Lucrative, Family-Owned Restaurant
Asking Price: $649,000
Sit-Down Italian Restaurant - Successful Even Through the Pandemic!
This restaurant has been a rock star standout during COVID. As other sit-down restaurants have struggled and sadly closed, this extremely popular, family-owned classic red sauce Italian restaurant has weathered the storm because of its popularity and community support.
In comparing weekly sales numbers pre-COVID to sales figures during the nineteen weeks that allowed for some level of indoor dining combined with outdoor patio/tent dining, this restaurant averaged only $1,000 less/week. During this time, the restaurant was open for both lunch and dinner service and repeatedly had a wait list. As of February 14, the restaurant is again open for indoor dining at 25% occupancy.
With changing health guidelines, fast decisions and nimble management and staff quickly shifted from largely in-house dining to curb-side pickup, takeout and delivery service. To meet demand, over the summer the restaurant installed a large tent for outdoor patio dining and customers returned with enthusiasm to enjoy the fresh ingredients and ambiance. Wait staff includes many long-term employees who are friendly and well-trained making the dining experience enjoyable and delightful.
The key personnel including front-of-house, kitchen and catering managers are in place for turn-key transition and operations for a new owner allowing for flexibility in on-site time requirements.
The restaurant is repeatedly voted one of the best Italian restaurants in the Albuquerque Metro area by Albuquerque Magazine and Yelp.
Restaurant currently has a beer and wine license which is not transferable to a buyer. A buyer will have to apply and qualify for a new beer and wine license which may take 4-6 months. The restaurant has a private banquet room for meetings and family gathers as well as catering capabilities for offsite events.
Cash flow for both 2018 and 2019 was in excess of $300,000; and almost $200,000 in 2020.
This is a fantastic opportunity to own a well-run, very established and incredibly popular restaurant. If you have 3-5 years of restaurant management experience, this could be the one for you!
2020 Gross Revenue | $1,478,000
2020 Cash Flow | $190,000
2019 Gross Revenue | $1,900,000
2019 Cash Flow | $325,000
FF&E | $500,000
Established | 1999
Employees | 28