Franchise Resale Restaurant

Business Overview:

Don't miss the opportunity to acquire this popular and profitable spot that is currently a family pizza and Italian food restaurant franchise or you can bring your own concept. It is currently a regional franchise in operation for over 21 years available for purchase but not required. This restaurant has all the equipment, walk-ins, hoods and ovens to make it your own. They currently provide an extensive menu of delicious authentic Italian food, fettuccine, tortellini, ravioli, spaghetti, lasagna, salads, soups, sandwiches, steak, chicken, calzones, pizza and desserts for dining in, delivery or take out. They, also, offer beer and wine.

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Property Features and Assets:

The well designed kitchen make for optimum flow of food preparation and delivery. There is 2,115 sq ft at $3,838.61/month. The lease is currently a month-to-month agreement. The Landlord will give a 5 year lease and 5 year option to an approved Buyer. Terms to be negotiated with the Buyer and the Landlord.Assets = $218,270

Market Competition and Expansion:

IBIS World reports that consumers regard dining out as a small, yet affordable, luxury. During the current five-year period, revenue growth was supported by a significant shift in consumer expenditure to quick-service dining items as consumers opted for lower-priced meals. For example, consumers have indicated a preference for quick-service pizza shops, where pizza can be ordered online, rather than traditional sit-down pizza restaurants. However, other factors have offset rising demand, including a rising health consciousness movement among consumers, in addition to a rising level of competition from supermarkets, meal delivery kits and other fast-food restaurants.Revenue is projected to expand over the five years to 2027, due in part to rising per capita disposable income and, subsequently, higher levels of consumer spending. Over the five years to 2027, revenue for the Italian Restaurants industry is forecast to climb at an annualized rate of 1.5% to $79.8 billion. The industry's growth prospects will likely inspire new companies to enter the industry. During the same period, the number of industry enterprises is expected to increase at an annualized rate of 2.8% to 58,457 operators. As a result, industry profitability is expected to continue to grow following a substantial decline caused by the coronavirus pandemic. IBISWorld estimates that industry profit, measured as earnings before interest and taxes, will rise to 5.0% of industry revenue in 2027.Owners say there is a strong potential for growth especially with catering.

Reason for Selling:

Health reasons.

Additional Details:

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