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BUSINESS REFERENCE : AC135 / RightBiz WELL ESTABLISHED LICENSED ITALIAN RESTAURANT | | | | | | Well Established Licensed Italian Restaurant Confidentially offered for sale Ref No: AC135 Location: Berkshire Asking price: £150,000 | | | BUSINESS LOCATION: | Undisclosed Berkshire UNITED KINGDOM | | BUSINESS SECTOR: | Catering | | TRADE TYPE: | Restaurants | | SALE: | Agent Sale | LEASEHOLD: | £150,000 | | | | | | | | | | | BUSINESS DETAILS: | Business Profile:
This business was established in 1993 by the Vendors and with a generous combination of innovative insight and entrepreneurial spirit it has grown since to become a significant enterprise with a reputation for the quality of its menu, wine selection, environment and the successful combination of restaurant decor and ambience. As well as establishing itself for its food and menu the restaurant is the longest established Italian restaurant in the town and in the area.
The welcoming, comfortable and contemporary restaurant for 60 covers benefits from a prime and significant high street location and a prominent frontage that comprises of a large glass window, while the interior has a distinct Mediterranean feel. Free parking is available in the vicinity in the evenings.
This successful business offers customers an opportunity to spend time enjoying a high quality lunch or evening meal prepared in continental style to the highest standards and which can be accompanied by the high quality wines from different continents that are held in stock.
This business has at this time significant scope for growth and an increase in revenues. This can be achieved for example by the new owner concentrating more fully upon this business with the attendant focus on sales and marketing promotion and by making better use of the opening hours throughout the day and at weekends. The current owners have taken the eye somewhat off the ball due to the part time hours they now work in the business due to their other extensive business commitments.
The business enjoys a prime high street town centre location in a County which is currently experiencing civic and commercial development and investment. The business's turnover benefits from its prominent position and being the longest Italian owned and managed restaurant in the vicinity. The business is situated among other successful and well-known high street shops, department stores, banks and building societies and benefits from the volume of footfall and passing trade.
In addition to the nearby shops and passing trade is the number of offices located in this town centre, which becomes a lively and entertaining area in the evenings, attracting people from various areas nearby. Exemplary relations with customers ensure that customer service and product quality is never compromised and that customers receive the highest possible quality of service, this has led to the existing high levels of return custom. This commitment to suppliers and customers has underpinned this business's abilities in service quality and sustained business success.
Customer Service:
The restaurant considers simply that happy customers come back, and on that simple basis has maintained levels of product and service quality intended to best guarantee that happiness. The results of this commitment are evident in the degree of return custom and the reach of its reputation.
Key Strengths:
The business is well established with a strong and growing customer base, retaining a high level of repeat customers who book on a regular basis, having done so for many years.
The company has earned an outstanding reputation for its food quality, service, reliability, sophisticated atmosphere, value for money and experienced staff.
Growth and Expansion:
The current market for this business is growing and is forecast in the near and longer term for significant growth. The business is well positioned to take maximum advantage of this growth as it occurs.
Key Opportunities:
This is an outstanding opportunity to build on the existing business services and customer base of this company and also to add new services such as outside catering. With a strong demand for its combination of environment, food quality, menu and bar together with a capacity to increase turnover, a new owner contributing fresh ideas will have every advantage of building on an excellent platform.
Advertising and Marketing:
A high proportion of the business's revenue has been due to its excellent reputation for quality and service and strong word of mouth recommendation, as well as its prime location.
Premises:
Situated in a prime and significant location on the High Street in the middle of this lively and entertaining Town the business benefits from glass fronted premises with a reception vestibule leading to the 60 cover restaurant with licensed bar to the rear and ladies and gents toilets. Behind this is the fully equipped commercial kitchen with storage and rear exit.
The premise has a renewable 25 year lease expiring in 2027 with rent reviews on a 5 yearly basis. Current rent is £24,000 per annum, with rates payable of £6,700 per annum.
Employees:
The two owners both work part time and the business is run on a day to day basis primarily by the staff. There are currently 6 staff, 4 in the kitchen and 2 waiting tables.
Business Hours:
Monday – Thursday 12.00 – 2.30 and 7.00 – 10.30
Friday – Saturday 12.00 – 2.30 and 7.00 – 11.00
Sunday Closed all day
Financial Information:
The business is being offered for sale on a going concern basis, all financial discussions will take place directly between the vendor and all interested parties under the auspices of Turner Butler.
The business is financially stable with low overheads, positive cash flow, enjoys strong forward bookings, and has shown consistent growth over 15 years trading. Turnover is circa £8,500 per week and our clients feel that with investment in sales and marketing and the increase in market demand from additional opening hours the business could dramatically increase its revenues and profits.
Reason for Sale:
Both owners have other extensive business interests and wish now to concentrate exclusively on these, having realised that they are not devoting the necessary amount of time and focus in order to continue with the growth of this excellent business.
Support and Training:
The current owner will provide all necessary training and all relevant contacts to allow continuity of trading | | | | | | FOR SALE | | | | | SELLER: | TURNER BUTLER | | CONTACT: | 01895 25 6000 | | REFERENCE: | AC135 / RightBiz | | ENQUIRIES: | | | | | | | | | | | | | | | | | | | | |
