Owner-Absentee 30+ Year Established Italian Restaurant 001168
Owner-absentee full-service 30+ year established, the original Italian restaurant under its name in the metroplex is available for acquisition. Due to its popularity, multiple locations have opened up since its establishment 30+ years ago. This business is operating in a 3,021 SF retail strip on the intersection of busy roads in the area near a highway with heavy traffic and densely populated residential neighborhoods in all 4 directions. This business is fully staffed with competent employees who have been with the business and with a manager in place, the owner is able to tend to other businesses without too much involvement in the daily operations.
The current owner acquired the business in September 2018 and the overall sales have been consistent for the next few years despite the pandemic. The average gross annual sales for the last 3 years have been approximately $860,000/year. Since the owner owns multiple other businesses, the owner simply cannot dedicate his time on marketing to further grow the business. Since the majority of the customers are regular customers from the nearby area, not much direct marketing is necessary, but an active owner can be proactive on online and social media marketing to fully acquire new customers from the untapped area. Because it is an absentee-owner operation, sometimes the employees are not able to maintain consistent business hours. The owner-operator may enforce more strict guidelines for the employees to show up and close on time to have consistent business hours at all times and not lose out on potential sales.
This restaurant serves made from scratch NY-style pizza, homestyle pastas, salads, baked specialties, subs, traditional chicken, veal, and seafood dishes. There are multiple avenues to maximize potential growth. The owner-operator will definitely reduce the payroll expense, food cost, and maintain better customer relationships. The owner could promote the slower hours of the day by offering lunch specials and by obtaining a TABC license to sell alcohol, to increase overall sales. The in-house delivery service can be offered as well to serve the local clientele without unnecessary additional fees charged by the third-party companies. This well-known and established restaurant has everything in place and a great opportunity for an active owner to reap the financial benefits.
Focus on other businesses.
The owner of the business will provide the necessary training needed to smoothly transition into the business operation.
This business resides in a 3,021 SF retail strip center and is located in the same shopping center of the national chain discount stores, which generates natural foot traffic to the area. This business is conveniently located close to the entrance and is easily visible from the bypassers. Many single-family homes and apartments surround this business in all four directions.
All equipment has been maintained well and major kitchen equipment has been replaced since the acquisition.
The competition is virtually non-existent. No other similar restaurants have been operating as long as this restaurant.
A full-time owner-operator would be ideal for running the business to eliminate management salary and to actively market and promote the business.
There is minimal marketing being done. A proactive direct marketing, such as lunch specials, flyers and coupons and more online and social media presence would help acquire customers from the untapped areas of the city.
By acquiring a TABC license to sell beer, wine, and spirits will immediately increase the overall sales.
The patio is not being used at all. Utilization of the patio by adding lights and adding commercial umbrellas would attract more customers and additional overall sales.
100% down at the time of closing or 50% Cash Down with SBA Financing for Qualified Buyers with Industry Experience.