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Connecticut Italian Restaurant and Tavern Group
Two Italian dining concepts near New Haven, a flagship restaurant and a tavern, doing $2M a year with 40 employees and a loyal base of neighbourhood regulars.
Business Highlights
- Two concepts under one ownership, a flagship restaurant and a tavern
- Owner-held real estate at the primary location, potentially included in the deal
- A base of neighbourhood regulars drives steady repeat traffic
- 40 employees across both locations
- Flagship open since 2007, with the tavern added in 2015
Considerations / Questions to Ask
- Two operating partners run the business day to day. A buyer needs to replace both, or keep one.
- Is the real estate in or out? It changes the price and the financing entirely.
- What are the lease terms at the tavern location?
- Liquor licences transfer on Connecticut's process and timeline. Confirm it before signing.
- How much of the regulars' loyalty is to the partners personally?
Opportunities
- Owning the building turns rent into equity for an owner-operator
- Two proven concepts give a template for a third location
- Catering and private events are not mentioned as revenue lines and are a natural addition
- Neighbourhood regulars make revenue steadier than most restaurants