Two Superb Manchester City High Class Italian Restaurants For Sale

Business description

Two High Class Italian Restaurants Superb Manchester City Centre Locations

Both of these very well known and respected restaurants have been providing its customers with a fine Italian dining experience for many years now. The first restaurant was set up by the vendor over 30 years ago and has been such a success that he opened a further restaurant some 13 years ago. Both restaurants provide a superb range of high quality Italian foods, yet the vendor has created two different styles for each restaurant with differing names, décor, atmosphere and different target markets. In saying that the business tends to have many loyal customers who will use both restaurants such is their inherent quality.

The locations of both restaurants are absolutely superb, both being in a very high profile part of the city close to the major hotels, arenas, theatres, halls and opera house, not to mention large corporate companies, tourist attractions and retail outlets. Because of this the business has enjoyed very consistent levels of business and profitability over the years with a diverse yet regular customer base.

Each restaurant can cater for circa 70 covers at any one time(more for functions) and also have separate bar areas. Both restaurants are run under management so the vendor has no need to be involved within the business on a day to day basis. Each site has both a full time manager and assistant manager. The staff are highly experienced and friendly and both restaurants have excellent chefs.

The vendor has just recently refurbished one of the restaurants at a cost of circa £200,000. Both restaurants are superbly presented with high quality fixtures and fittings to ensure a wonderful dining experience time and time again.

The restaurants also have a superb selection of fine wines, Champagne, cognacs and ports alongside a large selection of malt whiskies.

The vendor would consider selling each restaurant individually if so required, subject to negotiation. The current price is for both prime sites.

Equipment:

Both restaurants are fully equipped with excellent kitchen facilities, full bars and only the highest quality fixtures and fittings, tables and chairs. Both buildings are in a very good state of repair and the décor is very tasteful. All are included within the sale. A new owner would not be required to further invest in the business for several years.

Customer Service:

Both restaurants pride themselves in offering the finest authentic Italian food at its best, with a variety of pizzas made and baked in the traditional Neopolitan way. The pasta is cooked fresh every day and complemented with home made sauces of choice. In addition to this the highly talented chefs chose and also create some beautiful specialities with the best beef fillet steak, veal, fish and poultry.

The business has built an enviable reputation for offering a truly unique Italian dining experience with a friendly service and makes every effort to produce consistently high quality food serving only quality fresh ingredients.

Staff pay strict attention to service, cleanliness and hygiene and are always polite and friendly, resulting in high levels of repeat business and customer loyalty. This is backed up by rave editorials and reviews in local, regional and national publications.

Key Strengths:

The business has many strengths not least it sterling reputation and loyal customer base. It cannot be stressed enough that each restaurant benefits greatly from their very high profile locations that ensure very high levels of trade. The business has built on this foundation using the very highest quality suppliers to deliver a very high quality and memorable dining experience The menus are wide and are changed on a regular basis. The vendor has invested heavily in the business and its infrastructure to ensure continued success.

Key Opportunities:

There are several opportunities to develop the business further. The vendor has never really promoted the restaurants preferring to rely on word of mouth recommendations. A more active marketing campaign could certainly increase business levels and profitability still further.

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.

Both restaurants enjoy very healthy business levels. Combined turnover for the restaurants is in excess of £1Million p.a. Current net profits for the business (both restaurants) is in excess of £175,000 per annum. Both restaurants are highly profitable. The vendor has reinvested in the business over the years and this is evident in the quality of the premises and the consistent levels of business.

Property information

Property:

Leasehold

Location:

Both restaurants are leasehold. One 25 year lease expires in 2015 and is renewable. The other 20 year lease was taken out in 2002 and has the option to extend for another 10 years if so required. The vendor has an excellent relationship with the landlords and it is understood both leases can be extended.

Further details can be provided upon completion of the Turner Butler Confidentiality Agreement.

Business Operation

Competition / Market:

Due to its desirable locations and superb reputations the business enjoys high levels of awareness and footfall. A high proportion of both restaurants’ revenue is due to its quality food and unique atmosphere resulting in high levels of repeat business and strong word of mouth recommendation, bearing testimony to the excellent reputation it enjoys throughout the area. It does also have a website.

Reasons for selling:

Retirement.

Trading hours:

Monday-Sunday – Lunch and Dinner (except Sunday Lunch)

Employees:

The vendor has established a very good management team within the business that allows him not to be involved on a day to day basis. Each restaurant has both a full time manager and assistant manager, as well as full time chefs and kitchen staff. In addition to this the restaurants have a pool of reliable and experienced part time waiters, waitresses and bar staff.

Other information

Support & training:

The current owner would be happy to provide full training and support at handover.