Johnston Italian Restaurant
Business Opportunity
for Sale
| Catylist Listing ID: |
30538650 |
| Property Subtypes: |
Food and Beverage
|
| Building Size (RSF): |
See Agent
|
| Sale Price: |
$139,900 |
| Name of Establishment: |
Johnston Italian Restaurant |
| Gross Revenue: |
$300,000 (Annual) |
| Cash Flow: |
$169,900 (Annual) |
| Sale Terms: |
Cash to seller with possible owner financing |
| Last Updated: |
5/17/2022 |
Overview / Comments
A long-established, full service restaurant which seats about 56 diners. Turnkey operation with long-time clients. Great location with plenty of on-site parking. Full liquor license. Favorable lease terms. Menu is mostly classic Italian dishes with a contemporary flair.
|
Additional Details
| Nearest MSA: |
Providence-Warwick |
| County: |
Providence |
| Industry Segment: |
Restaurants |
| Reason for Selling: |
Owner is ready to retire and has other business interests. |
| Value of Inventory Included ($): |
$0 |
| Value of Furniture, Fixtures, and Equipment ($): |
$70,000 |
| Real Estate Status: |
Leased |
| Value of Real Estate Included ($): |
$0 |
| Real Estate Lease Description: |
This restaurant is located in a small strip mall with adequate parking. His business hours do not conflict with other tenants. Favorable lease at only $1,600 that includes water,dumpster and some outside security lighting |
| Employee/Labor Description: |
Mostly a family run business. Owner and his son do most of the cooking and prep work. Also has three waitresses and one bartender. |
| Mgmt/Training Support Description: |
Owner will stay on an train new operator and share recipes that are a staple of his business. Seventy percent of the business is credit card use. |
| Competition/Market Description: |
Set near the North Providence border there is little to no competition in his price point. Business has reasonable drink and entrée prices. The restaurant has a long-time, loyal following of repeat clients, |
| Growth/Expansion Opportunities: |
Growth is endless for this location. Additional income could be increased by adding a lunch menu. Coupon and delivery services could also increase revenue and sales. |
| Seller Financing Description: |
Seller would prefer a cash sale with seller financing possible with a good down payment. |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
11,410 |
97,042 |
294,176 |
| Median Age: |
41.69 |
38.18 |
34.9 |
| Households: |
4,865 |
37,885 |
108,557 |
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