Latin Style Restaurant

New Haven County, CT

Latin Style Restaurant

Asking Price:$125,000

Cash Flow:$8,350

Gross Revenue:$240,000

EBITDA:$8,350

FF&E:$50,000

Inventory:$5,000*

Established:1980

*not included in asking price.

Latin Style Restaurant

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Business Description

Business is a Latin restaurant established in the past four years at a location formerly an Italian restaurant for many previous years. Located in an attractive brick building and incorporating 3,045 sq.ft. this restaurant has a full separate bar with full liquor license and two separate dining rooms plus a large full kitchen and basement. Seating capacity is 200. The phsical characteristics are exceptional. Rent is $3,000 per month with lease running to 2024 with options. The sales figures have not been strong during this severe recession but the asking price of $125,000 for the entire setup is easily justified for a professional restauranteur who possesses the necessary management skills at a time when the economy is improving. The seller recommends a buyer specialize in Argentinian, Columbian or Peruvian menus to suit the local market. An advantage would accue to a buyer who is also the chef, particularly during these stressed economic times. Most of the existing equipment is included in the purchase price. Food & liquor inventory values are in addition to the purchse price.

Detailed Information

Inventory:
Not included in asking price
Employees:
6
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
The major positives for this restaurant are its location and the quality of the physical facility. Located in a Latin area the restaurant has been in existence for many years, primarily Italian in the past. The facility has 3,045 sq. ft. including two dining rooms, a full bar, full basement and seating capaciy for 200 customers. Rent is $3,000 per month with leases extending until the year 2024 uncluding options.
Competition:
Location is very good one for restaurants in a busy area. Competition is not a factor although the current recession is a factor.
Growth & Expansion:
A return to better economic times will be the main factor in growth of the business.
Reason for Selling:
Owner has another restaurant to run.

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Bob Capozzi

Business Listed By:
Bob Capozzi

VR Business Brokers/Venture Group Partners

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