Full Service Italian Restaurant and Bar
Location: Philadelphia, Philadelphia County, Pennsylvania
Primary Category: Retail - Restaurants
Secondary Category: Retail - Bars/Taverns
Date Listed: 11/1/7
Date Last Updated: 11/16/7
Showcase Ad Tag Line: Excellent Opportunity to own a Full Service Restaurant and Bar
Cash Flow: Not Disclosed
Furniture, Fixtures & Equipment: $300,000
Inventory: $20,000 (included in price)
Financing: Seller wants aprox. 200K down and is willing to hold a note for the balance.
Beautiful full service bar and restaurant located on the campus of one of Philadelphia's fastest growing universities. The owner has put approximately one million dollars into this business with the fit- out, furniture, fixtures and equipment. The current menu ranges from burgers, wraps and pizza to exquisite Italian dishes. It provides a blend of Italian cuisine, Latin influences, fun food and an eclectic bar in a casual atmosphere. The focus of the decor is on Philadelphia pride complete with illuminated replicas of the Philadelphia skyline along the soffits in the dining room. It is a fun bistro to come for lunch, after work, dinner or an evening of socializing at the bar. The bar, complete with a Cruvenet, which offers an impressive selection of wines by the glass, also offers an incredible martini menu. During warm weather, patio dining is offered. The bar tops are made of a beautiful high quality granite. An owner operator could come into this business and greatly increase its revenues and profitability. A hands-on-owner with restaurant experience would best serve the business. The current owner has five years left on the lease with a five-year option to renew. Don't let this wonderful opportunity pass you by. This is a true turnkey operation with tremendous potential. This will not be on the market for long!
Facilities: The owner recently spent approximately one million dollars to fit-out this location. All of the equipment is included in the asking price. Approximate value of the furniture, fixtures and equipment is approximately $250,000. The liquor license is worth approximately $50,000.
Competition: This restaurant/bar is in a prime location. It sits directly on the campus of one of Philadelphia's fastest growing universities with a current enrollment of nearly twenty thousand students.
Growth and Expansion: This business can be greatly expanded and its profitability greatly increased if purchased by an owner/operator. The business is currently run owner absentee. The new owner could also open this business on Sundays and greatly increase the revenue. A new owner could also keep this business open later making it the place to be on Friday and Saturday nights.
Support/Training: Time for training is negotiable. Owner will give at least 2 weeks training and support.
Reason Selling: Other Business Interest. The owner's suburaban location is greatly expanding.
Year Established: 2004
Contact: Douglas Whalen, Esquire
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