Broker Name:Kevin Chung
Broker Email:info02@v-aidgroup.com
Broker Phone:1-866-519-2421
Broker Address:2727 LBJ Freeway #775 Farmers Branch, TX 75234
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Free Standing Old Fashioned Hamburger Joint with Drive Thru
(Restaurants)
Collin, Texas
Listed Price: $ 299,000
Listing ID: 000786

Listing DetailsDown Payment: $ 100,000
Gross Revenue: $ 615,221
Cash Flow: $ 150,000
FFE: $ 15,000 (Included in Price)
Inventory: $ 3,000
Reason for Sale:

Burned out after more than two decades of involvement in day to day operation in this industry.


Training & Support:

Owner will provide a sufficient training for an agreed upon period to make the transition into the business as seamless as possible.


Listing SummaryBusiness Description:

Old fashioned style hamburger restaurant established for over 20 years placed in a prime location of fast growing city is now available for acquisition. The business was originally established as an old national franchise fast food restaurant about 40+ years ago by previous owner and was later acquired by current owner in 1995 as the owners transitioned to the current business concept. This 2,300 SF freestanding building has a built-in drive thru for the restaurant that is conveniently located next to major highway as well as nearby densely populated residential area and small businesses. Most of the customers are low to middle-class Caucasian and well mix of other ethnicity, families and workers from nearby neighborhood and surrounding small businesses as well as from all over the metroplex. Competition can be expected within the immediate market area, but this business serves home-style old fashioned hamburgers superior in quality with inexpensive and affordable price point that also includes a drive-thru for the convenience for the patrons. This business offers third party deliveries as well as in-house deliveries within 10 miles from the business. Gross sales average was $51,000/year that has been consistent over the last decade due to the solid customer base this business has built over 20 years since 1995 without any marketing in place except word of mouth. Although no marketing efforts is in place in the currently other than word of mouth, proactive marketing in various methods is crucial to the further growth of this business in overall cashflow and acquisition of new customers from untapped areas of the city. There are many ways to proactively market this business such as direct mailing, discounts, daily specials, coupons, social media outlets and renovation. Renovation and remodeling of the business are needed as the exterior and interior need more modernized look to attract new set of customers and to bring the facility up to code per city ordinance. The business is still using an old cash register and by upgrading to current POS systems, the business will be run much more effectively and smoothly in terms of keeping up with the sales, customers, drive-thru customer turnaround and overall logistics of the business. Selling alcoholic beverages will greatly boost the sales as the demographic is well suited for alcoholic sales as the average consumer has lots of disposable income. This business has everything in place for a potential buyer to proactively market this business while being fully involved in the day-to-day business operations.


Competition:

Few competitors are within the immediate market area, but this business provides simple and variety of products at an inexpensive and affordable price.


Potential Growth:

There is no proactive marketing in place other than word of mouth for this business. Proactive marketing methods need to be utilized to achieve maximum income potential. Selling Alcoholic beverage would definitely increase overall sales.


Financing/Terms:

100% down at the time of closing or 30% Cash Down with SBA Financing for Qualified Buyers.


LocationSquare Footage: 2300
Facilities:

This business is located in a 2,300 SF free standing building with drive thru that is next to major highway and nearby densely populated residential area and small businesses.


OperationYear Established: 1970
Employees: 6FT/2PT
Absentee Owner: No