Johnston Italian Restaurant

Business Opportunity for Sale
Catylist Listing ID: 30538650
Property Subtypes: Food and Beverage
Building Size (RSF): See Agent
Sale Price: $154,900
Name of Establishment: Johnston Italian Restaurant
Gross Revenue: $388,586 (Annual)
Cash Flow: $169,900 (Annual)
Sale Terms: Cash to seller with possible owner financing
Last Updated: 1/24/2020

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.
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.

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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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