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Businesses For Sale   >>   Salt Lake Businesses For Sale   

Italian Restaurant

Location  Salt Lake County, Utah, United States
Asking Price Range  $2.5M - $5.0M
Gross Revenues  $829433
Net Profit / Cash Flow  $157159
Cash Flow Type  EBITDA
Seller Finance  Yes
Year Established  1997
Number of Employees  10 - 19
Relocatable  No
Number of Employees  10 - 19
Real Estate  Leased
Training  Negotiable as needed
Reason for Sale  Raise capital for other business venture

This beloved casual, traditional Italian restaurant in the Salt Lake Valley features fresh, made to order authentic Italian dishes. They have a full liquor license. After a recent relocation, sales and have more than doubled and remain very consistent. The dining room has a capacity of 71-75; the bar, 8-9 as well as an additional 30 for ''casual'' dining. There is also a private room that can accommodate 16-19. The restaurant has a seasoned and committed cadre of employees. The owner, who owns and manages other restaurants, relies heavily on several key managers/employees for the day-to-day operations. The kitchen manager/head chef manages all aspects of the back end with the exception of food purchasing, which the owner himself does. The sous chef, who has been at the restaurant for more than ten years, is also a key contributor, along with a front end manager who also is a food server. The owner is selling the restaurant in order to capitalize and focus on a new restaurant concept. Due to personal convictions, the restaurant is not open on Sundays, but could benefit from operating on this weekend day as well as offering brunch or catering services. A new owner who wanted to take a more hands-on day-to-day approach could also reduce the payroll expense going forward. They are located on a major north-south thoroughfare in a busy retail corridor -- about 18,000 cars pass by daily. There is a large population with plenty of disposable income within easy driving distance. Asking price is $465,000 and some seller financing is negotiable for a qualified buyer.

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