Leasehold Authentic Italian Restaurant For Sale

Business description

This lively Italian restaurant has been a favourite destination venue amongst those who love authentic Italian cuisine for the past 18 years.

The licensed premises are well situated in an affluent area, and offer visitors a fine, relaxed and friendly atmosphere in which to dine, creating an atmosphere of ambience and is warm, welcoming and comfortable, all the right ingredients for a superb night out.

The restaurant has built itself an impeccable reputation for good service, fine wines and
wholesome traditional Italian cuisine, utilizing only fresh ingredients and cooked to order on site, creating genuinely excellent fare at unrivalled value for money.

From first glimpse at the extensive menu and wine list, it is evident that the regular clients are passionate lovers of fine food and wine. Clients are greeted by charismatic and relaxed waiting staff who make dining at this special culinary very memorable.

Ideally situated and close to all transport amenities, the restaurant’s comfortable furnishings provide unrivalled dining pleasure for the connoisseur.

The restaurant’s modern kitchen enables the provision of consistently excellent quality food at competitive prices in comfortable surroundings and has approximately 45 covers serving two sittings.

The restaurant has established an excellent amount of goodwill over the years amongst its customers, the majority of who are successful business people and affluent professionals.

This business offers the purchaser a quality, proven opportunity in an absolutely superb location, making early viewing essential.

Equipment:

The business uses PDQ for credit cards.

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 result. This commitment is evident in the degree of return custom and the reach of its reputation.

Key Strengths:

The business has rapidly reached its current level and is becoming established with a strong and growing customer base, retaining a high level of repeat customers who book on a regular basis.

The company has earned an outstanding reputation for its food quality, service, reliability, friendly atmosphere, value for money and experienced staff.

Financial profile:
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.

Annual turnover is circa £180,000 generating a gross profit of £117,000. The net profit of the business is £50,000.

Property information

Property:

Leasehold

Lease terms:

Annual rent is charged at £26,000 with rates charged additionally at £3,400.

Location:

The business operates from leasehold premises with fourteen years remaining on the existing lease. Annual rent is charged at £26,000 with rates charged additionally at £3,400.

The restaurant is centrally located in Folkestone, has a fully fitted kitchen and bar area.

Above the restaurant are two flats, one with two bedrooms, lounge, kitchen and bathroom. The second floor has a self-contained one bedroom flat, both rented out, and providing £7,000 per annum.

Other information

Expansion potential:

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 being situated in a vibrant and busy location.

Competition / Market:

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, combined with some local advertising.

Reasons for selling:

The owner is going to emigrate back to Italy in order to retire.

Trading hours:

Monday – Saturday 12.00 pm – 3.00 pm and 6.00 pm – 10.30 pm, (midnight at weekends)