Looking for a buyer.
There are 50+ employees at this casual fare restaurant! They hold a liquor license, and their county is not issuing any new licenses at this time. Offering a unique and varied cuisine, menu items include classic Italian pasta, fried calamari, seared scallops, and prime rib – there is a great selection to match every craving and satisfy every taste bud. The restaurant occupies a significant space—being able to seat 100 inside (including 14 barstools), plus covered booths around the exterior. There are around 50 individuals on staff, including 30 servers, 18 kitchen staff, and two full-time managers. A key asset for the restaurant is their Cumberland County liquor license. Valued around $500K due to the scarcity of these licenses in the county, attention and business for the restaurant is practically guaranteed for a long time to come, given the closed market and natural barrier to entry for competitors. The COVID-19 pandemic forced the restaurant to close from mid-March to mid-April 2020, but they quickly bounced back with the introduction of curbside pickup (that is still presently utilized) and were back to full capacity by the middle of summer. The current owner provides general oversight for the day-to-day operations, filling roles and positions as needed during peak hours. With minimal online marketing, a significant growth opportunity exists for a new owner, with a current owner training period dependent on the experience and needs of the buyer. Priced at $2,355,000, the restaurant is primed to bounce back way beyond 2020 with 2021 annualized gross sales of over $4.6M! This is an opportunity you won’t want to pass on. A 15% down payment of $353,250 returns $374,533 in the first year after debt payments – a 106% return on investment.

listing type
exclusive representation
industry
Food
location
Mechanicsburg, PA, USA
revenue
$4,925,174
ebitda
$673,182
proposed price
$2,355,000
owner financing
$353,250
equipment
$500,000
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