Popular Ribble Valley restaurant placed on the market
A popular Italian restaurant in the Ribble Valley has been placed on the market by its owner.
Founder Sabiha Jamil, who wishes to focus on other commitments, has instructed Blacks Business Brokers to find a new owner for Ristorante Amico Mio in Whalley.
There is an asking price of £144,995 to take over the business plus either £350,000 to secure the freehold on the property or annual rent of £25,000 if the purchaser would prefer to lease the premises.
Mrs Jamil launched Amico Mio on King Street in 2000.
Over the past two decades it has established a strong reputation and now employs 12 people, including three chefs and a front of house manager.
The restaurant can accommodate up to 75 customers in its ground and first-floor dining areas, each of which has its own fully equipped bar.
It is currently open evenings-only six days per week and in its most recent financial year the business generated turnover of £396,000.
Amico Mio’s fully equipped kitchen includes a double-deck pizza oven, commercial ovens, hobs and a full range of food storage and preparation equipment.
For security the premises are fitted with a 12-point CCTV system.
Megan Sutherst, sales negotiator at Blacks Business Brokers, said, “Amico Mio has a great reputation and, with two decades’ solid trading history and a strong team of staff, is a great opportunity either for an existing restaurateur looking for a bolt-on acquisition or for an entrepreneur who wants to purchase their first hospitality business.
“Although already profitable, there are also a number of opportunities for a new owner, including introducing deliveries to build upon Amico Mio’s existing takeaway offering. The first-floor dining space could also be used for private functions, and a new owner could also look at introducing lunch-time service.
“There is also potential to raise the restaurant’s profile outside the immediate area by upgrading its website. This would allow it to capitalise further on the great online reviews it consistently receives.”