Busy Italian Pizza, Pasta, Wine & Beer Restaurant

Colorado Springs, CO
El Paso County


Asking Price: Annual Revenue:
$490,000 $954,000

Food & Beverage: Restaurants, Fast Food, Deli


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RE: Busy Italian Pizza, Pasta, Wine & Beer Restaurant Broker: Jeff Chapman Eisnaugle
Owner Financing is Available!
10%

Quick Facts

Asking Price: $490,000
Annual Revenue: $954,000
Net Profit: Not Disclosed
Cash Flow: $221,000
Total Debt: Not Disclosed
FF&E: $160,000
Real Estate: Not Disclosed
Year Established: 2019
Employees: 6
BBN Listing #: 923862701
Broker Reference #: Not Disclosed

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Business Overview:

New Concept, Very Profitable Italian Pizza, Pasta, Wine, and Beer Restaurant in Booming North Colorado Springs

The Sales Price has been lowered on 5/19/21 from 540K to 490K while the revenues and earnings are improving with Colorado returning to normal.

The 2019 revenues were 954,430 with adjusted earnings of 221,752. This restaurant did 954K in its first full year in 2019 which is a very good number for a 2,400 square foot restaurant with a patio. January and February of 2020 were higher than 2019’s January and February and then Covid happened. This restaurant most likely would be selling for a lot more than he is currently asking if it were not for Covid. The trailing 12 months revenues from April 1 2020 to March 31 2021 were 717K with earnings of 183K.

You will get approximately more than 160K in very high quality almost brand new assets debt free! This is large pieces of equipment including top tier “True” refrigerators and freezers, top of the line cooking small equipment, double rack CMA dishwasher and glasswasher, a special Diving-arm mixer imported from Italy ($16k!!) and a very expensive and functional authentic Italian pizza oven which cooks at over 1,000 degrees. The total assets also include top of the line fixtures and very expensive barn-reclaimed custom furniture.

The owner is passionate about respecting how Italy prepares and cooks food in authentic style. With this understood, the owner over time has adjusted the menu to local tastes introducing other 5 star items. He has expanded the bar with TVs and full alcohol service. He understands that the new owner may make some changes but believes that the he/she should keep the most popular Italian themed pizzas and pastas.

They have many loyal customers which has resulted in an increasing percentage of recurring business. Facebook has them rated 4.8 stars. Google Rates them 4.4 stars with 760 Reviews. Trip advisor 4.5 stars and open table 4.5 stars. The restaurant is open from 11AM to 8PM most days and then 9PM over the weekend. After COVID he is planning on extending the closing hours by an extra hour. It is currently closed on Mondays.

This is a “Fun” business to own, has lots of potential, things like open back on Mondays, expand the menu with more American items, expand the bar, etc are just few of the many possibilities for the new owner.
The restaurant has loyal employees and customers. Reason why he is selling? He has never lived in cold weather and hates winter. He and his wife are moving to a warmer place.

The sales price has just been lowered to 490K plus food and beer inventory which is estimated to be around 20k. This is an asset sale with a net zero debt transfer transaction for the buyer.

Details:

This restaurant has had many articles written about it and has won several awards. The restaurant has a large patio and is open for lunch and dinner, has an open kitchen, a bar with 6 bar stools, a chef’s table with 6 stools, leather booths, custom made tables (including an eight seat community or family table), two modern clean bathrooms, and a patio with both a gas fire pit and 5 propane heaters as needed. The restaurant carries a full liquor license and the owner is currently doing virtually no advertising.
The restaurant is kept very clean and the equipment is in great shape, almost new, and has regular maintenance.

The location is one of the many reasons that this opportunity is so valuable. It is located in a fairly new, beautiful, developing area with a lot of vacant land which will be developed soon. The lease is a original 10year at 6,800 per month plus common area maintenance and property taxes for 2,400 square feet plus a patio. Their location is a fast growing part of Colorado Springs. There are gas stations, several shopping centers, a grocery store, etc which are all fairly new along the same street.


Thank you for your consideration,

Jeff C Eisnaugle
Business Broker Colorado, LLC

To request more information regarding this listing, simply check the ADD TO REQUEST INFO BASKET button and when you are done searching and have made all your selections, simply click on the REQUEST INFO button at the bottom of the page.

Property Features and Assets:

The restaurant has a large patio and is open for lunch and dinner, has an open kitchen, a bar with 6 bar stools, a chef’s table with 6 stools, leather booths, custom made tables (including an eight seat community or family table), two modern clean bathrooms, and a patio with both a gas fire pit and 5 propane heaters as needed. The restaurant carries a full liquor license and the owner is currently doing virtually no advertising. The location is one of the many reasons that this opportunity is so valuable. It is located in a fairly new, beautiful, developing area with a lot of vacant land which will be developed soon. The lease is a original 10year at 6,800 per month plus common area maintenance and property taxes for 2,400 square feet plus a patio. Their location is a fast growing part of Colorado Springs. There are gas stations, several shopping centers, a grocery store, etc which are all fairly new along the same street.

Market Competition and Expansion:

They have many loyal customers which has resulted in an increasing percentage of recurring business. Facebook has them rated 4.8 stars. Google Rates them 4.4 stars with 760 Reviews. Trip advisor 4.5 stars and open table 4.5 stars. The restaurant is open from 11AM to 8PM most days and then 9PM over the weekend. After COVID he is planning on extending the closing hours by an extra hour. It is currently closed on Mondays. This is a “Fun” business to own, has lots of potential, things like open back on Mondays, expand the menu with more American items, expand the bar, etc are just few of the many possibilities for the new owner.

Reason for Selling:

The sellers are moving.

Additional Details:

  • The property is leased.
  • The owner is willing to train/assist the new owner.
  • This is not a homebased business opportunity.
  • This is not a franchise resale opportunity.

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