THERE IS A PENDING OFFER ON THIS LISTING. This is an extremely profitable and well-run Italian restaurant in North Seattle. Established for 19 years, this restaurant has grown to become a local favorite. The staffing consists of eleven full-time employees, and twenty six part-time employees. A general manager is in place. 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.
The restaurant is very well located. The premise is approximately 3,000 square feet.
Competition / Market Pros & Cons
The restaurant is well-established with 19 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.
Seller Will Provide?
Cash at closing. Broker can assist buyer in obtaining bank financing.
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