For a business in the food service industry, this café has more than survived the Covid 19 pandemic and is poised to fully recover and thrive going forward.
This full service specialty coffee shop and fast-casual restaurant is a well established institution in town and has an excellent reputation for quality and service. Restaurant features specialty coffees, pastries & bakery goods, sandwiches, wraps, and soups; most produced on-site from family recipes.
For 2019, seller reports revenue of $599,000 – approximately 43% coffee and drinks and 53% food. Cost Of Goods Sold that is above industry averages of 28% to 32% offers an opportunity to improve performance and cash flow.
For the first half of 2020 the business was, as every food service operation, adversely affected by the Covid 19 Virus pandemic. Although the business was effectively shut down through part of the first 6 months of 2020 and has been gradually reopening, revenue for the period declined only about 18% compared to the prior year. Profits from operations and cash flow has remained relatively unchanged from the prior year due to a reduction in hours of operation, more effective use of labor, and improved cost control.
“Cash Flow” is intended to approximate the funds available to a single working owner/operator; it excludes the expenses of income taxes, depreciation and amortization, interest, non-recurring items, non-operating items, and items made at the discretion of the owner including owner’s salary and benefits.
