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Businesses For Sale: Listing Details
| Listing Number: |
Pizza by Pappas/PRICE REDUCED/Scranton PA since 1971 |
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| Category: |
Accommodation and Food Services |
Price: |
$750,000.00 |
| Detail: |
Full-Service Restaurants |
Down: |
Yes |
| County: |
Lackawanna County |
Gross Sales: |
$1,200,000 |
| State: |
Pennsylvania |
Cash Flow: |
DNR |
| Real Estate: |
Not Included |
Cash Flow Method: |
SDE |
Pizza by Pappas
Downtown Scranton, PA
Since 1971
Asking Price: $750,000
Cash Flow: available
Gross Revenue:$1,200,000
Established:1971
Business Description
“Pizza by Pappas” was founded in 1971 by the father of the current owners. The landmark Scranton restaurant and pizzeria has operated from the same location for over 5 decades. The business celebrated its 50th Anniversary in July of 2021.
2021 sales volume was at pre-Covid levels even as the business had been operating at a reduced schedule of 5 days/week.
Pappas serves lunch and dinner and offers free downtown delivery with quick turnaround.
Pappas specializes in their distinctive personal pan Pizzas, in addition to hoagies, grinders, cheesesteaks, sandwiches, soups, buffalo wings, fries, and more.
Their systematic and quick turnaround preparation and service models make Pappas a perfect stop for a quick and fresh lunch in downtown Scranton.
Pappas has always been a popular destination for a variety of local professional offices, including City, County, State, and Federal governmental offices, in addition to banks, hospitals, doctors, and other medical, legal, and financial offices. Over the years, downtown businesses have come to expect delicious food delivered by Pappas in a timely fashion.
The restaurant’s menu is available on their website, www.pizzabypappas.com, and customers can also order online through “Chownow,” in addition to delivery through “Uber” and “Doordash.”
The business also utilizes Facebook.
Real Estate: Leased
Building SF: 2,425
Employees: 20
Facilities:
Pappas was the original ground level tenant of a multilevel parking garage in the heart of the downtown. The restaurant and kitchen occupy 2,425 sq. ft. They also lease an additional 1,159 sq. ft. of office and storage space around the corner in the same building complex. A copy of the lease is available. The dining room accommodates seating for 88 patrons.
Competition:
Pappas has been a popular dining choice in downtown Scranton in the same location for over 50 years.
Seller Financing: None
Support & Training:
The Seller will be available for 30 days to assist in the transition of ownership as part of the purchase price and is willing to train a replacement manager.
Reason for Selling: Retirement
Business Website:
http://pizzabypappas.com/
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