Casual Fine Dining Priced Below Market

Undisclosed Address, Maine
Business Opportunity for Sale
Catylist Listing ID: 30745628
Property Subtypes: Food and Beverage
Building Size (RSF): See Agent
Sale Price: $149,000
Gross Revenue: $814,000 (Annual)
Cash Flow: $172,000 (Annual)
Last Updated: 11/22/2021

Overview / Comments

At this popular Italian restaurant, customers can enjoy the classics as well as explore innovative, lesser-known dishes. The owner's commitment to using locally sourced, fresh ingredients is reflected in the nightly specials and seasonally-focused menu. Customers love the ambiance and the versatile offerings – everything from small share plates to entrees – as well as the extensive wine list and thoughtfully created craft cocktail list.

Business strengths include:
• Known for providing high-quality, seasonal food with attention to detail.
• Great relationships with local farms and purveyors.
• Customers rave about excellent service that goes above and beyond.
• A very large group of regular diners who visit year-round.
• Strong social media following.
• True turn-key opportunity. Management is in place.

Additional Details

Industry Segment: Restaurants
Value of Inventory Included ($): $0
Value of Furniture, Fixtures, and Equipment ($): $0
Real Estate Status: Leased
Value of Real Estate Included ($): $0
Employee/Labor Description: 7 FT (including owner)/10 PT
Mgmt/Training Support Description: The current owner wants the business to be a success for the new owner, its employees, and its customers. As such is willing to assist in the training and transition of the business.
Growth/Expansion Opportunities: There are a number of growth opportunities. Brunch and lunch are easy culprits as the community could easily support those offerings. The restaurant currently dabbles in event catering but has not gone “all in.” Additionally, there is more than enough business to open an extra day each week with additional staff.

Contact

Photograph of Listing Agent

Scott Balfour

Magnusson Balfour Commercial & Business Brokers
NECPE Member
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