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Connecticut Restaurants Business For Sale 26795

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Restaurants Businesses For Sale
UNION BAY GROUP
3401 Evanston Ave. N. Ste. A
Seattle, WA 98103
UNITED STATES

p.2067831717
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Category: Restaurants SIC:
Detail: N/A Price: $299,900
County: Down: $210,000
State/Prov.: CT Adj Net: $135,000
Country: USA Sales: $884,000
Relocatable No Home based No Franchise No Lender pre-qualified No
This Pizza restaurant has been here for over 50 years. The current Owner over 12 years. He has another restaurant in another town, a food truck, and a painting business. He finally realizes he is overextended and needs to cut back ? hence the sale of this small Pizza restaurant.

It is located in a shopping center with 43 stores surrounded by 4 other shopping centers with +/- 87 stores. Busy location ? yes! The traffic count is over thirty thousand cars per day passing in front of these shopping centers.

This is a quaint traditional pizza restaurant with 2 Blodgett ovens. In 2019 at the International Pizza Expo in Las Vegas, the owner was ranked as the premier figure in pizza making, (#2 in the northeast and #13 worldwide).

The restaurant is 1,100 s.f. It has 38 seats with16 tables. Serves wine & beer and has a raised area in the front of the dining room used for comics, karaoke, and 3 person bands etc.

Sales for 2017 thru 2020 have averaged $636,933 per year ($12,249 per week). At this volume, the Owner?s Cash flow would be estimated at +/- $113,000.

New Owner sales (after the co-vid pandemic is under control) are being projected at $884,000 ($17,000 per week). At this volume, with the increases in costs, the Owner?s Cash Flow is estimated at +/- $135,000.

After an offer has been accepted, the Buyer will have up to 3 weeks to check the restaurant's sales and operations in the restaurant which would include computer POS checking too.

The menu is interesting. It has small plates of Caprese, bruschetta, fried mozzarella, wings, fried calamari, pasta Fagioli soup, stracciatella soup, and garlic bread.

Salads, all kinds of Pasta, and, of course, pizza, calzones, and gourmet pizzas. They even have seafood dishes, wedges, and a kid?s menu.

Hours: Monday ? closed, Tues, Wed, Thur, & Sun 11 ? 10, Frid & Sat 11 ? 11.

Rent is $2,258,67 per month plus nets of $2.52 psf totaling $2,489.67 per month ($29,876.04 per year). The landlord must approve. A new lease will be written.

POS computers are located in the waitstaff area and the counter area. Printers in the counter order area, pizza area, and kitchen. 16 camera security system.

The owner might offer some financing if qualified: 20% of the offered price at 7% interest over 3 years.

The owner works here 1 or 2 days a week when he can. There is a full-time chef (here 4 + years)m 2 pizza makers (here for 9 & 4 years), a dishwasher, phone Order person, counter person, and kitchen helper. Payroll for the current Owner is +/- 210,976 (23.9% of the $884,000) and something less for a New Owner working full time in the business.

Pricing Method Used.

It is estimated that this business will average +/- $17,000 per week. The sales percent for Pizza restaurants range from 30% to 40%. Calculating the value: use the middle of the percent range 35% and multiply it by $884,000 ($17,000/week times 52) equals $299,900 rounded down + inventory. This is the Asking Price.

Interested buyers MUST sign our Confidentiality Agreement and fill out the Questionnaire before any additional information is received or a meeting is scheduled to view the business, or the location disclosed. Forms are available at this Listing, on our website, (from the link in front of the pictures) or can be e-Mailed to you upon request. Detailed financial information showing ability to purchase and proof of funds may be required before a meeting or conference call is scheduled.

A/R: Real Estate: $
Inventory: $ Other Assets: N/A
FF&E: $ Total Assets: N/A
Leasehold: $ Included: N/A

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