Financing: $75,000.00 Down and $50k at 3% for 12 months
Reason for Selling:Too remote from other locations
This location is in a heavily-trafficked shopping center. While net profits are low, this is primarily due to lower sales/profits due to the impact of COVID over the last 12 months along with high labor costs due to overstaffing to support the business remotely (current owner is out of state). The FF&E are brand new and the asking price is almost the equivalent of the total asset value of the FF&E alone at $103k! The reason this business is on the market is primarily because the distance from the other restaurants in this chain is too far and the owners do not want to focus on a single restaurant in an entirely different state. The right owner could benefit greatly from the upside this location offers by a) growing on-premise and off-premise as COVID restrictions are finally being removed, 2) being more present to interact with guests, and 3) driving down labor costs with more hands-on management (current owners needed to staff up throughout covid to support the location).
Permitted Use: Fast casual restaurant serving menu items like sandwiches, salads, bowls, juices, etc. or items similar to such. Tenant may also serve beer/wine on-premise with an alcohol license that currently is not in place and would increase cash flow/revenues.
New concept may not be in direct competition to neighboring businesses: Blaze Pizza, Bountiful Bread, Chipotle, Mr. Fuji Sushi, Primal Neighborhood Butcher, Starbucks, TGI Fridays.
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