Italian Ice Company--Price Reduced NCListing DetailsOffice ID: ICE1 Status: Active Listing Broker: George Bradbury Listing Price: $65,000 Gross Revenue: $72,592 Cash Flow: $52,156 12 Month Forecast: $90,000 Forecasted Cash Flow: $60,000 Inventory: $2,500 Inventory Included: Yes FF&E: $55,200 FF&E Included: Yes Sales Structure: Asset Sale Seller Financing: Yes Home Based: Yes Reason for Sale: Owner is relocating. Training: Owner will spend 40 hours over a one-month period to ensure a smooth transition. OperationsYear Established: 2011 Form of Ownership: LLC Employees (contractors): 5 Managers: 1 Business Hours: By Appointment Summary Business Description: This business serves authentic New York Italian Ice Sorbet to customers or guests from its vintage carts, and retail location. They serve the most delicious water ice from five of their custom vintage carts or classic milk truck and include classically dressed servers, classic 1950's music, offering Champagne or Prosecco floats to their fully catered weddings and events clients. They believe in promoting a passion for nostalgia. They accomplish this through beautiful design, simple ingredients, and their desire to create a charming and reminiscent atmosphere. The classically dressed servers offer the highest quality Italian Ice Sorbet adding a hint of sentiment to any special occasion. Their fully catered business focuses on: weddings, corporate events, family events, graduation parties, Bat/Bar Mitzvahs, pool parties, birthday parties and neighborhood events. While the majority of their business comes from their years of experience and high standing in the weddings and corporate industries, their focus on festivals, farmers markets and Food Truck events continue to be a part of their business success. Historical Summary: This business was founded 8 years ago and has gone through some strategic changes over that time. First using carts to sell Italian Ices on the street and over time developing a plan to become a premier vendor to functions, i.e. weddings and corporate events. Owner Qualifications: Buyer should have general business management experience and enjoy customer interaction. Competition: Although there is no direct competition in the space regarding style, presentation or product, there are alternative offerings in both the lower end snow-cone companies and high-end ice cream companies. Jay’s Italian Ice, Kona Ice and Snowie Bus. As this company focuses on higher end clients for the vast majority of their weddings and events catering business the top competitors are: Andea’s Ice Cream, Two Roosters Ice Cream and Mama Birds Ice Cream. Potential Growth: The growth opportunities in expanding the retail space and its offerings will optimize business expansion and streamline the current business model. Franchise or licensing potential of this company should be considered when considering future potential growth. LocationType of Location: Commercial Center Monthly Rent: $350 Square Footage: 300 Facilities: The retail store is currently in a pop-up location in a busy and vibrant part of a major city in North Carolina. Last Updated: Sep 17, 2019 / 1:58 PM Financial Information Current As Of: May 21, 2019 / 4:44 PM  |
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