NEW LOWER PRICE! Very Profitable Pizza, Pasta, Wine & Beer Restaurant in a Booming Area in North Colorado Springs CO
The Sales Price as of 4/7/21 has been Lowered from 590K to 540K while the Revenues and Earnings are Improving with Colorado returning to Normal.
The 2019 revenues were 954,430 with normally 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.
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 equipments, 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 is 540K 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.