Broker Name:Moon Kim
Broker Email:info@v-aidgroup.com
Broker Phone:1-866-519-2421
Broker Address:2727 LBJ Freeway #775 Farmers Branch, TX 75234
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19-Year Est. Freestanding Pizza & Pasta Restaurant with Real Estate
(Restaurants)
Tarrant, Texas
Listed Price: $ 879,000
Listing ID: 000956

Listing DetailsDown Payment: $ 175,000
Gross Revenue: $ 651,372
Cash Flow: $ 188,269
FFE: $ 50,000 (Included in Price)
Real Estate: $ 650,000 (Included in Price)
Inventory: $ 3,000 (Included in Price)
Reason for Sale:

Retirement


Training & Support:

Owner will provide a sufficient training for an agreed upon period to make the transition into the business as seamless as possible.


Listing SummaryBusiness Description:

19-Year pizza & pasta restaurant in a prime location close to a well-known university in East Fort Worth is now available for acquisition. The business was originally established 19 years ago in 2001 by the previous owner and was acquired in 2017 by the current owner of the business. The current owner remodeled the restaurant in 2017. This business in a 2,812 SF of freestanding building is located in a hard corner on busy intersection which is a couple of blocks away from well-known university of a city. This university reportedly has over 42,000 students which attract tremendous traffics to the area. This business has served delicious and various menu items for almost 2 decades that can range from appetizers, salads, Neapolitan style pizzas, pastas, stuffed pizzas, stromboli & calzone, hot/cold subs etc. Competition is expected for this type of business industry, but this business has built a strong customer base for 19 years which consists of many regular loyal customers while also having been established much longer than any competitors in the area. Overall demographics of this pizzeria are mostly middle-class individuals in various ethnic groups from the surrounding densely populated residential neighborhoods and lots of students from nearby renowned university. Gross sales have been around $684K per year that has been consistent since the current owner acquired this business. Currently, minimal to none marketing is in place by the current owner, but proactive marketing methods such as launching a business website, social media outlets presence, email marketing, direct mailing, web-based advertisements, expanding 3rd party delivery service provider, etc. are needed to be fully utilized to achieve maximum income potential. With its prime location and strong product line, coupled with those pro-active marketing and new owner's active involvement in day to day operation will possibly bring the sales up by double digit rate every year considering the current sales are achieved only thru a word of mouth. This 19-year established pizzeria is looking for an energetic, creative entrepreneur who can take this legacy of this restaurant to the next level.


Competition:

Competition is inevitable in this type of restaurant, but this is the oldest pizza restaurant in the town, which has been in operation for 19 years. The business is optimally placed in a hard corner nearby "huge" categorized university in a city and is easy to access with great visibility than other competitors.


Potential Growth:

Currently, minimal marketing is done by the current owner of the business. Website needs to be launched which also features in-house online-ordering capability. Since online presence is very weak, pro-active online marketing is needed such as social media outlets, Google & Yelp, email marketing, web-base advertisement, etc. to expose itself to public and local customers. Expanding 3rd party delivery service provider beyond just Grubhub to others can generate more sales.


Financing/Terms:

100% down at the time of closing or 20% Cash Down with SBA Financing for Qualified Buyers.


LocationSquare Footage: 2812
Facilities:

The business is occupied in 2,812 SF of freestanding building situated on a hard corner with a great visibility to the tremendous traffics on the intersection. The restaurant is located in a couple of blocks away from reputable university of the city where reportedly about 42,000 students attend. Equipment is relatively old but well-maintained in good working condition.


OperationYear Established: 2001
Employees: 8FT/2PT
Absentee Owner: No