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Restaurant For Sale In Picard, Portsmouth, Dominica

Posted 7 months ago
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Price US$1,875,000
Location Portsmouth, Saint John
Please contact Alistair Grell
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Description:
Profitable Restaurant for Sale in University Town. The Tomato Café is the newest, largest and most successful restaurant in Picard, Portsmouth, Dominica, with a ten year track record of growth, especially since moving into its new building in September 2013.

The restaurant and covered veranda encompass 5,838 sq. ft. as well as the uncovered deck and patio which comprise 1,888 sq. ft. There is also a near completed one bedroom penthouse loft on the mezzanine level for the new owners or their on-site manager all on 11,610 sq. ft (just over a 1/4 acre).

Located a mere 100 meters from the Ross University School of Medicine, 98% of the restaurant’s business comes from Ross students and faculty, and over 10% of its annual sales are a direct result of event catering to the University. Over 40% is derived from meal deliveries, usually 100 meals a day, to students who would rather spend time studying instead of cooking.

Ross University campus in Dominica (owned by DEVRY) has approximately 1,300 students, and the campus is expanding to accommodate 2,000 students within a few years (http://www.rossu.edu/news/RUSM-to-launch-campus-expansion-projects.cfm).

Gross sales for 2014 reached $3,400,000 XCD (approx. $1,265,000 USD) although the restaurant only opens 8:00 am until 9:00 pm Monday through Saturday; closed on Sundays, most holidays and during the University’s semester breaks which totals at least 7 weeks a year.

Seating approx. 250 people, this restaurant has an extensive menu of over 110 items, including deli meats and cheeses, and fine wines and liquors for resale. Most of its products are sourced from SYSCO in Miami, chilled and frozen goods flown in on Amerijet every two weeks and 4-5 pallets of case goods shipped in by sea every 6-7 weeks.

The restaurant will be sold as a turn-key operation, including an excellent staff of 25, furniture and fixtures, commercial cookware, 33KVA diesel generator, all inventory at closing, etc. Most of the building materials were sourced internationally, including the 4” x 12” roof rafters (27’ high ceilings) from Canada, Rocky Mountain Shale cladded bar and service counters, high strength Boeing epoxy coatings to the walls and floors, European furniture and lighting fixtures, and local art on the walls.

Although the company has tremendous cash flow, the husband and wife owners are now recently divorced and would like to move on to other fields of endeavor.

This is an excellent investment opportunity for a savvy investor.
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AlistairG Member
Member since 17 January 2013
Roseau, Dominica
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