Italian-American Restaurant w/Property - Busiest Restaurant in town

Rangely, CO (Rio Blanco County)

Italian-American Restaurant w/Property - Busiest Restaurant in town
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Asking Price: $198,000

Cash Flow: $115,000

Gross Revenue: $750,000

EBITDA: N/A

FF&E: $150,000

Inventory: $10,000*

Real Estate: $325,000*

Established: 2003

*not included in asking price.

Italian-American Restaurant w/Property - Busiest Restaurant in town

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Business Description

Priced to sell at less than 2X discretionary earnings. This is a busy and profitable restaurant with fifteen years of successful history behind it and a great future built on a strong local reputation for good food and good service. The business has focused on providing lunch and dinner to local people as well as seasonal visitors to town. The location enjoys high visibility from the highway through town and excellent parking.

This restaurant is large enough to produce a nice income for an owner-operator and small enough for a hands-on operator to run easily with a few staff. A new owner with energy to get on the floor and run things should be able to grow earnings significantly simply through cost savings.

An ideal location with good visibility, access and parking along with limited competition insulate this business from changes in the market. Sales have been rising consistently.

The building has two residential apartments upstairs and a banquet room in addition to the regular restaurant space in use every day. These are not in current use and could increase the income from the combined property and business significantly.

Please Note: Potential buyers will be asked to complete buyer registration, sign a non-disclosure, interview with broker and provide evidence of the means to complete a transaction of this size before additional confidential information will be disclosed.

Detailed Information

Location:
Rangely, CO
Inventory:
Not included in asking price
Real Estate:
Owned
Not included in asking price
Building SF:
N/A
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Owned. Seller prefers to sell the property with the business but will consider other deal structures.
Competition:
There are few other restaurants in Rangely or within 30 minutes drive.
Growth & Expansion:
The addition of some higher priced menu items such as steaks could grow sales. The building has a banquet room which could be used more often.
Support & Training:
Seller will provide effective training and knowledge transfer to the Buyer in all matters relating to Company operations.
Reason for Selling:
Retirement
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Contact the Seller

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Steve Hitchcock

Business Listed By:
Steve Hitchcock

Touchstone Business Advisors

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Sponsoring Broker:
Charles Spickert, CBI

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