Business Description
This pizza store began operations at this location in 1983 making it one of the best businesses in Colorado Springs for longevity. The store is located in Colorado Springs, Colorado. It is located in a shopping center very near one of the major streets in the area. The shopping center has just been purchased by new owners and they are beginning the process of renovating the entire center making it a more attractive center for all customers.
This pizza business has a phenomenal 40 year history in the same location. It had the same owner for 39 of those years and is one of Colorado Springs oldest and independently owned and operated Pizzerias. Due to health reasons, in 2019 the owner decided to scale back the business to a seasonal format and shorten daily hours of operation from 76 to 52 hours per week. In 2021 they were open only 32 weeks and still made well over $100,000.00 owners discretionary income. In fact in the 3 years since the change in format, and even with Covid related issues the business has consistently made over $100,000.00 in income each season.
The center where the shop is located was recently purchased and the new owners will require all businesses in the center to be open year-round. Therefore, the owner decided to sell the business and retire. A new owner would be required to keep the store open 12 months out of the year. But, this would also significantly increase revenues and profits. Typically, there is a lot of pizza sold during the winter months and especially during football season. There is also the opportunity to easily expand daily business hours back to 76 hours per week. A new owner would have the ability to earn well over $200,000.00 annually.
In November of 2022, a new owner purchased the business. This new owner and his wife created a new menu, purchased two new ovens, a new POS system, and even spent $32,000.00 on a new electrical panel updating the electrical grid in the location. There were other modernization changes in which they invested. Sales have been averaging over $28,000.00 per month and have increased to over $30,000.00 currently. The new owners promoted two of the employees to manager of the store and manager of the kitchen. The new owners had hoped that the store could run and make substantial profits with this existing status. However, they found that they needed to be at the store nearly every day. And the new owners had existing full-time jobs. The end result was that with all the increased expenses and time involved, they felt like they could not continue on physically. Therefore, they have decided to sell the store to someone who can spend the amount of time necessary to continue the legacy of the store.
On an annualized basis, the previous owners were netting an average of between $13,999.99 and $16,000.00 per month. Of course, at the time of the sale, they were only open 32 weeks out of the year. The new owners and the upgrades and additional advertising should allow an on-site owner to net the same results. But most importantly is the fact that this business needs an on-site owner.
Their pizza selection is varied and has many choices. Not only do they provide pizza, they also provide other Italian delicacies such as Stromboli, Chicken Parmigiana Fettucine Alfredo, Spaghetti, and a variety of popular appetizers. Customers have said that this is the best pizza they have ever eaten, and with hundreds of 5 star reviews on Google and Yelp this is one of the highest rated Pizza Restaurants in Colorado Springs.
The new owners have adjusted the store hours so as to take advantage of the prime time slots for the greatest volume of business. A new owner could change the opening and closing times to possibly increase the volume of sales. A reduction of staff would also most likely provide additional profits. And since this business is not a sit-down store, there are no servers to hire and employ; only pizza makers, clerks, and drivers.
Detailed Information
Location: Colorado Springs, CO
Inventory: Not included in asking price
Real Estate: Leased
Building SF: 686
Lease Expiration: N/A
Employees: 11
Furniture, Fixtures, & Equipment (FF&E): Included in asking price
Facilities: 686 square foot facility located in a strip center near a high volume traffic thoroughfare
Reason for Selling: Other full time jobs and interessts