Established, Profitable Pizzeria . Owner Looking To Retire
NCListing DetailsOffice ID: PIZZA5
Status: Under Contract
Listing Broker: George Bradbury
Listing Price: $225,000
Gross Revenue: $550,000
Cash Flow: $81,000
12 Month Forecast: $600,000
Forecasted Cash Flow: $90,000
Inventory Included: Yes
FF&E Included: Yes
Sales Structure: Asset Sale
Seller Financing: Yes
Reason for Sale:
Owner is retiring
The owner will work with a buyer for 30 days to insure a successful transition.
OperationsYear Established: 10
Last Acquired: 2010
Form of Ownership: S Corp
Employees (full-time): 3
Employees (contractors): 4
Business Hours: Mon-Sun 11-10
This pizzeria was purchased from previous owners almost 10 years ago and these owners have established this business as one of the most popular pizzerias in Raleigh. They have increased revenue year after year. From 2019 to 2020, revenue increased by 100k and it is on pace for another 100k increase this year. All this has been accomplished without reliance on delivery apps, no online ordering, and no POS system to better map out deliveries. There is still plenty room to grow this business. One of the 2 owners is looking to retire and will consider financing a portion of the sale for the right buyer.
This location has been historically a very successful for a pizzeria. There has been an Italian restaurant in the same place for almost 30 years.
The buyer will need to have general business experience including employee management, customer relations and general accounting. Restaurant experience a plus.
There are the usual chain pizza places in their market, but no authentic Italian restaurants.
The restaurant currently does not use online ordering. It is felt the online ordering would increase sales for the customers that prefer it and would increase efficiency lowering costs. Currently the restaurant only uses their own drivers, using delivery apps would increase their appeal to a broader customer base.
LocationType of Location: Shopping Mall
Lease Expires: Mar 1, 2023
Option: 5 year
Lease Security: $4
Monthly Rent: $3,900
Monthly Common Area Maintenance: $800
Square Footage: 1796
The facility is located in busy shopping center with large box stores as anchors. There are 1,796 square feet.
Last Updated: Dec 16, 2021 / 4:59 AM
Financial Information Current As Of: Dec 28, 2020 / 11:59 AM