Package Deal – Long Estalished Italian Restaurant and Tex Mex Cantina 001170
Long established family-owned local favorite restaurants as a package deal is available for acquisition. The Italian restaurant has been serving the local patrons for over 30+ years and the Tex Mex restaurant for over 20+ years. The current owner acquired the Italian restaurant in July 2018 and Tex Mex restaurant in late 2019 and spent a considerable amount to renovate and bring city codes to date. At the moment, the owner is working part-time at Eddie's Napoli's while Mexicali Tex Mex is operated as owner-absentee and it makes it possible for the owner to manage both locations easily due to their close proximity to each other. Both businesses are fully staffed with long-tenured and competent cooks that have been with the business long before the acquisition.
The Italian restaurant's average gross annual sales for the last 3 years have been approximately $860,000/year and 2022's average monthly gross sales have been approximately $65,000. Since the owner owns multiple other businesses, the owner simply cannot dedicate his time to 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 in 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, and 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 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.
The overall sales for the Tex Mex restaurant since the acquisition have been consistent, during the pandemic year in 2020, the average gross monthly sales were $60,000 and in 2021 has recovered to $69,000/month. Despite the long length of the establishment and the regularly returning customers, there is still room for growth for an active owner-operator. The new owner may immediately reduce the manager's salary by replacing him, be more proactive with online marketing to establish more presence on social media outlets to attract new customers, and be more aggressive to acquire corporate accounts for catering to many businesses in the surrounding area.
This business serves homemade style and traditional Mexican dishes as well as infusion of Tex-Mex including appetizers, soups and salads, grilled entrees, quesadillas, daily specials, etc., and beer, wine, margaritas, and spirits. This restaurant runs itself with an already a fully competent staff in place, which makes it possible for the owner to be involved in other ventures.
This well-established restaurant resides in a 3,150 SF retail strip center with an enclosed patio for extra seating and is located on the intersection of two of the heavier traffic roads in the city.
Both businesses have been serving the community for a very long time and have established a strong loyal customer base. This is a great opportunity for a family who can be involved in both locations to reduce the payroll expense, proactively market the businesses, and increase the overall sales by being involved in the day-to-day operations by being present at the location to ensure quality control and maintain good relationships with the patrons. Due to its close proximity and a fully competent and experienced staff, the owner(s) can concentrate on higher-level management and still reap its financial benefits.
Focus on other businesses.
The owner of the business will provide the necessary training needed to smoothly transition into the business operation.
The Italian Restaurant operates 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 Tex Mex operates in a 3,150 SF retail strip center on the intersection heavily surrounded by single-family residential homes in all 4 directions. This business features an enclosed patio.
The interior was renovated in late 2019 shortly after the current owner acquired the business.
All equipment is in good working condition.
The distance between the two locations is less than 3 miles and it is convenient and easily managed by the owner.
The competition is virtually non-existent. No other similar restaurants have been operating as long as these restaurants.
There are a few direct competition, but there are on the other side of the highway and does not create any financial impact.
For both restaurants, a full-time owner-operator or a family 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 flyers and coupons and more online and social media presence would help acquire customers from the untapped areas of the city.
For Eddie's Napoli's, 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.
For Mexicali Tex Mex, the proactive owner may acquire more corporate catering accounts from nearby churches, auto dealerships, and industrial warehouses to increase the overall sales.
100% down at the time of closing or 30% Cash Down with SBA Financing for Qualified Buyers with Industry Experience.