Owner Financing is Available!
Business Overview:
MegaBite Restaurant Brokers LLC offers, for your ownership consideration, an Italian Ristorante serving pizza, pasta, chicken, veal and seafood. This is a casual upscale Italian restaurant with a well established customer base. The business can be grown in several ways and will continue to benefit from the developing local residential and retail communities. The founder opened the restaurant in April 2008 and successfully developed the menu and customer base. Sales have increased steadily. In early 2010, the founder decided to return to college and sold the business to the current owner. The asking price for the assets of the business is $77,000 with $50,000 down and owner finance of $30,000. The assets include inventory at cost of $3,000. FF&E (Furniture, Fixtures and Equipment) are valued at about $45,000. Purchaser will need to assume 1) Dish Washer Lease (approximately $160 per month, 2) Ice Machine Lease (approximately $160 per month)
For more information regarding this listing please contact us by completing the "Contact the Seller" form to the left. We look forward to hearing from you.
Property Features and Assets:
Approximately 2,500 Square Feet leased for total rent of $5,003 including triple net with a large seating area, 2 offices, 2 bathrooms, 2 storage rooms and walk-in refrigeration (200 Square Feet). The 5-year lease expires in 2015. The seller believes that the landlord is willing to provide lease extensions and options to a qualified tenant.
Market Competition and Expansion:
This is a strong location with excellent potential. A new owner can continue to grow the business and profits in several ways: Add beer & wine, increase flyer and coupon ads, accept more deliveries, Add signage to other side of the building, Purchase an ice machine, use Groupon email coupons, expand delivery service.
Reason for Selling:
Relocation due to spouse's career.
Additional Details:
- The property is leased.
- The owner is not willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This is not a franchise resale opportunity.