The Italian Market In Hampstead - Turn Key

Expired Business Opportunity for Sale
Catylist Listing ID: 30646247
Property Subtypes: Food and Beverage
Building Size (RSF): 1,984 SF
Sale Price: $198,000
Name of Establishment: The Italian Market In Hampstead
Year Business Established: 2016
Gross Revenue: $350,000 (Annual)
Cash Flow: $0 (Annual)
Sale Terms: Turn-Key and well established with loyal customers. Qualified buyers must sign an NDA for financial details.
Last Updated: 7/31/2021

Overview / Comments

Here is an opportunity to purchase and take over a turn-key operation in the Italian Specialty Hospitality Market. Owners Vincent and Diane opened the location in 2016. The market and take-out operation has realized approximately 35% increase in monthly revenue since April 2020 as a result of the Covid-19 pandemic and it continues to meet or exceed in 2021 over same period 2020. Grab and Go and Take and Bake with Curbside Pick-Up is what they excel at. In addition, the interior store is a fully stocked Italian Market with everything you can think of. All safety and executive order processes are in place to make customers feel safe.

Their sandwiches are made to order. Their fresh and frozen pasta entrees are ready to go. There is also catering revenue offering deliver with larger orders. Vincent will provide up to 30 days transition period and is open to hire for part time if the new owners want. Retirement is their goal after 30 years in business here in NC.

Vincent and Diane have a long history in the deli arena with successes in other locations. He originally hails from New York where he learned from his father in his business.

Revenue has continued to increase over the 4 years and the business is profitable. New owners, depending on their choices can expect to cover some personal monthly expenses. All FF&E (furniture, fixtures, and equipment) convey in the sale. Buyers will not need to invest any capital for improvements if they continue to operate as is. It is a complete business. Inventory value varies during the year.

Marketing includes current postings on Facebook and online menus on menupix and zmenu. Delivery offered on Doordash and Grubhub. All online review sites show 4.5 stars and above. Well established customers keep coming back from as far south as Southport and north to New Bern.

The Trends: An April 2020 article in Food Navigator USA stated these consumer trends related to Covid-19.
43.2% are dining out less
27.8% are eating more pre-pared meals at home
15.1% are doing take out Grab and Go or Take and Bake at home meals

Details: All FF&E conveys with the sale to include all refrigeration, freezers, displays, counters, shelving. A full list with details is available to a qualified buyer.

A buyer interest must be financially able to fund the purchase and have operating capital to assume the lease. Buyers will have to meet with the landlord for a new lease in their name.

Additional Details

Nearest MSA: Jacksonville
County: Pender
Industry Segment: Other Food and Beverage
Reason for Selling: Retirement
Value of Inventory Included ($): $0
Value of Furniture, Fixtures, and Equipment ($): $65,000
Real Estate Status: Leased
Value of Real Estate Included ($): $0
Employee/Labor Description: Owners work full time with 3 part time employees.
Mgmt/Training Support Description: Owner will commit to up to 30 transition period.
Competition/Market Description: Unique in service due to the specialty in Italian foods and take out.
Growth/Expansion Opportunities: Expansion of open hours, catering and corporate lunch business is an opportunity
Seller Financing Description: Will consider upon buyer's qualifications and deposit.

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 4,382 20,974
Median Age: 49.47 45.26
Households: 1,843 8,306
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