Listing Number: 189597-293104
Description
Neighborhood favorite Italian Pizza Restaurant and Wholesale Bakery. There are three sources of revenue – the restaurant, wholesale bakery, gelato shop. Total sales are 2.75M (Restaurant 1.625M, Bakery 850k, Gelato 275k). Restaurant serves breakfast, lunch and dinner with freshly baked goods made on premises. Pizza is cooked in wood fired brick oven. Wholesale bakery operates in basement of same building and works overnight, bakes all fresh goods for the pizza restaurant upstairs and sells to high-end restaurants in Manhattan. Bakery does 70k/month in only it’s third year, all with no marketing. Huge upside to expand the customer base. Gelato shop (under the same brand name) is across the street and does 275k in sales. Management structure is such that the ops manager controls all day to day operations and reports to the owners. Under the ops manager, there are 2 other managers who manage 22 employees. Owner's only responsibility is managing the finances, which requires approximately 10 hours/week of work. Sellers own the property and will give a long lease. Liquor license included in the sale. One of the owners is relocating which is the reason for the sale. This business is pre-approved for a SBA 7(a) loan with only 10% down!
Listing Details
- Price: $1,500,000
- Down Payment: $165,000
- Sellers Discretionary Earnings: $500,000
- Total Sales: $2,751,422
- Location: Kings County, New York
- Inventory: $100,000
- FF&E: $350,000
- Employees: 22
- Year Established: 2013
- Reason for Selling: Retirement
- Category: Restaurants
