Colorado Springs Oldest Family Owned Restaurant

Colorado Springs, CO (El Paso County) (Relocatable)

Seller Financing Available
Colorado Springs Oldest Family Owned Restaurant

Asking Price:$200,000

Cash Flow:$100,000

Gross Revenue:$550,000

EBITDA:$50,000

FF&E:$40,000

Inventory:$25,000

Real Estate:$850,000*

Established:1958

*not included in asking price.

Colorado Springs Oldest Family Owned Restaurant

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Business Description

Local family owned Italian restaurant seeking new ownership

I've been eating at this restaurant for 35 of my 41 years of life. It is my favorite restaurant to take my family, entertain clients, and business associates. My motivation in helping the owners sell the business is to find someone that is willing to carry on the tradition, so that Colorado Springs does not lose their favorite restaurant. This is a perfect situation for an owner/operator with experience as it has provided the current owners a great standard of living for the last 50+ years.

Detailed Information

Inventory:
Included in asking price
Real Estate:
Owned
Not included in asking price
Building Sq. Ft.:
N/A
Employees:
20
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Restaurant is located in 2600 sf facility, that can be purchased along with the business or can be leased from the owners. All necessary kitchen equipment is included with the sale. Full description will be provided upon expressing interest.
Competition:
Restaurant has a long standing base of regular customers. Restaurant business in Colorado Springs is a competitive industry, but there is a lot of upside potential with his restaurant. An experienced restaurant owner could achieve rapid revenue growth within short period of time.
Growth & Expansion:
Expanding to Northern Colorado Springs with an additional location, would be a very logical first step. Currently the restaurant is only open for dinner, but is close to downtown and could easily increase revenue by having a lunch crowd.
Support & Training:
Existing management will stay on for 3-6 months if required.
Reason for Selling:
Ready to retire

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Business Listed By:
Corbin Cowan

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