Wilmington Tasting Room at 19 S. Second St. is on the market. (Photo by Allison Ballard)
After two years in business, the wine-and-beer shop at 19 S. Second St. in downtown Wilmington is on the market.
“We started this thing with very little investment,” said Michael Bevacqua, owner of the Wilmington Tasting Room. “And it’s developed into a beautiful success story . . . It’s been a great. This is not a negative at all.”
The business was started with about $17,000 and since then has developed a steady clientele, hosted popular weekly tastings, held music events in the back courtyard and produced its own wine label.
The Wilmington Tasting Room has grown to include $200,000 in annual sales, Bevacqua said.
“We’ve accomplished a lot, considering how we started,” he said.
The opportunity to continue to develop his own wine label is one of the reasons he’s putting the business up for sale. In recent months, Bevacqua said he’s looked for investors to grow the business but hasn’t been able to find the right fit.
Wilmington Tasting Room, which opened in March 2015, is available for $70,000, plus fixtures and inventory, he said.
The business is listed through MoMentum Companies in downtown Wilmington, said Joan Loch, the broker handling the sale. She said there’s already been some interest in the wine shop.
“It’s a wonderful business. It’s turnkey ready for someone to take it to the next level,” Loch said.