Wildwood Italian Cuisine and Oakville Grill and Winebar appear to be for sale, based on the contents of an
online listing. Previously called Gepetto, the restaurant opened in 1977, the same year given for the start of the unnamed restaurants in the ad. Other clues include the fact that there aren't any other co-located Italian restaurants sharing a single kitchen in Bethesda. The asking price is $670,000.
Now I know why I'm not in the restaurant business. Only $275k in profit, with 35 full-time employees. I bet the owner doesn't take a salary either and instead takes dividends.. so if one were to buy it and hire a real manager, the profits would be much lower with the manager's salary added in.
ReplyDeleteOn top of that, the Yelp reviews are not great either:
https://www.yelp.com/biz/wildwood-italian-cuisine-bethesda
Anyone want to take bets if the place will just shut down, after failing to find a buyer willing to pay more than half a million for a business with bad reviews and low profits?
6:04 AM - If you have the Gordon Ramsey impact, you can reverse all the negative aspects of a business and make it profitable. It's all about location, and this is a prime spot. Sometimes owners can't see their own trees for the forest.
ReplyDeleteWell there is ongoing trademark litigation in u.s. dist. Ct. that may be a factor influencing the owners' hands. I hope not.
ReplyDeleteApparently it's not REALLY being sold
ReplyDeleteNice restaurant. Here is one that I recommend to you: ravintolat Tampere - best place I know in Tampere. Visit it sometimes.
ReplyDelete