OFF-MARKET PRESENTLY
Italian Restaurant for Sale! -Successful and Profitable Fine Dining Italian Restaurant – Strong Customer Following!
Washington County, RI
Asking Price: $350k
Gross Income: 780k
Cash Flow: $604k
EBITDA: $231k
FF&E: $200k
Inventory: N/A Real Estate: N/A
Established: 2016
Employees: Twelve (12)
While many believe that the restaurant industry is in an economic downturn, the market for fine dining has not only been able to sustain changes in consumer spending but has actually seen steady growth over the past several years.
The is due to the fact that those who would at one time spend their dollars visiting Quick Service Restaurants or QSR’s, are now more contentious with their dollars when finding quick meals, and instead using those dollars toward better planned and more satisfying experiences.
What is also becoming important to consumers is where food products are being sourced from.
The sustainability of resources and social responsibility of food products are important for several reasons, two of those being:
1) how healthy is our food and,
2) what are the effects of these foods that are not naturally sourced.
Many would further argue that using only the freshest ingredients can offer satisfaction and flavor that near impossible to replicate.
When merging these ideas of natural ingredients and fine dining, along with a renowned chef trained in Italian cuisine, a beautiful ambiance, and a level of hospitality that can rival any great restaurant experience, the results are extraordinary.
As a fine dining Italian Restaurant, this establishment prides itself on using the most natural food products and the freshest ingredients available.
All of the meats, poultry, and seafood are natural, antibiotic, and GMO-free; their produce is from all natural and hydroponically grown farms.
In a very short period of time, less than two years, this Restaurant has been able to create a reputation for quality, flavor, and hospitality that now essentially has a built-in following.
They are highly reviewed on many online social media platforms, with the Restaurant being featured on a very well-known regional show Matre d’ TV with Joe Zito, which is not something that happens often with a relatively new establishment.
The location is in a high traffic area with many well-known retail stores and is a very short drive from the shoreline, adding to the success in gaining regular consistent traffic to the establishment.
The restaurant is also a short drive from the town of Wickford as one of the few Fine Italian Dining experiences available in the area.
Additionally, as one of the few true Italian Fine Dining restaurants in the area, there few exact and direct competitors, with the nearest comparable dining experience being a nearly 40-minute drive in any direction.
In its current state, the Restaurant is in a healthy and sustainable cash-flow positive position and has now essentially become a staple in this community of Rhode Island.
Being known as one of the few authentic and natural food establishments that also hosts a full bar, translates to a wide customer base for this family-style establishment.
At this point in time, the Owners have essentially completed the ‘heavy lifting’ i.e. establishing a strong reputation and a consistent customer base, and with proper management, this available opportunity can thrive and further grow for many years to come as detailed in the available CIM.
NDA is required for comprehensive CIM and any other due diligence documents on file with ProNova Partners.
OFF-MARKET-Italian Restaurant for Sale
