Pizzeria / Italian Restaurant
This business has been in existence since 1986. The current owners have operated it since 1996. It operates as a Sole Proprietorship. The store is housed in a 3000 square foot space, complete with dining area, kitchen, service counters, food preparation areas, storage areas, and restrooms.
The pizzeria serves pizza, hot and cold sandwiches, calzones, pasta, and Italian specialities. It is a popular stop for both locals and visitors to this resort area, and is considered one of the finest pizza and sandwich restaurants in the area. Its location is very visible.
Only the business itself is being offered for sale, including all goodwill except for the name, which the owners do not own. There is a lease in place which expires in 2010 which is assignable with landlord approval. The existing lease expense of $3183 per month is well within industry standards as a percentage of annual sales volume and on a “per square foot” basis.
The focus of the pizzeria is to provide high quality pizza, sandwiches, and Italian specialities at reasonable prices. Homemade sauces, breads and other key items using only the highest grade ingredients may result in higher than average food costs, but the product quality is unrivaled in the area.
The restaurant industry in the area is seasonal, as it sits in the heart of New Hampshire’s White Mountain region, a popular tourist destination. From June through August the restaurant is very busy daily. During fall foliage and the winter season, the restaurant is very busy weekends and school vacation periods. During the off season and winter midweek periods, the restaurant has to appeal to its local clientele, which is a very strong segment for this particular restaurant.
There is a lot of planned development in the area over the next few years. The area eagerly anticipates an increased number of visitors and second home owners to the area over the next five years.
For further information on the state of the restaurant industry in Lincoln-Woodstock and New Hampshire, contact the following entities:
New Hampshire Lodging and Restaurant Association
P.O. Box 1175
14 Dixon Avenue, Suite 208
Concord, NH 03302
The pizzeria is located close to one of the most popular ski resort in New Hampshire. It is located in a popular strip mall, sharing space with other retail stores, outlets, and restaurants.
The area is also a popular destination year round for its hiking, biking, swimming, winter activities, foliage, and other attractions, both man-made and natural, that the White Mountain National Forest has to offer.
The restaurant is housed in a fairly well-maintained building, complete with dining area, service counters, large kitchen, food preparation areas, restrooms, and storage areas. All furniture, fixtures, and equipment are in good to excellent shape. The public areas of the restaurant are clean, well maintained, warm, comfortable, and appealing to customers.
Reason for Selling & Other Facts
The owner has been running the business for 11 years while also being employed as a butcher at a local grocery store for the last couple of years. He is looking to simplify his life at this age, and the best way to do that, in his opinion, is to sell the business and work part-time as a butcher.
The current owner is willing to stay on and train for two weeks after the transfer of the business at no charge. He is also willing to sign a non-compete agreement and may even entertain working part-time for a new owner.
Inventory of Furniture, Fixtures & Equipment
The approximate total fair market value of the Furniture, Fixtures and Equipment is $50,000. The list is as follows:
- 2 Blodgett 1060 pizza ovens, gas
- Oven hoods w/ansel system
- Sandwich table
- Pizza table
- Freezer, 2 Door
- Walk-in refrigerator
- Reach-in refrigerator, 3 door glass
- 2 residential freezers
- Residential refrigerator
- Gas stove, 8 burner
- 2 Pitco deep fryers, gas
- Convection oven, gas
- Microwave oven
- Wood top prep table
- 3 stainless steel prep tables
- Dining tables and chairs for 70 covers
- Salad bar
- Hobart mixer, 60 quart
- Three bay sink
- 3 handwashing sinks
- Hot water heater, gas
- 9 waste baskets
- Sharp electronic cash register
- 2 service counters
- 2 soup kettles
- Sauce pot
- 10 assorted cooking pots
- Office furniture
The approximate total fair market value of the dry goods and fresh and frozen consumables to be left at the time of sale is $3,000 and is included in the sales price of the business. An inventory of all the items should be taken at the time of closing and the value adjusted (up or down) depending upon its results.
Hours of Operation/Employees
The restaurant is open from 11am to 9pm Monday through Wednesday, and 11am to 11pm weekends. It takes 4 full-time employees plus the owner and 4-11 part-time and seasonal employees to operate this business effectively. Currently, all are paid hourly except for one manager who is paid a salary of $550 per week.
Size of Facility
The business space is plus or minus 3000 square feet, all on one level. The seating capacity of the restaurant is 92. There is parking available for up to 100 cars in the parking lot and additional spaces on the street.
Annual Sales Volume
Gross Profit Margin
2003-2005 Schedule Cs
Ways to Improve the Business
The owner believes that by spending more time in the restaurant, a new owner will be able to better understand and react to the trends and needs of the business, as well as to better monitor cash receipts. A more hands-on owner may be able to react better to the daily realities of the business and adjust accordingly. The business is successful as it is, but can always be made more so. Also, competition comes and goes in the area, and the restaurant has always held its own as is, but a more attentive owner may be able to devise new marketing strategies to gain an even larger market share.
Recommended Listing Price (RLP)
The RLP justification for this business is as follows:
|The business has Gross Revenues of:||*|
|The business has a cost of goods sold of:||*|
|The business has a Gross Profit of:||*|
|The business has Sellers Discretionary Earnings of:||*|
|Salable Inventory at Cost:||$3,000|
|Furniture, Fixtures and Equipment:||$50,000|
|TOTAL RLP: $195,000|
*Available upon completing a Confidentiality Agreement.