SOLD – High Volume Casual Italian Restaurant with Bar
A fast-casual Italian cafe with a full bar is now available for acquisition. This restaurant is an authentic Italian restaurant with 24 years of legacy located in the heart of an affluent community in Northwest Dallas. This business was established in 1997 by the current owner. This business occupies a 3,100 SF end-cap space of a retail/residential mixed-use building surrounded by numerous restaurants, retail businesses, luxurious condos/apartments, and office buildings. The area where this business is located is well known as a central business district of this area. There are also many tourist attractions in this area that bring consistent foot traffic for this business. This restaurant serves every menu that an authentic Italian restaurant offers, such as appetizers, soups, salads, sandwiches, pasta, pizza, chicken, seafood, beer & wine, coffees & desserts, kid’s menu, etc. In addition, on Saturdays and Sundays, a brunch is also served, where they serve brunch menus such as omelets, pancakes, waffles & crepes, skillet, etc. The restaurant has a unique business model. During only lunch hours, this business adopts the concept of “Fast Food Service” to provide menu items quickly. The customers stand in line to order food, and the food is prepared at the pay station. Dinner is converted into full-service, where customers are served at the table by servers. Most of the customers are individuals and families from the nearby densely populated residential neighborhoods and corporate employees from the office buildings. Competition is expected as the restaurant operates in the hub of a prime spot for restaurants. However, there is no other authentic Italian restaurant in the immediate market area, while some pizzerias are nearby, none of which is considered as any threat. Gross sales of this business have remained remarkably consistent for 24 years running at around $2M per year. Revenue went down slightly in 2020 due to Covid-19, but it quickly recovered in 2021 and is now on track to exceed 2019 (pre-Covid year). Catering is the key to the further growth of the business. Marketing efforts on increasing catering business tailored to nearby corporate offices and headquarters, medical offices, car dealerships, and churches can also significantly improve the sales as a catering business still has room for growth. Also, more marketing efforts on delivery and take-out service, including 3rd party delivery, can considerably improve the sales as the demand for delivery and take-out service is growing than ever after the COVID-19 outbreak. By expanding 3rd party delivery service providers, the operation can be streamlined and help reduce the workload for doing in-house delivery. Acquisition of this 24-year established authentic Italian restaurant will give a new owner access to a well-established restaurant with considerable cash flow and a solid customer base built for more than two decades that can be further expanded thru proactive marketing and by tapping into new business opportunities.