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Business For Sale. Popular Mediterranean Restaurant & Pizzeria Prominent Town Centre Location

LISTING DETAILS
Firms For Sale ID:
35075
Vendor reference:
AC361
Vendor website:
     
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BUSINESS DETAILS
Location:
Primary sector:
Secondary sector:
Asking price:
£270,000  
Turnover / revenue:
£340,000
Net profit / cashflow:
£87,000
Years established:
15
Trading hours:
The restaurant is open on Wednesdays, Thursdays, Fridays & Saturdays; the vendor strongly believes that unexploited opening hours would benefit sales greatly. The business is open on these days from 8:30am to 3:00pm and from 5:00pm to 11:00pm and closed all day on Sundays.
Number of employees:
7
Employees / staffing:
There are currently 3 full-time chefs, 4 front of house, together with part-time dish-washing staff.

OTHER DETAILS
Reason for selling:
The owner would like to sell this business on due to other commitments.
Support and training:
The owner is happy to train and handover the business to the new owner.
Business is relocatable:
No
Business is web-based:
No
Business is home-based:
No
PROPERTY DETAILS
 
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BUSINESS DESCRIPTION
Popular Mediterranean Restaurant & Pizzeria
Prominent Town Centre location
Ref. AC361
Location : Gloucestershire
Asking Price : £270,000 inc. Assets
This business has operated as a mediterranean style restaurant on this very prominent, high street location for 15 years and was purchased by the vendor with the intention of creating a vibrant, addition to this busy market town in the heart of gloucestershire, serving a very high quality menu of dishes that have turned out to be very popular.
The business had been a tea-shop but the vendor invested in a high quality refurbishment of the premises that included the restaurant and food preparation areas as well as the al fresco areas to the premises.
Since refurbishment of this period building to high spec kitchen and chic dining area décor, the restaurant has been busy since day one and has proved to be extremely popular with local residents who enjoy the cosy atmosphere and high quality food on offer, which is under the management, day to day, of a highly professional full time staff, including 3x kitchen and 4x front of house.
The menu is made up of quite typical mediterranean options, geared toward traditional British tastes and also includes a very popular range of Pizza dishes with a varied selection of starters and side dishes. The restaurant is fully licensed.
Even though the restaurant is situated in the centre of tourist activities in Gloucestershire, this business does not rely upon seasonal custom but rather, takes advantage of this discrete town’s busy commercial and residential population, which has led to consistent non-seasonal trading.
The business operates in the mornings as a regular destination spot for locals getting coffee, tea and breakfast treats and then runs into the usual lunch trade. Evenings see the business become a traditional mediterranean restaurant and pizzeria.
Due to its desirable setting the restaurant enjoys high levels of awareness and footfall. The unique atmosphere results in high levels of repeat business and strong word of mouth recommendation, bearing testimony to the excellent reputation its dining experience throughout the area.
The premises has 52 covers indoors and including the outside dining terrace there are 80 covers. The kitchen is fully fitted with a pizza oven. There is a suitable storage area, prep room, and dry store. Rent & rates (100% relief) are approx. £12,000 per annum.
There are currently 3 full-time chefs, 4 front of house, together with part-time dish-washing staff.

Market / Competition / Non-Competition Agreements
The business has an attractive website and relies very successfully upon word of mouth recommendation, social media following and return custom.