Banquet Halls, American Restaurants, Italian Restaurants
Active
Italian-American Restaurant & Banquet Venue – Hartford County, CT
Capitol County, Connecticut, United States
Asking Price$300,000
Revenue$1,800,000
EBITDA-
Cash Flow-
Description
A rare opportunity to acquire a highly regarded, family-run Italian-American restaurant and banquet facility in Hartford County, Connecticut. Owned by the same family for nearly half a century, the business has become a community institution, known for consistent quality and value, with many regulars dining more than once a week. Gross revenue is approximately $1.8 million.
THE BUSINESS
The menu covers a broad range of Italian and American favorites, with choice-grade meats and sauces and soups made from scratch daily. Monthly prix-fixe specials drive repeat visits, and menu prices sit below the local market, leaving room for measured increases.
Banquets and private functions are a second major revenue stream: showers, anniversaries, memorials, small weddings and off-site catering. The floor plan can be divided to host several private parties at once while still serving a la carte guests. Unlike many competitors that require minimum headcounts, this venue welcomes smaller groups, a large and underserved part of the local events market.
Key kitchen and bar staff have been in place for 20 to 30 years, and employees handle most day-to-day duties other than event bookings. The retiring owners will provide training for a smooth transition.
GROWTH OPPORTUNITIES
- Restore lunch service, a strong daypart before 2020 that customers regularly ask for
- Open Mondays (currently closed except for booked functions); the seller estimates lunch and Mondays could lift sales 25-30% with most staff already in place
- Marketing: minimal current spend, with a website, social media and an established email list to build on
- Population growth: substantial new housing, including new neighborhoods and hundreds of apartment units, is under construction in the immediate trade area
- Pricing: below-market menu prices
FACILITY & REAL ESTATE
Freestanding building of approximately 5,800 sq ft on roughly one acre with about 100 parking spaces. Fire occupancy of approximately 270; dining room seats up to 150, plus a bar and lounge seating about 62 and about 15 at the bar. Full cellar, and two residential apartments on the second floor. The real estate is owned free and clear by a seller affiliate and is available to lease (approx. $8,500/month) or purchase TBD.
HOW TO REQUEST INFORMATION
To protect the business, its employees and its customers, the name and location are released only to qualified buyers who have signed a Non-Disclosure Agreement. Submit an inquiry through this listing and you will receive our NDA and Buyer Profile by email (please check your spam/junk folder). Once both signed documents are received, we will send the full Confidential Information Memorandum.
Information provided by the seller is believed to be reliable but is not guaranteed. Buyers should verify all information during due diligence.
Real Estate
Rent is $8,500 per month
Building Size: 5800 sq. ft.Furniture Fixtures & Equipment
$85k
Inventory
$35k
Number of EmployeesFull-Time: 6Part-Time: 21
Reason Selling
Retirement
Facilities & Assets
Freestanding building of approx. 5,800 sq ft on roughly one acre with about 100 parking spaces. Fire occupancy approx. 270. Dining room seats up to 150; bar and lounge seat about 62 plus about 15 at the bar. Divisible floor plan allows multiple private functions alongside a la carte service. Full cellar; two residential apartments on the second floor. FF&E of approx. $85,000 included in the asking price. Real estate owned free and clear by a seller affiliate: available to lease at approx. $8,500/month or purchase TBD.
Support & Training
The retiring owners will provide transition training, preferably after closing; timing is negotiable. Long-tenured kitchen and bar staff support continuity.
Market & Competition
The area has a few full-service restaurants, but most focus on a bar crowd or pizza. Few combine a full Italian-American dinner menu with flexible event space for smaller gatherings. Many competing venues require minimum headcounts, leaving the small-group events market underserved. Menu prices are below the local market.
Growth Opportunities
Restore lunch service (strong before 2020; customers regularly ask for it) and open Mondays (currently closed except for booked functions). The seller estimates these two steps could raise sales 25-30% with most staff already in place. Additional upside from expanded marketing (website, social media and an established email list already in place), measured menu price increases, and substantial new housing under construction in the immediate trade area.
Business listed by
Pi Business Brokers
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