $20k+ over 2014!
• Family run restaurant that has been in business for 30 years in the same Virginia Beach location - 12 years under current ownership.
• Huge income growth potential by opening for breakfast, open Sunday for church crowd and expand beer and wine license to include alcohol.
• Owner financing available!!!
• $65,000+ in furniture, fixtures and equipment.
• $7,000+ of Inventory included in sale.
• New rooftop HVAC unit installed in 2014.
• New plumbing in 2015.
• Newly signed one-year lease with five one-year options. Rent is fixed for next three years!
• Essentially, zero advertising dollars are spent driving traffic into the restaurant.

As always, other brokers with qualified buyers are welcome to inquire about any of our opportunities. Bring your qualified buyers!!!

About the Business

Year Established:
1986
Number of Employees:
7
Real Estate:
Leased
Building Sq. Ft.:
1,500
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About the Sale

Reason For Selling:
retiring
Training/Support:
4 weeks

Listing Info

ID:
1318955
Ad Detail Views:
462

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Business Listed by

Lex Meredith

Transworld Business Advisors

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