Details - Information last confirmed on November 25, 2020
Exceptional Italian Restaurant
Virginia Beach, Virginia
For more than three decades the restaurant has offered an unparalleled Italian dining experience. Located in the heart of a high income and traffic area, the restaurant has a very loyal local and regional customer base. The restaurant’s sterling reputation combined with its long history in the marketplace has established it as one of the best venues in the region for dining. Revenues have increased an average of 7% each of the past 3 years.
The restaurant features a carefully curated list of wines masterfully chosen to create an extensive wine list from every region of the world. Few can match the wine program, whether it is for a family and friend’s night out or a business client dinner.
The company continues to realize profitable growth. It has recently invested in the latest technology to enable the business to increase efficiency, analyze results and effectively promote the restaurant to the client base. With the Covid restrictions, expansion of the take-out and delivery base has anchored the business and will be the catalyst for even more growth in the future. The leased location offers ample parking, private meeting rooms, an outdoor patio and superior bar area.
For an experienced restaurateur, this is a great strategic acquisition opportunity to immediately purchase a predominant established business to capitalize on its long-term goodwill, reputation and client base. Upon proper qualification of the potential acquirer, including the customary exchange of financial information and confidentiality agreements, a detailed Confidential Prospectus will be provided. All inquiries will be held in strictest confidence.
Purchase Price: $570,000
Gross Revenues: $1,738,694
FF&E: $200,000 (included in asking price)
Wine Inventory: $120,000 (not included in asking price)
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