Italian Restaurant in North Seattle - High Cash Flow


Asking Price: $895,000
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  Aaron Muller
Phone: 425.274.2092
Email: info@ACBrokersInc.com
 

Listing Information

Address: , North Seattle, WA,
Gross Income (last 12 months):
$1,944,242.00
Value of Furniture, Fixtures, and Equipment:
$150,000.00
Cash Flow (last 12 months):
$267,336.00
Included in Asking Price?:
Yes
Year Established:
1999
Value of Inventory:
$36,000.00
Number of full-time employees:
3
Included in Asking Price?:
No
Number of part-time employees:
37
Value of Property (if for sale also):
--
   
Included in Asking Price?:
No

Description


This is an extremely profitable and well-run Italian restaurant in North Seattle. Established for 17 years, this restaurant has grown to become a local favorite. Both revenues and cash flow have been consistently growing year after year. The staffing consists of three full-time employees (a general manager, a chef, and a sous chef), and 37 part-time employees (servers, bussers, kitchen staff, etc.) The owner is only at the restaurant in the morning for about two to three hours meeting vendors Monday to Friday; that is his only duty. The owner's wife does payroll twice a month, reconciles the bank accounts once a month, and pays payroll and quarterly taxes; it all adds up to about 10 hours max per month. The seller is going to relocate out of state. This is an exciting opportunity for a new owner to acquire a very profitable restaurant with limited owner involvement, and enjoy the cash flow while continuing to build the business to the next level.

Facilities / Location


The restaurant is very well located. The landlord is easy to work with. The restaurant looks great and the equipment is in good condition.

Competition / Market Pros & Cons


The restaurant is well-established with 17 years of history. With a general manager in place, the owner and his wife are hands-off for the most part. The restaurant is very profitable with growing revenues and cash flow year after year.

Growth and Expansion Pros & Cons


A new owner with fresh energy could potentially grow the business by adding brunch / breakfast, improving the bar, and spending more energy on marketing efforts.

Support / Training Available


Seller is willing to train. Details negotiable.

Reason for Selling


Seller is going to relocate out of state.

Any Financing Seller Will Provide?


Cash at closing. Broker can assist buyer in obtaining bank financing.

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